Corcept TherapeuticsCORT reported third-quarter 2026 earnings of $1.01 per share, which comprehensively beat the Zacks Consensus Estimate of 68 cents. Earnings surged 531.3% year over year from 16 cents per share reported in the year-ago quarter.
Third-quarter revenues surged 64% year over year to $340.5 million, surpassing the Zacks Consensus Estimate of $329 million. Growth was driven by higher sales of Korlym and the strong uptake of the newly launched product, Lifyorli (relacorilant).
Year to date, shares of Corcept have surged 135.5% against the industry's 3.2% decline.
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CORT's Q3 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 third quarter, product revenues from Korlym and its authorized generic totaled $249.1 million, up 20% year over year. However, the metric missed our model estimate of $258 million.
In March 2026, the FDA approved Lifyorli in combination with nab-paclitaxel for the treatment of adult patients with platinum-resistant ovarian cancer. Lifyorli generated $91.4 million in the reported quarter, representing a sequential increase of 92%. The reported figure surpassed our model estimate of $70 million.
Since its April 1 launch, more than 2,300 patients have received Lifyorli, while more than 1,700 physicians have prescribed the drug. Management attributed the strong uptake to its efficacy, manageable safety profile, oral administration and lack of a biomarker-testing requirement.
Corcept's Operating Expenses & Profitability
Third-quarter operating expenses increased 14.3% year over year to $225.7 million, reflecting higher commercial spending alongside continued investment in clinical development.
Selling, general and administrative expenses increased 32.6% year over year to $164.4 million. Research and development expenses declined 17.6% to $56.7 million.
Corcept ended the third quarter with cash and investments of $662.3 million, up from $544.6 million as of June 30, 2026.
CORT Reiterates 2026 Revenue Outlook
Corcept reiterated its full-year 2026 revenue guidance of $1.1 billion to $1.2 billion, citing continued strength in its overall business activities.
The Zacks Consensus Estimate for revenues is pegged at $1.14 billion.
Corcept's Relacorilant Pipeline Updates
Corcept's resubmitted new drug application for relacorilant to treat patients with Cushing's syndrome remains under FDA review, with a target action date of Dec. 17, 2026.
The application is supported by positive data from the phase III GRACE study and confirmatory evidence from the phase III GRADIENT study.
Corcept recently announced positive results from Part A of the phase II BELLA study evaluating Lifyorli in combination with nab-paclitaxel and Roche's RHHBY Avastin (bevacizumab) in patients with platinum-resistant ovarian cancer. The triplet combination demonstrated median progression-free survival of 7.2 months, an objective response rate of 59% and a six-month overall survival rate of 88%.
Among patients without prior Avastin treatment, median progression-free survival reached 8.1 months, with an objective response rate of 66% and six-month overall survival of 91%.
Meanwhile, in September 2026, the Committee for Medicinal Products for Human Use issued a positive opinion recommending approval of Lifyorli in combination with nab-paclitaxel for the treatment of patients with platinum-resistant ovarian cancer.
The recommendation will be reviewed by the European Commission. A final decision from the regulatory body is expected by the end of 2026.
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 and biopsy-confirmed or presumed metabolic dysfunction-associated steatohepatitis, respectively.
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 TG TherapeuticsTGTX and Tarsus PharmaceuticalsTARS, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Over the past 60 days, estimates for TG Therapeutics' 2026 earnings per share have risen from 92 cents to 94 cents, while estimates for 2027 have increased from $2.65 to $2.66 during the same time. TGTX shares have surged 103.8% year to date.
TG Therapeutics' earnings beat estimates in one of the trailing four quarters, while missing the same on the remaining three occasions, with the average surprise being 184.65%.
Over the past 60 days, estimates for Tarsus Pharmaceuticals' 2026 loss per share have narrowed from $2.41 to $2.23, while estimates for 2027 have increased from 58 cents to 64 cents during the same time. TARS shares have declined 11.3% year to date.
Tarsus Pharmaceuticals' earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average negative surprise being 7.63%.
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Corcept Therapeutics Incorporated (CORT) : Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).
