Corcept Therapeutics (CORT)
Market Price (7/31/2026): $117.0 | Market Cap: $12.3 BilSector: Health Care | Industry: Pharmaceuticals
Corcept Therapeutics (CORT)
Market Price (7/31/2026): $117.0Market Cap: $12.3 BilSector: Health CareIndustry: Pharmaceuticals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 1,947x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 114x, P/EPrice/Earnings or Price/(Net Income) is 226x Stock price has recently run up significantly6M Rtn6 month market price return is 165% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 174% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.9% Key risksCORT key risks include [1] patent litigation threatening market exclusivity for its primary drug, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 1,947x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 114x, P/EPrice/Earnings or Price/(Net Income) is 226x |
| Stock price has recently run up significantly6M Rtn6 month market price return is 165% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 174% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.9% |
| Key risksCORT key risks include [1] patent litigation threatening market exclusivity for its primary drug, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 7/30/2026
Corcept Therapeutics (CORT) stock has gained about 195% since 3/31/2026 because of the following key factors:
1. FDA Approval and Successful Launch of Lifyorli for Platinum-Resistant Ovarian Cancer.
Corcept Therapeutics received U.S. Food and Drug Administration (FDA) approval for Lifyorli (relacorilant) in combination with nab-paclitaxel for adults with platinum-resistant ovarian cancer on March 25, 2026. This approval, which came 3.5 months ahead of the Prescription Drug User Fee Act (PDUFA) goal date, marked the company's first oncology product and established relacorilant as the first FDA-approved selective glucocorticoid receptor antagonist. Following its commercial launch in April 2026 (fiscal Q2 2026), Lifyorli generated $47.6 million in its first quarter of sales, exceeding initial expectations with over 1,300 patients starting treatment.
2. Exceptional Fiscal Q2 2026 Earnings Performance.
The company reported robust financial results for fiscal Q2 2026 on July 29, 2026, significantly beating analyst estimates. Corcept's diluted earnings per share (EPS) reached $0.36, crushing the estimated $0.04 by 671%. Product revenue for the quarter was $256.1 million, a 32% increase year-over-year from fiscal Q2 2025 and a 55% sequential increase from fiscal Q1 2026, surpassing the consensus estimate of $220.1 million.
Show more
Corcept Therapeutics (CORT) stock has gained about 195% since 3/31/2026 because of the following key factors:
1. FDA Approval and Successful Launch of Lifyorli for Platinum-Resistant Ovarian Cancer.
Corcept Therapeutics received U.S. Food and Drug Administration (FDA) approval for Lifyorli (relacorilant) in combination with nab-paclitaxel for adults with platinum-resistant ovarian cancer on March 25, 2026. This approval, which came 3.5 months ahead of the Prescription Drug User Fee Act (PDUFA) goal date, marked the company's first oncology product and established relacorilant as the first FDA-approved selective glucocorticoid receptor antagonist. Following its commercial launch in April 2026 (fiscal Q2 2026), Lifyorli generated $47.6 million in its first quarter of sales, exceeding initial expectations with over 1,300 patients starting treatment.
2. Exceptional Fiscal Q2 2026 Earnings Performance.
The company reported robust financial results for fiscal Q2 2026 on July 29, 2026, significantly beating analyst estimates. Corcept's diluted earnings per share (EPS) reached $0.36, crushing the estimated $0.04 by 671%. Product revenue for the quarter was $256.1 million, a 32% increase year-over-year from fiscal Q2 2025 and a 55% sequential increase from fiscal Q1 2026, surpassing the consensus estimate of $220.1 million.
Show more
Updated on 7/30/2026
Corcept Therapeutics (CORT) stock has gained about 195% since 3/31/2026 because of the following key factors:
1. FDA Approval and Successful Launch of Lifyorli for Platinum-Resistant Ovarian Cancer.
Corcept Therapeutics received U.S. Food and Drug Administration (FDA) approval for Lifyorli (relacorilant) in combination with nab-paclitaxel for adults with platinum-resistant ovarian cancer on March 25, 2026. This approval, which came 3.5 months ahead of the Prescription Drug User Fee Act (PDUFA) goal date, marked the company's first oncology product and established relacorilant as the first FDA-approved selective glucocorticoid receptor antagonist. Following its commercial launch in April 2026 (fiscal Q2 2026), Lifyorli generated $47.6 million in its first quarter of sales, exceeding initial expectations with over 1,300 patients starting treatment.
2. Exceptional Fiscal Q2 2026 Earnings Performance.
The company reported robust financial results for fiscal Q2 2026 on July 29, 2026, significantly beating analyst estimates. Corcept's diluted earnings per share (EPS) reached $0.36, crushing the estimated $0.04 by 671%. Product revenue for the quarter was $256.1 million, a 32% increase year-over-year from fiscal Q2 2025 and a 55% sequential increase from fiscal Q1 2026, surpassing the consensus estimate of $220.1 million.
3. Upward Revision of Full-Year 2026 Revenue Guidance.
Driven by the strong performance of both its Cushing's syndrome franchise (Korlym) and the rapid uptake of Lifyorli, Corcept Therapeutics raised its full-year 2026 revenue guidance. The company now anticipates revenue between $1.1 billion and $1.2 billion, an increase from its prior guidance of $950 million to $1.05 billion.
4. Positive Analyst Sentiment and Price Target Increases.
Following the strong fiscal Q2 2026 results and the raised guidance, multiple financial analysts increased their price targets for Corcept Therapeutics. For instance, Canaccord raised its price target to $150 from $135, and H.C. Wainwright increased its target to $165 from $95, both reiterating Buy ratings, reflecting heightened investor optimism for the company's expanded commercial presence in oncology.
5. Continued Progress in the Relacorilant Pipeline for Cushing's Syndrome.
Corcept advanced its pipeline for relacorilant, specifically highlighting the resubmission of its New Drug Application (NDA) for Cushing's syndrome. The FDA has assigned a PDUFA date of December 17, 2026, for this indication, signaling another potential significant regulatory milestone and future revenue stream. This diversified pipeline reduces reliance on a single product and offers additional growth prospects.
Show less
Corcept Therapeutics (CORT) stock has gained about 195% since 3/31/2026 because of the following key factors:
1. FDA Approval and Successful Launch of Lifyorli for Platinum-Resistant Ovarian Cancer.
Corcept Therapeutics received U.S. Food and Drug Administration (FDA) approval for Lifyorli (relacorilant) in combination with nab-paclitaxel for adults with platinum-resistant ovarian cancer on March 25, 2026. This approval, which came 3.5 months ahead of the Prescription Drug User Fee Act (PDUFA) goal date, marked the company's first oncology product and established relacorilant as the first FDA-approved selective glucocorticoid receptor antagonist. Following its commercial launch in April 2026 (fiscal Q2 2026), Lifyorli generated $47.6 million in its first quarter of sales, exceeding initial expectations with over 1,300 patients starting treatment.
2. Exceptional Fiscal Q2 2026 Earnings Performance.
The company reported robust financial results for fiscal Q2 2026 on July 29, 2026, significantly beating analyst estimates. Corcept's diluted earnings per share (EPS) reached $0.36, crushing the estimated $0.04 by 671%. Product revenue for the quarter was $256.1 million, a 32% increase year-over-year from fiscal Q2 2025 and a 55% sequential increase from fiscal Q1 2026, surpassing the consensus estimate of $220.1 million.
3. Upward Revision of Full-Year 2026 Revenue Guidance.
Driven by the strong performance of both its Cushing's syndrome franchise (Korlym) and the rapid uptake of Lifyorli, Corcept Therapeutics raised its full-year 2026 revenue guidance. The company now anticipates revenue between $1.1 billion and $1.2 billion, an increase from its prior guidance of $950 million to $1.05 billion.
4. Positive Analyst Sentiment and Price Target Increases.
Following the strong fiscal Q2 2026 results and the raised guidance, multiple financial analysts increased their price targets for Corcept Therapeutics. For instance, Canaccord raised its price target to $150 from $135, and H.C. Wainwright increased its target to $165 from $95, both reiterating Buy ratings, reflecting heightened investor optimism for the company's expanded commercial presence in oncology.
5. Continued Progress in the Relacorilant Pipeline for Cushing's Syndrome.
Corcept advanced its pipeline for relacorilant, specifically highlighting the resubmission of its New Drug Application (NDA) for Cushing's syndrome. The FDA has assigned a PDUFA date of December 17, 2026, for this indication, signaling another potential significant regulatory milestone and future revenue stream. This diversified pipeline reduces reliance on a single product and offers additional growth prospects.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 193.5% change in CORT stock from 3/31/2026 to 7/30/2026 was primarily driven by a 438.7% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7302026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.31 | 118.32 | 193.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 761 | 831 | 9.1% |
| Net Income Margin (%) | 13.1% | 6.6% | -49.3% |
| P/E Multiple | 41.9 | 225.9 | 438.7% |
| Shares Outstanding (Mil) | 104 | 105 | -1.6% |
| Cumulative Contribution | 193.5% |
Market Drivers
3/31/2026 to 7/30/2026| Return | Correlation | |
|---|---|---|
| CORT | 193.5% | |
| Market (SPY) | 14.0% | 29.6% |
| Sector (XLV) | 11.5% | 6.8% |
Fundamental Drivers
The 240.0% change in CORT stock from 12/31/2025 to 7/30/2026 was primarily driven by a 565.4% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7302026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.80 | 118.32 | 240.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 741 | 831 | 12.1% |
| Net Income Margin (%) | 14.3% | 6.6% | -53.6% |
| P/E Multiple | 34.0 | 225.9 | 565.4% |
| Shares Outstanding (Mil) | 104 | 105 | -1.7% |
| Cumulative Contribution | 240.0% |
Market Drivers
12/31/2025 to 7/30/2026| Return | Correlation | |
|---|---|---|
| CORT | 240.0% | |
| Market (SPY) | 9.1% | 33.6% |
| Sector (XLV) | 6.1% | 18.7% |
Fundamental Drivers
The 61.2% change in CORT stock from 6/30/2025 to 7/30/2026 was primarily driven by a 296.2% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7302026 | Change |
|---|---|---|---|
| Stock Price ($) | 73.40 | 118.32 | 61.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 685 | 831 | 21.2% |
| Net Income Margin (%) | 19.5% | 6.6% | -66.0% |
| P/E Multiple | 57.0 | 225.9 | 296.2% |
| Shares Outstanding (Mil) | 104 | 105 | -1.2% |
| Cumulative Contribution | 61.2% |
Market Drivers
6/30/2025 to 7/30/2026| Return | Correlation | |
|---|---|---|
| CORT | 61.2% | |
| Market (SPY) | 21.1% | 30.7% |
| Sector (XLV) | 22.9% | 19.8% |
Fundamental Drivers
The 431.8% change in CORT stock from 6/30/2023 to 7/30/2026 was primarily driven by a 789.5% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7302026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.25 | 118.32 | 431.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 414 | 831 | 100.8% |
| Net Income Margin (%) | 22.8% | 6.6% | -70.9% |
| P/E Multiple | 25.4 | 225.9 | 789.5% |
| Shares Outstanding (Mil) | 108 | 105 | 2.4% |
| Cumulative Contribution | 431.8% |
Market Drivers
6/30/2023 to 7/30/2026| Return | Correlation | |
|---|---|---|
| CORT | 431.8% | |
| Market (SPY) | 73.2% | 22.2% |
| Sector (XLV) | 29.0% | 18.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CORT Return | -24% | 3% | 60% | 55% | -31% | 167% | 255% |
| Peers Return | 3% | 54% | 48% | 39% | 43% | 19% | 461% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 95% |
Monthly Win Rates [3] | |||||||
| CORT Win Rate | 33% | 42% | 67% | 67% | 50% | 86% | |
| Peers Win Rate | 50% | 43% | 47% | 53% | 50% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| CORT Max Drawdown | -44% | -33% | -27% | -35% | -70% | -30% | |
| Peers Max Drawdown | -49% | -46% | -47% | -40% | -38% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRNX, XERS, MDGL, VKTX, BIIB. See CORT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/30/2026 (YTD)
How Low Can It Go
| Event | CORT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -26.2% | -18.8% |
| % Gain to Breakeven | 35.4% | 23.1% |
| Time to Breakeven | 25 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.7% | -6.7% |
| % Gain to Breakeven | 20.1% | 7.1% |
| Time to Breakeven | 61 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -18.7% | -24.5% |
| % Gain to Breakeven | 23.0% | 32.4% |
| Time to Breakeven | 20 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.0% | -33.7% |
| % Gain to Breakeven | 36.9% | 50.9% |
| Time to Breakeven | 60 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.2% | -19.2% |
| % Gain to Breakeven | 28.5% | 23.8% |
| Time to Breakeven | 48 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -40.1% | -12.2% |
| % Gain to Breakeven | 67.1% | 13.9% |
| Time to Breakeven | 117 days | 62 days |
In The Past
Corcept Therapeutics's stock fell -26.2% during the 2025 US Tariff Shock. Such a loss loss requires a 35.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | CORT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -26.2% | -18.8% |
| % Gain to Breakeven | 35.4% | 23.1% |
| Time to Breakeven | 25 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.0% | -33.7% |
| % Gain to Breakeven | 36.9% | 50.9% |
| Time to Breakeven | 60 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.2% | -19.2% |
| % Gain to Breakeven | 28.5% | 23.8% |
| Time to Breakeven | 48 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -40.1% | -12.2% |
| % Gain to Breakeven | 67.1% | 13.9% |
| Time to Breakeven | 117 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -33.9% | -17.9% |
| % Gain to Breakeven | 51.4% | 21.8% |
| Time to Breakeven | 152 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -75.8% | -53.4% |
| % Gain to Breakeven | 313.3% | 114.4% |
| Time to Breakeven | 343 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -21.5% | -8.6% |
| % Gain to Breakeven | 27.5% | 9.5% |
| Time to Breakeven | 7 days | 47 days |
In The Past
Corcept Therapeutics's stock fell -26.2% during the 2025 US Tariff Shock. Such a loss loss requires a 35.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Corcept Therapeutics (CORT)
Corcept Therapeutics (CORT) is a biotechnology company dedicated to discovering, developing, and commercializing innovative drugs within the United States. The company's primary focus is on addressing severe metabolic, oncologic, and neuropsychiatric disorders, with a core emphasis on conditions stemming from cortisol excess or imbalance.
The cornerstone of Corcept's commercial operations is Korlym (mifepristone), an oral medication approved for adult patients with endogenous Cushing's syndrome. Korlym specifically treats hyperglycemia, a common symptom of hypercortisolism, in patients who also have type 2 diabetes mellitus or glucose intolerance and for whom surgery is not an option or has failed. This establishes Corcept's current market in a specialized endocrine disorder.
Looking to the future, Corcept possesses a strong pipeline of drug candidates, primarily selective cortisol modulators, to expand its therapeutic reach. Key developmental assets include relacorilant, intended to treat Cushing's syndrome, and a combination of nab-paclitaxel with relacorilant, which has shown promise in Phase II trials for advanced ovarian tumors and other forms of cortisol excess. The company is also exploring selective cortisol modulators for metastatic castration-resistant prostate cancer and for mitigating antipsychotic-induced weight gain, signaling potential entry into broader oncology and neuropsychiatric markets.
AI Analysis | Feedback
A rare disease drug developer, similar to Vertex Pharmaceuticals, but specializing in conditions caused by excess cortisol.
A specialized pharmaceutical company, akin to how Jazz Pharmaceuticals targets specific unmet needs in areas like narcolepsy and oncology, but focused on disorders related to cortisol modulation.
AI Analysis | Feedback
- Korlym (mifepristone): An oral medication for adult patients with endogenous Cushing's syndrome to treat hyperglycemia secondary to hypercortisolism.
- Relacorilant: A drug in development primarily for treating patients with Cushing's syndrome.
- Nab-paclitaxel in combination with relacorilant: A therapeutic combination under development for advanced ovarian tumors and cortisol excess.
- Selective cortisol modulator (for metastatic castration-resistant prostate cancer): A selective cortisol modulator in development to treat metastatic castration-resistant prostate cancer.
- Selective cortisol modulator (for antipsychotic-induced weight gain and other disorders): A selective cortisol modulator in development for antipsychotic-induced weight gain and other disorders.
- FKBP5 gene expression assays: Diagnostic or research tools for analyzing FKBP5 gene expression.
AI Analysis | Feedback
Corcept Therapeutics (CORT) is a pharmaceutical company that develops and commercializes prescription drugs. As such, it primarily sells its products to other companies within the healthcare supply chain, rather than directly to individual patients.
The major customers for pharmaceutical companies like Corcept are typically large drug wholesale distributors, who then distribute the medications to pharmacies, hospitals, and other healthcare providers. Based on industry standards, the major customers for Corcept Therapeutics are likely:
- McKesson Corporation (MCK)
- AmerisourceBergen Corporation (ABC)
- Cardinal Health, Inc. (CAH)
AI Analysis | Feedback
null
AI Analysis | Feedback
Joseph K. Belanoff, M.D., Chief Executive Officer and President
Dr. Belanoff is a co-founder of Corcept Therapeutics, which was established in May 1998. He has served as the company's Chief Executive Officer since 1999 and as President since 2014. He has been an Adjunct Professor of Psychiatry at Stanford University since 1992. Dr. Belanoff holds a B.A. from Amherst College and an M.D. from Columbia University's College of Physicians & Surgeons. He has been instrumental in guiding Corcept from a research-focused entity to a commercial biopharmaceutical company with the approval of Korlym.
Atabak Mokari, Chief Financial Officer and Treasurer
Mr. Mokari joined Corcept Therapeutics as Chief Financial Officer in March 2021. He brings nearly 20 years of leadership experience in life sciences and healthcare finance. Before joining Corcept, he served as Chief Financial Officer and Vice President of Corporate Development at Bellicum Pharmaceuticals, Inc. from 2018 to 2020. From 2016 to 2018, he held the same role at medical device manufacturer IRIDEX Corporation. Mr. Mokari also worked as a director in healthcare investment banking at Wells Fargo Securities LLC (2013-2016), UBS (2009-2013), and Credit Suisse (2005-2009).
Charles Robb, Chief Business Officer and Secretary
Mr. Robb has served as Corcept's Chief Business Officer since March 2021, and as Secretary since January 2014. Prior to this, he was the company's Chief Financial Officer from September 2011 to March 2021. He possesses over 30 years of experience in executive management, operations, and finance. His past roles include Senior Vice President of Operations, Administration and Finance at Fitness Anywhere, Inc. He also founded a division at Citadon, Inc., focusing on workflow and analytic software for real estate lenders from 2000 to 2002. Mr. Robb practiced law from 1992 to 1996. He earned a B.A. from Yale University and a J.D. from Harvard Law School.
William Guyer, Pharm.D., Chief Development Officer
Dr. Guyer oversees Corcept Therapeutics' development pipeline, which includes the promising relacorilant program.
Hazel Hunt, Ph.D., Chief Scientific Officer
Dr. Hunt leads the discovery efforts for new selective cortisol modulators at Corcept Therapeutics.
AI Analysis | Feedback
Corcept Therapeutics (CORT) faces several key risks to its business:
- Regulatory Setback and Litigation for Relacorilant: The U.S. Food and Drug Administration (FDA) issued a Complete Response Letter (CRL) for relacorilant, Corcept's drug candidate for hypercortisolism, citing the need for additional evidence of effectiveness. This decision followed FDA concerns about the adequacy of the clinical development program, potential overestimation of efficacy in one trial, and safety concerns including drug-induced liver injury. This regulatory setback led to a significant decline in Corcept's stock price and has resulted in multiple shareholder class-action lawsuits alleging that the company misrepresented FDA communications and the likelihood of approval for relacorilant. The company will likely need to generate new clinical data to address the FDA's concerns.
- Patent Litigation and Generic Competition for Korlym: Corcept's current primary revenue-generating product, Korlym, is protected by patents with expiration dates ranging from 2028 to 2037. However, Korlym has been the subject of ongoing patent litigations, with companies like Teva Pharmaceuticals and Neptune Generics LLC challenging the validity of these patents. Successful challenges could lead to an earlier-than-expected entry of generic versions of Korlym, which would significantly impact Corcept's revenue and market share.
- Dependence on a Concentrated Product Portfolio: With Korlym as its main commercial product and relacorilant facing significant regulatory delays, Corcept Therapeutics remains highly dependent on a concentrated product portfolio. The setback for relacorilant, which was expected to be a key driver for future growth and diversification, highlights the risk associated with relying heavily on a limited number of drugs. Any adverse developments related to Korlym, such as increased competition or safety concerns, could have a disproportionately large impact on the company's financial performance.
AI Analysis | Feedback
null
AI Analysis | Feedback
Here's the information on the addressable markets for Corcept Therapeutics' main products:
- Korlym (mifepristone) for Cushing's syndrome and relacorilant for Cushing's syndrome: The Cushing's disease market in the seven major markets (7MM: United States, EU4, UK, and Japan) was approximately USD 1,089 million in 2025. In 2024, the United States accounted for nearly USD 930 million of this market.
- Nab-paclitaxel in combination with relacorilant for advanced ovarian tumors: The global advanced recurrent ovarian cancer market was valued at USD 3.70 billion in 2023 and is projected to reach USD 5.79 billion by the end of 2030.
- Selective cortisol modulator to treat patients with metastatic castration-resistant prostate cancer: The total metastatic castration-resistant prostate cancer (mCRPC) market size across the seven major markets (7MM) was estimated at nearly USD 7,275.4 million in 2024. The United States market alone was approximately USD 4.4 billion in 2023.
- Selective cortisol modulator for the treatment of antipsychotic-induced weight gain and other disorders: null
AI Analysis | Feedback
Corcept Therapeutics (CORT) is poised for future revenue growth over the next 2-3 years, driven by several key factors pertaining to its existing and pipeline products.
Here are the expected drivers of future revenue growth for Corcept Therapeutics:
- Continued Growth of Korlym Sales: The company's sole marketed drug, Korlym, for Cushing's syndrome, is expected to continue its growth trajectory. Corcept anticipates sustained demand and has enhanced its specialty pharmacy capacity to meet this demand. For example, 2025 revenue from Korlym was $761 million, an increase from the prior year. Management forecasts a 2026 revenue guidance of $900 million to $1 billion, largely attributed to the Cushing's syndrome business.
- Launch and Commercialization of Relacorilant for Platinum-Resistant Ovarian Cancer: A significant near-term revenue driver is the anticipated approval and launch of relacorilant in combination with nab-paclitaxel for patients with platinum-resistant ovarian cancer. The FDA has set a Prescription Drug User Fee Act (PDUFA) target action date of July 11, 2026, for this indication. Positive Phase 3 ROSELLA trial results demonstrated a 35% reduction in the risk of death, leading to high expectations for approval and market adoption. Additionally, European approval is expected by the end of 2026.
- Re-engagement and Potential Approval Pathway for Relacorilant in Cushing's Syndrome: While the FDA issued a Complete Response Letter (CRL) for relacorilant in Cushing's syndrome in December 2025, Corcept is actively engaged with the FDA to determine the best path forward for approval. The company remains confident in the ultimate approval of relacorilant for this indication, which, once resolved, could significantly contribute to revenue as it is expected to eventually replace Korlym and address a broader patient population.
- Advancement and Expansion into Additional Oncology Indications: Corcept is expanding its pipeline for relacorilant beyond platinum-resistant ovarian cancer, exploring its potential in other oncology areas. This includes ongoing studies in earlier-stage ovarian, endometrial, cervical, and pancreatic cancers. Results from the Phase 2 BELLA trial in additional ovarian and endometrial cancer settings are expected in late 2026, potentially opening new markets within the next two to three years as these trials progress toward further regulatory submissions.
AI Analysis | Feedback
Share Repurchases
- Corcept Therapeutics announced a program in January 2024 to repurchase up to $200 million of its common stock.
- In 2025, the company paid $245.9 million to purchase its common stock, which included amounts from its stock repurchase program, net exercise of employee stock options, and net vesting of restricted stock grants.
- In April 2023, Corcept purchased 6.6 million shares of its common stock for $145.4 million.
Share Issuance
- Shares outstanding were 106 million in Q4 2025, an increase of 0.7% from the prior quarter.
Capital Expenditures
- Corcept Therapeutics invested $50,000 in capital expenditures in Q4 2025.
- Capital expenditures for the fiscal year ending December 31, 2025, were reported as -$211,000 (implying a net inflow, or very low investment).
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 100.97 |
| Mkt Cap | 10.6 |
| Rev LTM | 573 |
| Op Inc LTM | -158 |
| FCF LTM | -79 |
| FCF 3Y Avg | -111 |
| CFO LTM | -75 |
| CFO 3Y Avg | -110 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 41.5% |
| Rev Chg 3Y Avg | 31.2% |
| Rev Chg Q | 38.3% |
| QoQ Delta Rev Chg LTM | 8.0% |
| Op Inc Chg LTM | -33.3% |
| Op Inc Chg 3Y Avg | -17.9% |
| Op Mgn LTM | 0.8% |
| Op Mgn 3Y Avg | -8.3% |
| QoQ Delta Op Mgn LTM | 2.6% |
| CFO/Rev LTM | 13.2% |
| CFO/Rev 3Y Avg | -6.9% |
| FCF/Rev LTM | 12.9% |
| FCF/Rev 3Y Avg | -7.5% |
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA220641 | LIFYORLI (COPACKAGED) | relacorilant | capsule | 3252026 | 101.5% | 192.4% | 192.4% | 192.4% | 192.4% |
| NDA202107 | KORLYM | mifepristone | tablet | 2172012 | 28.1% | 0.7% | -39.9% | 2.0% | 3,805.0% |
| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA220641 | LIFYORLI (COPACKAGED) | relacorilant | capsule | 3252026 | 101.5% | 192.4% | 192.4% | 192.4% | 192.4% |
| NDA202107 | KORLYM | mifepristone | tablet | 2172012 | 28.1% | 0.7% | -39.9% | 2.0% | 3,805.0% |
Price Behavior
Price Behavior
| Market Price | $118.32 | |
| Market Cap ($ Bil) | 12.4 | |
| First Trading Date | 04/14/2004 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $81.69 | $61.31 |
| DMA Trend | up | up |
| Distance from DMA | 44.8% | 93.0% |
| 3M | 1YR | |
| Volatility | 75.4% | 82.1% |
| Downside Capture | -90.20 | 240.41 |
| Upside Capture | 350.68 | 257.72 |
| Correlation (SPY) | 20.5% | 28.0% |
CORT Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.69 | 0.87 | 0.94 | 1.91 | 1.79 | 1.27 |
| Up Beta | 0.38 | -0.28 | 0.56 | 0.21 | 0.33 | 0.51 |
| Down Beta | 2.28 | 2.24 | 1.63 | 0.82 | 1.64 | 1.12 |
| Up Capture | 170% | 331% | 288% | 502% | 464% | 1296% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 15 | 29 | 45 | 75 | 144 | 408 |
| Down Capture | -98% | -154% | -87% | 230% | 175% | 111% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 6 | 12 | 18 | 50 | 107 | 342 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CORT | |
|---|---|---|---|---|
| CORT | 73.9% | 82.0% | 1.11 | - |
| Sector ETF (XLV) | 23.3% | 15.9% | 1.13 | 20.7% |
| Equity (SPY) | 17.8% | 12.9% | 1.01 | 30.2% |
| Gold (GLD) | 23.3% | 28.1% | 0.73 | 21.9% |
| Commodities (DBC) | 29.4% | 19.7% | 1.19 | 2.6% |
| Real Estate (VNQ) | 12.7% | 13.9% | 0.62 | 8.6% |
| Bitcoin (BTCUSD) | -46.2% | 42.9% | -1.32 | 15.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CORT | |
|---|---|---|---|---|
| CORT | 43.8% | 75.6% | 0.77 | - |
| Sector ETF (XLV) | 6.3% | 15.0% | 0.24 | 19.9% |
| Equity (SPY) | 12.7% | 17.1% | 0.57 | 22.9% |
| Gold (GLD) | 17.4% | 18.4% | 0.76 | 11.4% |
| Commodities (DBC) | 9.0% | 19.5% | 0.35 | 5.1% |
| Real Estate (VNQ) | 2.8% | 18.9% | 0.05 | 16.2% |
| Bitcoin (BTCUSD) | 14.5% | 53.3% | 0.45 | 8.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CORT | |
|---|---|---|---|---|
| CORT | 36.0% | 67.7% | 0.72 | - |
| Sector ETF (XLV) | 10.0% | 16.6% | 0.49 | 24.9% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 25.7% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 7.4% |
| Commodities (DBC) | 7.2% | 18.0% | 0.32 | 7.6% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 16.3% |
| Bitcoin (BTCUSD) | 57.8% | 66.2% | 0.98 | 5.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 7/29/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | 10.5% | 9.7% | 51.4% |
| 2/24/2026 | -0.7% | -3.3% | 10.9% |
| 11/4/2025 | 7.8% | 11.1% | 21.1% |
| 7/31/2025 | 2.7% | 6.4% | 3.8% |
| 5/5/2025 | -4.3% | -2.4% | -5.4% |
| 2/26/2025 | -5.6% | -12.4% | -10.6% |
| 10/30/2024 | 4.4% | 15.7% | 23.0% |
| 7/29/2024 | -1.1% | -5.5% | -5.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 12 | 15 |
| # Negative | 13 | 12 | 9 |
| Median Positive | 4.9% | 8.2% | 20.8% |
| Median Negative | -4.7% | -7.6% | -7.5% |
| Max Positive | 24.9% | 22.5% | 51.4% |
| Max Negative | -10.4% | -13.9% | -18.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | 10.5% | 9.7% | 51.4% |
| 2/24/2026 | -0.7% | -3.3% | 10.9% |
| 11/4/2025 | 7.8% | 11.1% | 21.1% |
| 7/31/2025 | 2.7% | 6.4% | 3.8% |
| 5/5/2025 | -4.3% | -2.4% | -5.4% |
| 2/26/2025 | -5.6% | -12.4% | -10.6% |
| 10/30/2024 | 4.4% | 15.7% | 23.0% |
| 7/29/2024 | -1.1% | -5.5% | -5.1% |
| 5/1/2024 | 4.9% | 6.4% | 26.3% |
| 2/15/2024 | -7.2% | -8.2% | -0.6% |
| 11/1/2023 | -10.0% | -8.3% | -7.5% |
| 8/2/2023 | 24.9% | 20.6% | 30.9% |
| 5/3/2023 | 3.9% | 3.9% | 0.7% |
| 2/28/2023 | -4.7% | 1.9% | 4.5% |
| 11/3/2022 | -10.4% | -9.3% | -18.0% |
| 8/3/2022 | -1.3% | -3.4% | -9.5% |
| 5/5/2022 | -9.9% | -12.7% | 0.5% |
| 2/15/2022 | 12.8% | 10.6% | 20.8% |
| 11/3/2021 | 10.1% | 22.5% | 14.6% |
| 7/29/2021 | 2.4% | 6.7% | 6.1% |
| 5/6/2021 | -2.8% | -3.6% | -1.5% |
| 2/23/2021 | -0.1% | -6.9% | -11.2% |
| 11/3/2020 | 2.1% | 3.1% | 31.2% |
| 8/4/2020 | -8.5% | -13.9% | 26.6% |
| SUMMARY STATS | |||
| # Positive | 11 | 12 | 15 |
| # Negative | 13 | 12 | 9 |
| Median Positive | 4.9% | 8.2% | 20.8% |
| Median Negative | -4.7% | -7.6% | -7.5% |
| Max Positive | 24.9% | 22.5% | 51.4% |
| Max Negative | -10.4% | -13.9% | -18.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/29/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/29/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/15/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/23/2021 | 10-K |
| 09/30/2020 | 11/03/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/04/2020 | 10-Q |
| 12/31/2019 | 02/24/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Recent Forward Guidance
Updated 7/30/2026Latest: Q2 2026 Earnings Reported 7/29/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.10 Bil | 1.15 Bil | 1.20 Bil | 15.0% | Raised | Guidance: 1.00 Bil for 2026 | |
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 950.00 Mil | 1.00 Bil | 1.05 Bil | Raised | Guidance: 950.00 Mil for 2026 | ||
Q4 2025 Earnings Reported 2/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 900.00 Mil | 950.00 Mil | 1.00 Bil | 15.2% | Higher New | Guidance: 825.00 Mil for 2025 | |
Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 800.00 Mil | 825.00 Mil | 850.00 Mil | -5.7% | Lowered | Guidance: 875.00 Mil for 2025 | |
Insider Activity
Updated 7/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wilson, James N | James N. Wilson and Pamela D. Wilson Trust | Sell | 7172026 | 88.30 | 10,000 | 882,986 | 95,763,588 | Form | |
| 2 | Mokari, Atabak | Chief Financial Officer | Direct | Sell | 7172026 | 87.71 | 40,000 | 3,508,277 | 1,414,713 | Form |
| 3 | Guyer, William | Chief Development Officer | Direct | Sell | 7082026 | 93.13 | 20,000 | 1,862,530 | 371,109 | Form |
| 4 | Maduck, Sean | See Remarks | Direct | Sell | 7062026 | 88.35 | 25,000 | 2,208,737 | 861,849 | Form |
| 5 | Mahoney, David L | The Black Dog Private Foundation | Sell | 6182026 | 84.53 | 20,000 | 1,690,506 | 2,210,083 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wilson, James N | James N. Wilson and Pamela D. Wilson Trust | Sell | 7172026 | 88.30 | 10,000 | 882,986 | 95,763,588 | Form | |
| 2 | Mokari, Atabak | Chief Financial Officer | Direct | Sell | 7172026 | 87.71 | 40,000 | 3,508,277 | 1,414,713 | Form |
| 3 | Guyer, William | Chief Development Officer | Direct | Sell | 7082026 | 93.13 | 20,000 | 1,862,530 | 371,109 | Form |
| 4 | Maduck, Sean | See Remarks | Direct | Sell | 7062026 | 88.35 | 25,000 | 2,208,737 | 861,849 | Form |
| 5 | Mahoney, David L | The Black Dog Private Foundation | Sell | 6182026 | 84.53 | 20,000 | 1,690,506 | 2,210,083 | Form | |
| 6 | Wilson, James N | James N. Wilson and Pamela D. Wilson Trust | Sell | 6182026 | 83.20 | 10,000 | 832,049 | 91,071,335 | Form | |
| 7 | Mokari, Atabak | Chief Financial Officer | Direct | Sell | 6172026 | 81.15 | 40,000 | 3,245,900 | 1,308,909 | Form |
| 8 | Guyer, William | Chief Development Officer | Direct | Sell | 6042026 | 70.60 | 20,000 | 1,412,000 | 281,341 | Form |
| 9 | Maduck, Sean | See Remarks | Direct | Sell | 6032026 | 70.21 | 25,000 | 1,755,183 | 630,251 | Form |
| 10 | Mokari, Atabak | Chief Financial Officer | Direct | Sell | 6032026 | 70.00 | 40,000 | 2,800,004 | 1,067,992 | Form |
| 11 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 6022026 | 69.74 | 12,837 | 895,252 | 178,917,203 | Form |
| 12 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 5292026 | 65.00 | 5,000 | 325,000 | 404,950 | Form |
| 13 | Maduck, Sean | See Remarks | Direct | Sell | 5292026 | 65.59 | 75,000 | 4,918,944 | 588,765 | Form |
| 14 | Guyer, William | Chief Development Officer | Direct | Sell | 5072026 | 51.83 | 20,000 | 1,036,600 | 115,633 | Form |
| 15 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 5052026 | 50.10 | 40,000 | 2,003,860 | 144,194,058 | Form |
| 16 | Guyer, William | Chief Development Officer | Direct | Sell | 4082026 | 40.97 | 20,000 | 819,400 | 91,404 | Form |
| 17 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 3272026 | 50.07 | 26,198 | 1,311,826 | 146,130,797 | Form |
| 18 | Guyer, William | Chief Development Officer | Direct | Sell | 3242026 | 36.01 | 11,767 | 423,730 | 80,338 | Form |
| 19 | Baker, G Leonard JR | Direct | Buy | 3192026 | 33.14 | 100,000 | 3,313,809 | 37,997,158 | Form | |
| 20 | Guyer, William | Chief Development Officer | Direct | Sell | 3062026 | 35.99 | 8,233 | 296,346 | 80,305 | Form |
| 21 | Guyer, William | Chief Development Officer | Direct | Sell | 2052026 | 40.87 | 20,000 | 817,334 | 50,470 | Form |
| 22 | Guyer, William | Chief Development Officer | Direct | Sell | 12032025 | 80.08 | 20,000 | 1,601,526 | 98,894 | Form |
| 23 | Maduck, Sean | See Remarks | Direct | Sell | 12032025 | 79.52 | 20,000 | 1,590,490 | 628,562 | Form |
| 24 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 12032025 | 79.53 | 5,000 | 397,632 | 817,292 | Form |
| 25 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 12032025 | 79.77 | 40,000 | 3,190,796 | 215,488,015 | Form |
| 26 | Guyer, William | Chief Development Officer | Direct | Sell | 11262025 | 80.90 | 4,500 | 364,070 | 63,672 | Form |
| 27 | Guyer, William | Chief Development Officer | Direct | Sell | 11072025 | 75.36 | 20,000 | 1,507,122 | 398,408 | Form |
| 28 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 11052025 | 74.77 | 28,782 | 2,152,105 | 204,979,399 | Form |
| 29 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 11052025 | 73.65 | 5,000 | 368,244 | 756,890 | Form |
| 30 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 11052025 | 74.08 | 11,218 | 831,014 | 205,208,982 | Form |
| 31 | Maduck, Sean | See Remarks | Direct | Sell | 11052025 | 73.99 | 20,000 | 1,479,816 | 584,823 | Form |
| 32 | Swisher, Daniel N JR | Direct | Sell | 10152025 | 87.54 | 2,200 | Form | |||
| 33 | Guyer, William | Chief Development Officer | Direct | Sell | 10092025 | 89.94 | 20,000 | 1,798,782 | 475,508 | Form |
| 34 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 10032025 | 85.08 | 40,000 | 3,403,253 | 236,642,633 | Form |
| 35 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 10032025 | 84.75 | 5,000 | 423,766 | 871,008 | Form |
| 36 | Maduck, Sean | See Remarks | Direct | Sell | 10032025 | 85.06 | 20,000 | 1,701,232 | 672,327 | Form |
| 37 | Swisher, Daniel N JR | Direct | Sell | 9112025 | 72.45 | 2,200 | Form | |||
| 38 | Guyer, William | Chief Development Officer | Direct | Sell | 9042025 | 70.49 | 20,000 | 1,409,848 | 386,792 | Form |
| 39 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 9042025 | 70.25 | 5,000 | 351,247 | 707,131 | Form |
| 40 | Maduck, Sean | See Remarks | Direct | Sell | 9042025 | 70.49 | 20,000 | 1,409,828 | 541,444 | Form |
| 41 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 9042025 | 70.53 | 40,000 | 2,821,033 | 198,979,479 | Form |
| 42 | Robb, Gary Charles | Chief Business Officer | Direct | Sell | 8262025 | 71.27 | 2,326 | 165,774 | 1,143,028 | Form |
| 43 | Swisher, Daniel N JR | Direct | Sell | 8122025 | 72.30 | 2,200 | Form | |||
| 44 | Guyer, William | Chief Development Officer | Direct | Sell | 8122025 | 71.77 | 35,007 | 2,512,452 | 393,802 | Form |
| 45 | Guyer, William | Chief Development Officer | Direct | Sell | 8072025 | 71.77 | 14 | 1,005 | 393,802 | Form |
| 46 | Maduck, Sean | See Remarks | Direct | Sell | 8052025 | 67.79 | 35,007 | 2,373,237 | 520,720 | Form |
| 47 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 8052025 | 68.53 | 40,000 | 2,741,207 | 196,090,214 | Form |
| 48 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 8052025 | 67.51 | 5,823 | 393,128 | 679,585 | Form |
| 49 | Maduck, Sean | See Remarks | Direct | Sell | 7212025 | 73.44 | 473 | 34,737 | 1,300,262 | Form |
| 50 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 7212025 | 73.40 | 200 | 14,680 | 738,844 | Form |
| 51 | Guyer, William | Chief Development Officer | Direct | Sell | 7212025 | 73.44 | 500 | 36,721 | 402,976 | Form |
| 52 | Maduck, Sean | See Remarks | Direct | Sell | 7212025 | 73.48 | 4,315 | 317,054 | 1,300,912 | Form |
| 53 | Belanoff, Joseph K | Chief Executive Officer | Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 | Sell | 7212025 | 73.69 | 615 | 45,318 | 213,794,122 | Form |
| 54 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 7212025 | 73.48 | 3,877 | 284,864 | 739,602 | Form |
| 55 | Guyer, William | Chief Development Officer | Direct | Sell | 7212025 | 73.48 | 4,379 | 321,774 | 403,191 | Form |
| 56 | Swisher, Daniel N JR | Direct | Sell | 7142025 | 71.08 | 2,200 | Form | |||
| 57 | Guyer, William | Chief Development Officer | Direct | Sell | 7032025 | 73.50 | 100 | 7,350 | 403,322 | Form |
| 58 | Lyon, Joseph Douglas | See Remarks | Direct | Sell | 7032025 | 73.50 | 100 | 7,350 | 739,901 | Form |
| 59 | Maduck, Sean | See Remarks | Direct | Sell | 7032025 | 73.45 | 205 | 15,058 | 1,300,473 | Form |
Investor Activity (13F)
Updated Jul 31, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Pharmaceuticals Resources |
| Fierce Pharma |
| Pharm Exec |
| Endpoints News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 7/30/2026