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Corcept (CORT) Thrives on Korlym, Overdependence a Concern
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Corcept Therapeutics Incorporated’s (CORT - Free Report) marketed drug, Korlym, is approved for the once-daily oral treatment of hyperglycemia — secondary to hypercortisolism — in adult patients with endogenous Cushing’s syndrome, who are suffering from type II diabetes or glucose intolerance and have already failed surgery or are unsuitable for the same.
The company’s top line solely comprises Korlym sales, which witnessed a year-over-year increase during the first six months of 2022. The drug has been a consistent revenue driver since its approval.
Shares of Corcept have rallied 40.1% so far this year against the industry’s decline of 30.4%.
Image Source: Zacks Investment Research
Corcept’s lead pipeline candidate, relacorilant, is being evaluated in the phase III GRACE study to treat Cushing’s syndrome. A new drug application for relacorilant is expected to be submitted in the second half of 2023.
Relacorilant is also being investigated in phase III of the GRADIENT study in patients whose Cushing’s syndrome is caused by adrenal adenoma.
A phase Ib study is evaluating relacorilant in combination with Merck’s (MRK - Free Report) PD-1 checkpoint inhibitor, Keytruda (pembrolizumab), for treating patients suffering from adrenal cancer along with cortisol excess.
Pharma giant Merck’s biggest revenue generator, Keytruda, is approved for treating several types of cancer indications. MRK continues to study Keytruda to address more cancer indications.
Relacorilant, in combination with nab-paclitaxel, is also being evaluated in the phase III ROSELLA study for the treatment of patients with platinum-resistant ovarian cancer.
Corcept’s other pipeline candidates are also progressing well.
Earlier this month, the company initiated the phase II DAZALS study evaluating its pipeline candidate, dazucorilant, for treating patients with amyotrophic lateral sclerosis, a destructive neuromuscular illness.
The company is evaluating miricorilant in the phase II GRATITUDE study for treating the reversal of antipsychotic-induced weight gain (“AIWG”). The phase II GRATITUDE 2 study is investigating miricorilant to reverse long-standing AIWG. Data from both studies are expected by the end of 2022.
CORT is conducting a phase Ib dose-finding study investigating miricorilant in patients with presumed non-alcoholic steatohepatitis. Data from the same is also expected in the fourth quarter of 2022.
The successful development and potential approval of other candidates will lend a boost to Corcept and likely lower its dependence on Korlym.
However, the company remains heavily dependent on Korlym for growth, which is a woe. Moreover, its pipeline is still some years away from commercialization. Hence, a decline in Korlym sales will significantly hurt the company’s prospects.
Corcept Therapeutics Incorporated Price and Consensus
Corcept currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector are Fusion Pharmaceuticals Inc. (FUSN - Free Report) and Aerie Pharmaceuticals, Inc. , both carrying a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss per share estimates for Fusion Pharmaceuticals narrowed 3.5% for 2022 and 6.8% for 2023 in the past 60 days.
Earnings of Fusion Pharmaceuticals have surpassed estimates in each of the trailing four quarters. FUSN delivered an earnings surprise of 16.22%, on average.
Loss per share estimates for Aerie Pharmaceuticals narrowed 0.5% for 2022 and 4.9% for 2023 in the past 60 days.
Earnings of Aerie Pharmaceuticals have surpassed estimates in two of the trailing four quarters and missed on the other two occasions. AERI delivered an earnings surprise of 70.27%, on average.
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Corcept (CORT) Thrives on Korlym, Overdependence a Concern
Corcept Therapeutics Incorporated’s (CORT - Free Report) marketed drug, Korlym, is approved for the once-daily oral treatment of hyperglycemia — secondary to hypercortisolism — in adult patients with endogenous Cushing’s syndrome, who are suffering from type II diabetes or glucose intolerance and have already failed surgery or are unsuitable for the same.
The company’s top line solely comprises Korlym sales, which witnessed a year-over-year increase during the first six months of 2022. The drug has been a consistent revenue driver since its approval.
Shares of Corcept have rallied 40.1% so far this year against the industry’s decline of 30.4%.
Image Source: Zacks Investment Research
Corcept’s lead pipeline candidate, relacorilant, is being evaluated in the phase III GRACE study to treat Cushing’s syndrome. A new drug application for relacorilant is expected to be submitted in the second half of 2023.
Relacorilant is also being investigated in phase III of the GRADIENT study in patients whose Cushing’s syndrome is caused by adrenal adenoma.
A phase Ib study is evaluating relacorilant in combination with Merck’s (MRK - Free Report) PD-1 checkpoint inhibitor, Keytruda (pembrolizumab), for treating patients suffering from adrenal cancer along with cortisol excess.
Pharma giant Merck’s biggest revenue generator, Keytruda, is approved for treating several types of cancer indications. MRK continues to study Keytruda to address more cancer indications.
Relacorilant, in combination with nab-paclitaxel, is also being evaluated in the phase III ROSELLA study for the treatment of patients with platinum-resistant ovarian cancer.
Corcept’s other pipeline candidates are also progressing well.
Earlier this month, the company initiated the phase II DAZALS study evaluating its pipeline candidate, dazucorilant, for treating patients with amyotrophic lateral sclerosis, a destructive neuromuscular illness.
The company is evaluating miricorilant in the phase II GRATITUDE study for treating the reversal of antipsychotic-induced weight gain (“AIWG”). The phase II GRATITUDE 2 study is investigating miricorilant to reverse long-standing AIWG. Data from both studies are expected by the end of 2022.
CORT is conducting a phase Ib dose-finding study investigating miricorilant in patients with presumed non-alcoholic steatohepatitis. Data from the same is also expected in the fourth quarter of 2022.
The successful development and potential approval of other candidates will lend a boost to Corcept and likely lower its dependence on Korlym.
However, the company remains heavily dependent on Korlym for growth, which is a woe. Moreover, its pipeline is still some years away from commercialization. Hence, a decline in Korlym sales will significantly hurt the company’s prospects.
Corcept Therapeutics Incorporated Price and Consensus
Corcept Therapeutics Incorporated price-consensus-chart | Corcept Therapeutics Incorporated Quote
Zacks Rank & Stocks to Consider
Corcept currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector are Fusion Pharmaceuticals Inc. (FUSN - Free Report) and Aerie Pharmaceuticals, Inc. , both carrying a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss per share estimates for Fusion Pharmaceuticals narrowed 3.5% for 2022 and 6.8% for 2023 in the past 60 days.
Earnings of Fusion Pharmaceuticals have surpassed estimates in each of the trailing four quarters. FUSN delivered an earnings surprise of 16.22%, on average.
Loss per share estimates for Aerie Pharmaceuticals narrowed 0.5% for 2022 and 4.9% for 2023 in the past 60 days.
Earnings of Aerie Pharmaceuticals have surpassed estimates in two of the trailing four quarters and missed on the other two occasions. AERI delivered an earnings surprise of 70.27%, on average.