Corcept Q3 revenue $182.5M (+48% YoY); guides FY2024 to $675-700M; positive GRADIENT results

CORCEPT THERAPEUTICS INC

2024-Q3 EPS reported $0.98 revenue$493,150,000

Q3 revenue $182.5M (+48% YoY); diluted EPS $0.41 vs $0.28; net income $47.2M.
FY2024 revenue guidance raised to $675-700M from $640-670M; strong Korlym prescriber and patient growth.
Cash and investments $547.6M; repurchased 870K shares for $23.4M in Q3.
Phase 3 GRADIENT in Cushing's syndrome: significant improvements in BP, glucose, weight vs placebo; no hypokalemia or endometrial hypertrophy.
NDA for relacorilant in Cushing's to be submitted this quarter; ROSELLA (ovarian cancer) and DAZALS (ALS) data expected by year-end.

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