Corcept Therapeutics reports Q1 EPS 14c, consensus 19c

Reports Q1 revenue $ $105.65M , consensus $104.87M. Cash and investments were $465.1M at March 31 compared to $436.6M at December 31. In April, Corcept purchased 6.6M shares of its common stock for $145.4M. "Korlym is an excellent treatment for patients with Cushing’s syndrome and there are many eligible patients who have yet to receive it. We are making substantial investments to improve the ability of physicians to identify and treat patients with hypercortisolism, most notably our recently established CATALYST study, and are optimistic about the growth of our Cushing’s syndrome business. We are raising our 2023 revenue guidance to $435M – $455M ," said Joseph K. Belanoff, MD, Corcept’s Chief Executive Officer.Clinical Development