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Corcept Therapeutics (CORT) investor relations material
Corcept Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Q3 2025 revenue reached $207.6 million, up 13.8% year-over-year, driven by hypercortisolism business growth and record new prescriptions.
Net income declined to $19.7 million from $47.2 million in Q3 2024, primarily due to higher operating expenses related to R&D and product launches.
Strong growth in hypercortisolism segment, with a 42.5% increase in tablets shipped and expanded prescriber base.
Pipeline advanced with two NDAs for relacorilant under FDA review and expanded oncology and metabolic disease programs.
Transition to new pharmacy partners underway to address capacity constraints, with additional pharmacies planned for 2026.
Financial highlights
Q3 2025 product revenue was $207.6 million, up from $182.5 million in Q3 2024.
Net income for Q3 2025 was $19.7 million, down from $47.2 million year-over-year.
Cash and investments totaled $524.2 million as of September 30, 2025, after $50–$50.6 million in stock repurchases.
Operating expenses increased to $197.4 million in Q3 2025, mainly due to R&D and SG&A for new product launches.
Gross margin remained high, with cost of sales at 2.2% of revenue for Q3 2025.
Outlook and guidance
2025 revenue guidance updated to $800–$850 million, reflecting capacity constraints and anticipated demand.
Anticipation of FDA approval for relacorilant in hypercortisolism by December 30, 2025, and in ovarian cancer by July 2026.
Additional specialty pharmacies to be added to support growth and meet demand.
Relacorilant projected to generate $3–$5 billion in annual revenue in hypercortisolism within 3–5 years.
R&D spending expected to remain flat in 2026; SG&A to increase with new launches and clinical studies.
Future pharmacy capacity to meet demand
Teva patent appeal decision timeline and impact
Replicate DAZALS 84% death risk reduction
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Next Corcept Therapeutics earnings date
Q4 202518 Feb, 2026
Next Corcept Therapeutics earnings date
Q4 202518 Feb, 2026
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Corcept Therapeutics Incorporated is a pharmaceutical company focused on developing and commercializing therapies that modulate the effects of cortisol. The company targets endocrine disorders, cancer, and psychiatric conditions with proprietary small-molecule compounds. The company is headquartered in Menlo Park, California, and its shares are listed on the NASDAQ.
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