Shares of Corcept Therapeutics Incorporated CORT have rallied 60.7% in the past three months against the industry’s decline of 9.9%.

The company’s sole-marketed drug, Korlym (mifepristone), which is approved for treating Cushing's syndrome, has been performing well. The drug has been witnessing a strong demand in the past couple of quarters and the trend is likely to continue in 2025.

The company is also making good progress with its promising set of pipeline candidates.

Factors Driving CORT Stock in the Given Time Frame

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Corcept’s top line solely comprises product sales from Korlym. The drug has been a consistent revenue driver for the company since approval. Sales of the drug increased 42.1% year over year to $493.2 million in the first nine months of 2024, owing to the strong demand and a record number of patients receiving the medication.

Owing to the strong performance, CORT increased its annual revenue guidance for Korlym concurrently with third-quarter results. The company now expects total revenues in the range of $675-$700 million compared with the earlier projection of $640-$670 million.

The strong demand for Korlym is likely to continue the momentum for Corcept in future quarters.

CORT's Progress With Relacorilant Holds Promise

Corcept’s lead pipeline candidate, relacorilant, is being evaluated in phase III of the GRACE study to treat Cushing’s syndrome.

Relacorilant is also being investigated in the phase III GRADIENT study for treating patients whose Cushing’s syndrome is caused by adrenal adenoma. While data from the GRACE study will form the basis of the NDA for relacorilant, data from the GRADIENT study will likely support the NDA.

A new drug application (NDA) for relacorilant in Cushing’s syndrome is likely to be submitted later in the fourth quarter of 2024.

Corcept is also studying relacorilant in combination with other therapies for treating different cancer indications.

The phase III ROSELLA study is evaluating relacorilant in combination with nab-paclitaxel for the treatment of patients with platinum-resistant ovarian cancer, with data from the same expected by 2024 end. Another study is evaluating relacorilant in combination with pembrolizumab for treating patients with adrenal cancer along with cortisol excess.

The successful development and potential approval for relacorilant should help Corcept address a broader patient population, which should push the stock upward in future quarters.

CORT's Rising Estimates

In the past 60 days, estimates for Corcept’s 2024 earnings per share have moved up from $1.12 to $1.31. During the same period, earnings per share estimates for 2025 have moved up from $1.62 to $1.84.