Corcept Therapeutics CORT reported second-quarter 2026 earnings of 36 cents per share, beating the Zacks Consensus Estimate of a loss of 4 cents. In the year-ago quarter, the company had reported earnings of 29 cents.
Second-quarter revenues rose nearly 32% year over year to $256.1 million and surpassed the Zacks Consensus Estimate of $216 million. Growth was driven by higher Korlym sales and the first-quarter contribution from newly launched ovarian cancer drug Lifyorli (relacorilant).
Year to date, shares of Corcept have surged 167.1% against the industry’s 2.4% decline.
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CORT’s Q2 Earnings in Detail
Corcept’s top line consisted of product sales from Cushing’s syndrome drug Korlym and newly launched ovarian cancer drug Lifyorli.
In the second quarter of 2026, product revenues from Korlym were $208.6 million, up 7.3% year over year. However, the metric missed our model estimate of $212.2 million.
In March 2026, the FDA approved Lifyorli, Corcept’s selective glucocorticoid receptor antagonist, in combination with nab-paclitaxel for the treatment of adult patients with platinum-resistant ovarian cancer. Lifyorli generated $47.6 million in its first quarter of commercial availability. The reported figure surpassed our model estimate of $2 million.
More than 1,300 patients started treatment by the earnings update, while more than 1,000 physicians prescribed the drug. Management attributed uptake to Lifyorli’s efficacy and safety profile, oral administration and lack of a biomarker requirement. The regimen was listed as a preferred option in the NCCN Guidelines shortly after approval.
CORT’s Operating Expenses & Cash Balance
Second-quarter operating expenses increased 28.1% year over year to $214.8 million. The rise reflected spending related to the Lifyorli launch and continued investment in the company’s Cushing’s syndrome business.
Selling, general and administrative expenses surged 51.1% to $156.9 million. Research and development expenses declined 10.9% to $53.9 million.
Corcept ended the quarter with cash and investments of $544.6 million, up from $515.4 million as of March 31, 2026.
Corcept Raises Its 2026 Revenue Outlook
Corcept raised its 2026 revenue guidance to $1.1-$1.2 billion from the previous $950 million to $1.05 billion. Management said that the revised outlook reflects strength across the endocrinology and oncology businesses.
The Zacks Consensus Estimate for revenues is pegged at $986.45 million.
CORT's Pipeline Updates
Corcept continued to make meaningful progress across its late-stage pipeline. The company resubmitted the new drug application (NDA) for relacorilant for the treatment of patients with hypercortisolism (Cushing's syndrome) to the FDA in June 2026. The FDA accepted the application and assigned a target action date of Dec. 17, 2026. The NDA filing is supported by positive data from the GRACE study, confirmatory evidence from the phase III GRADIENT study, long-term extension studies and a phase II study in hypercortisolism.
Corcept is evaluating relacorilant plus nab-paclitaxel and bevacizumab in the phase II BELLA study in patients with platinum-resistant ovarian cancer to understand whether combining relacorilant with two medicines offers patients an additional treatment option or not. Top-line data are expected by the end of 2026.
Additional studies investigating relacorilant across platinum-sensitive ovarian, endometrial, cervical and pancreatic cancers remain on track to report results by the end of 2027. Patient enrollment is ongoing in the mid-stage prostate cancer study.
Corcept has submitted a marketing authorization application to the European Medicines Agency, seeking approval for relacorilant plus nab-paclitaxel for the treatment of patients with platinum-resistant ovarian cancer. A final decision in Europe is expected by the end of 2026.
Corcept’s Broader Pipeline Remains Active
Beyond relacorilant, Corcept continues to advance its broader pipeline. Corcept is developing its other pipeline candidates, dazucorilant and miricorilant, in separate studies for treating amyotrophic lateral sclerosis (ALS) and biopsy-confirmed or presumed metabolic dysfunction-associated steatohepatitis, respectively.
The phase IIb MONARCH study of miricorilant in patients with metabolic dysfunction-associated steatohepatitis has completed enrollment. Results are expected by the end of this year.
Corcept is also conducting a dose-titration study of dazucorilant in ALS to improve gastrointestinal tolerability. The findings are expected to guide a planned phase III study after phase II DAZALS analyses showed substantial reductions in mortality risk at the 300-milligram dose.
Corcept Therapeutics Incorporated Price, Consensus and EPS Surprise
Corcept Therapeutics Incorporated price-consensus-eps-surprise-chart | Corcept Therapeutics Incorporated Quote
CORT's Zacks Rank & Stocks to Consider
Corcept currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy), and Neurocrine Biosciences NBIX, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 90 days, earnings per share estimates for Harmony Biosciences have decreased from $3.34 to $3.30 for 2026. Over the same period, estimates for earnings per share increased from $3.79 to $3.87 for 2027. HRMY shares have lost 4.2% year to date.
Harmony Biosciences missed on earnings in each of the trailing four quarters, delivering an average negative surprise of 25.16%.
Over the past 90 days, estimates for Liquidia’s 2026 earnings per share have increased to $3.02 from $1.50. Over the same period, EPS estimates for 2027 have risen to $5.31 from $2.91. LQDA shares have gained 151.7% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 54.40%.
Over the past 90 days, estimates for Neurocrine Biosciences’ 2026 earnings per share have risen from $8 to $9.09. Over the same period, EPS estimates for 2027 have increased from $9.48 to $10.81. NBIX shares have gained 27.5% year to date.
Neurocrine Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 9.08%.
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This article originally published on Zacks Investment Research (zacks.com).