Corcept Therapeutics (CORT Quick QuoteCORT - Free Report) incurred a first-quarter 2026 loss of 30 cents per share, in line with the Zacks Consensus Estimate. In the year-ago quarter, the company had reported earnings of 17 cents per share.

First-quarter revenues rose 4.9% year over year to $164.9 million but missed the Zacks Consensus Estimate of $172 million. The top line consisted solely of product sales from Cushing’s syndrome drug Korlym.

Revenues from Korlym, however, missed our model estimate of $169.3 million.

Year to date, shares of Corcept have rallied 33.7% against the industry’s decline of 2.5%.

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CORT’s Q1 Top Line & Cost Discussion

Corcept’s first-quarter 2026 sales were driven by its established Cushing’s syndrome franchise, with management highlighting rising demand for Korlym. The company said March and April marked all-time highs in the number of patients starting treatment, following completion of a transition to a new pharmacy vendor earlier in the quarter.

Importantly, management framed the period as a turning point for the business model. With the recent FDA approval of Lifyorli (relacorilant), the company expects future quarters to reflect sales from more than one medication, expanding its commercial footprint.

In March 2026, the FDA approved Corcept’s selective glucocorticoid receptor antagonist, Lifyorli (relacorilant), in combination with nab-paclitaxel for the treatment of adult patients with platinum-resistant ovarian cancer.

Management noted that in April 2026, Lifyorli, in combination with nab-paclitaxel, was added to NCCN Guidelines as a preferred regimen, with early uptake described as vigorous.

Research and development expenses increased 9.1% year over year to $66.3 million in the first quarter of 2026, reflecting continued investment across oncology and other pipeline programs. Meanwhile, selling, general and administrative expenses surged 60.3% year over year to $145.4 million, reflecting higher spending to support the launch of Lifyorli.

Corcept ended March 31, 2026, with cash and investments of $515.4 million, down from $532.4 million as of Dec 31, 2025.

2026 Guidance Raised

CORT raised its full-year 2026 revenue guidance to $950 million-$1.05 billion, signaling increased confidence as it transitions to a multi-product company. Previously, the company expected total revenues in the range of $900 million to $1 billion in 2026.

The Zacks Consensus Estimate for revenues is pegged at $922.4 million.

CORT's Pipeline Updates

Corcept has also submitted a marketing authorization application to the European Medicines Agency, seeking approval for relacorilant plus nab-paclitaxel to treat patients with platinum-resistant ovarian cancer. A final decision in Europe is expected by the end of 2026.

Corcept is also developing relacorilant for treating Cushing's syndrome.

Recently, the FDA issued a complete response letter (“CRL”) to the new drug application (NDA) seeking approval for relacorilant to treat patients with hypercortisolism (Cushing’s syndrome). This NDA was based on 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 currently engaging with the FDA to determine the best path forward to approval for relacorilant in Cushing’s syndrome.

Relacorilant, in combination with other anticancer therapies, is also being studied in other solid tumors, including platinum-sensitive ovarian, endometrial, cervical, pancreatic and prostate cancers.

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.

In a separate press release, Corcept announced two-year overall survival data from the phase II DAZALS study evaluating dazucorilant in patients with ALS.

Data from the same showed that over two years of treatment, patients receiving dazucorilant (300 mg) experienced an 87% reduction in the risk of death compared with those receiving a placebo. This is consistent with the 84% reduction in mortality risk observed after one year of treatment. The company plans to begin a phase III study of dazucorilant later in 2026.

CORT's Zacks Rank & Stocks to Consider

Corcept currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the drug/biotech sector are Theravance Biopharma (TBPH Quick QuoteTBPH - Free Report) , Agenus (AGEN Quick QuoteAGEN - Free Report) and Amarin (AMRN Quick QuoteAMRN - Free Report) , each currently 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 Theravance’s 2026 earnings per share have risen from 32 cents to $1.21, while estimates for 2027 have moved from a loss of 5 cents per share to earnings of 91 cents. TBPH shares have lost 10.6% year to date.

Theravance’s earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 33.82%.

Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 24.2% year to date.

Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.

Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $16.51 to $6.36, while the same for 2027 have narrowed from $14.73 to $4.64 during the same time. AMRN stock has decreased 0.4% year to date.

Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 50.02%.