On Apr 5, we issued an updated research report on Corcept Therapeutics Incorporated (CORT - Free Report) .
Corcept’s only marketed drug, Korlym, is approved for the once-daily oral treatment of hyperglycemia — secondary to hypercortisolism — in adult patients with endogenous Cushing’s syndrome. The subjects suffer type II diabetes or glucose intolerance and have also experienced a failed surgery or are not suitable for one.
Last December, the United States Patent and Trademark Office allowed a patent, covering the use of Korlym, thus enabling it to stiff-arm the generic competitors for a longer period. The patent will expire in 2037.
Shares of Corcept have lost 10.2% so far this year against the industry’s rally of 19.6%.
Corcept’s proprietary, selective cortisol modulator is relacorilant. The company completed enrollment in the phase II study of relacorilant for addressing Cushing's syndrome.
Last November, Corcept dosed the first patient in the phase III study of relacorilant to treat Cushing’s syndrome. Last June, Corcept announced positive data from a phase I/II analysis on relacorilant in combination with Celgene's (CELG - Free Report) Abraxane (nab-paclitaxel) for treating patients with solid tumors. A phase II probe on relacorilant plus Abraxane is currently underway for the cure of ovarian cancer.
Meanwhile, Corcept expects to release results from the dose-finding study of relacorilant plus Abraxane to treat patients with metastatic, pancreatic cancer in the second quarter of 2019.
Corcept’s lead compound for metabolic disorders is CORT118335. The company plans to conduct an open placebo-controlled investigation on the antipsychotic-induced weight gain syndrome during the second quarter of 2019 and two studies on the reversal of antipsychotic-induced weight gain in the second half of the year. Another phase II analysis on CORT118335 as a therapy for non-alcoholic steatohepatitis (NASH) is also planned in the second half of 2019.
Additionally, Corcept is dosing patients in its phase I/II study of CORT125281, a combined regime with Pfizer’s (PFE - Free Report) Xtandi, to attend patients afflicted with metastatic castration-resistant prostate cancer. The company plans to advance the same to the phase II development stage this year.
Notably, Korlym has been performing well since its launch. Corcept is currently working on developing Korlym for more indications. Revenues are rising as physicians are increasingly prescribing Korlym to patients. Further, the company expects significant revenue growth in 2019 and beyond. However, Corcept is solely dependent on Korlym for growth. A decline in its sales will massively erode the company’s growth prospects. Moreover, Korlym faces stiff competition from Novartis’ (NVS - Free Report) drug Signifor, which is approved for the treatment of adult patients with Cushing’s disease for whom, surgery failed.
Corcept Therapeutics Incorporated Price and Consensus
Corcept currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>