CORCEPT THERAPEUTICS INC
CORT evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for CORT—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CORT
Corcept Therapeutics is a commercial-stage biopharmaceutical company focused on developing drugs for severe metabolic, oncologic, and psychiatric disorders by modulating the effects of cortisol.
Key risk: Clinical trial risks
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 18 clinical trials · 1 catalyst · 2 FDA decisions for CORCEPT THERAPEUTICS INC.
Similar companies
Corcept Therapeutics is a commercial-stage biopharmaceutical company focused on developing drugs for severe metabolic, oncologic, and psychiatric disorders by modulating the effects of cortisol.
- Generated total revenue of $256.1M and net income of $43.0M for the six months ended June 30, 2026 [sec].
- Cash and equivalents stood at $112.3M as of June 30, 2026, with shareholders' equity of $635.8M [sec].
- Primary marketed product is Korlym (mifepristone) for the treatment of hypercortisolism (Cushing's syndrome) [sec_mda].
- Lead pipeline candidate relacorilant is being studied in a Phase 3 trial (ROSELLA) for platinum-resistant ovarian cancer and an NDA for hypercortisolism has been submitted to the FDA [sec].
- Completed enrollment in CATALYST, a Phase 4 trial examining hypercortisolism prevalence in difficult-to-control type 2 diabetes patients and treatment with Korlym [sec].
What works
- The company has a commercially approved product (Korlym) generating revenue, which funds operations and reduces reliance on external financing [sec_mda].
- A deep pipeline includes relacorilant in a pivotal Phase 3 trial for ovarian cancer and a submitted NDA for hypercortisolism, offering multiple value inflection points [sec].
- Management expects to fund planned operations and R&D over the next 12 months without needing additional funds, indicating sufficient liquidity [sec_mda].
What to weigh
- Research and development expenses are rising as clinical programs advance, with R&D costs increasing from $60.7M in Q1 2025 to higher levels in 2026 [sec_mda].
- Clinical development is subject to uncertainties including inconclusive or negative results, slow patient enrollment, and adverse side effects [sec_mda].
- If additional funds are needed, equity financing would be dilutive and debt financing could involve restrictive covenants [sec_mda].
From the filings
Quoted directly from source documents.
Completed enrollment in CATALYST Phase 4 trial
“achieving positive results in CATALYST, our Phase 4 trial examining the prevalence of hypercortisolism in patients with difficult-to-control type 2 diabetes and its treatment with Korlym”
SEC filings · April 25, 2025
Expectation to fund operations without additional funds
“we expect to fund our operations and planned research and development activities over the next 12 months and beyond without needing to raise additional funds”
SEC MD&A · April 30, 2026
Catalyst timeline
- 2038-08-22 · Patent_Expiry · KORLYM — Patent/Exclusivity Expiry: KORLYM — The patent or exclusivity protection for Korlym is scheduled to expire, which could open the market to generic competition.
Risks & what to watch (3)›
Key risks
- Clinical trial risks — Clinical development is subject to uncertainties including inconclusive results, slow enrollment, and adverse side effects [sec_mda].
- Rising R&D expenses — R&D expenses are increasing as programs advance, which could pressure profitability [sec_mda].
- Dependence on Korlym revenue — Operations have been funded primarily by Korlym sales; any decline would impact liquidity [sec_mda].
What to watch
- FDA decision on the NDA for relacorilant to treat hypercortisolism [sec].
- Data readout from the ROSELLA Phase 3 trial of relacorilant in platinum-resistant ovarian cancer [sec].
- Results from the CATALYST Phase 4 trial in difficult-to-control type 2 diabetes [sec].
- Trend in Korlym revenue and overall cash burn rate [sec_mda].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 0.26 · 12% dilution
Lead: Approved
2 candidates
1 upcoming, next in ~4375d
2 buys · 62 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
348
Total value held
$2.98B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 12,151,276 | $489.8M |
| vanguard capital management llc | 8,154,392 | $328.7M |
| renaissance technologies llc | 5,682,783 | $229.1M |
| vanguard portfolio management llc | 4,820,568 | $194.3M |
| state street corp | 3,200,946 | $129.0M |
| fmr llc | 3,190,192 | $128.6M |
| geode capital management, llc | 2,713,519 | $109.4M |
| first trust advisors lp | 2,173,376 | $87.6M |
| dimensional fund advisors lp | 1,553,135 | $62.6M |
| tang capital management llc | 1,500,000 | $60.5M |
Showing top 10 of 348 institutional holders of CORCEPT THERAPEUTICS INC. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 12.9%
- Days to cover
- 9.6
- Shares short
- 10,710,814
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CORT short interestGovernance
Frequently asked questions
What is the AI investment thesis for CORCEPT THERAPEUTICS INC?
Corcept Therapeutics is a commercial-stage biopharmaceutical company focused on developing drugs for severe metabolic, oncologic, and psychiatric disorders by modulating the effects of cortisol.
What is CORCEPT THERAPEUTICS INC's lead drug candidate?
CORCEPT THERAPEUTICS INC's most advanced tracked candidate is korlym (Approved) for Cushing's syndrome (hypercortisolism).
What is CORCEPT THERAPEUTICS INC's next catalyst?
CORCEPT THERAPEUTICS INC's next tracked catalyst is a Patent_Expiry event — "Patent/Exclusivity Expiry: KORLYM" — expected August 22, 2038.
Who is the CEO of CORCEPT THERAPEUTICS INC?
Dr. Joseph K. Belanoff M.D. is the chief executive officer of CORCEPT THERAPEUTICS INC (CORT).
Where is CORCEPT THERAPEUTICS INC headquartered?
CORCEPT THERAPEUTICS INC (CORT) is headquartered in Redwood City, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.