Corcept Therapeutics (NASDAQ:CORT) has reported a significant increase in its earnings for the third quarter of 2026, with earnings per share reaching $1.01. This figure not only exceeded the Zacks Consensus Estimate of 68 cents but also represents a substantial year-over-year growth of 531.3% from the 16 cents per share reported in the same period last year.
The company’s revenue for the third quarter also saw a notable rise, climbing 64% year over year to $340.5 million, surpassing the Zacks Consensus Estimate of $329 million. This impressive growth was largely driven by increased sales of Korlym, a treatment for Cushing’s syndrome, and the strong market performance of Lifyorli, a newly launched drug for ovarian cancer.
Corcept’s stock has performed exceptionally well in 2026, with shares appreciating by 135.5%, in stark contrast to the broader industry’s decline of 3.2%1.
Detailed Breakdown of Q3 Earnings
The revenue for Corcept in the third quarter was primarily composed of sales from its Cushing’s syndrome drug, Korlym, and Lifyorli, which is used in the treatment of ovarian cancer. Korlym, including its authorized generic versions, generated $249.1 million, marking a 20% increase from the previous year, although it fell short of the company’s internal estimate of $258 million.
Lifyorli, approved by the FDA in March 2026 for use with nab-paclitaxel in treating platinum-resistant ovarian cancer, contributed $91.4 million in the quarter. This figure represents a sequential increase of 92% and exceeded the company’s model estimate of $70 million. Since its launch on April 1, over 2,300 patients have been treated with Lifyorli, and more than 1,700 physicians have prescribed it, thanks to its efficacy and favorable safety profile.
Operating Expenses and Profitability
Corcept’s operating expenses for the third quarter rose by 14.3% year over year to $225.7 million. This increase reflects higher commercial spending and ongoing investments in clinical development. Specifically, selling, general, and administrative expenses surged by 32.6% to $164.4 million, while research and development expenses decreased by 17.6% to $56.7 million.
At the end of the third quarter, Corcept reported cash and investments totaling $662.3 million, an increase from $544.6 million as of June 30, 20262.
2026 Revenue Guidance and Pipeline Updates
Corcept has maintained its revenue guidance for the full year 2026, projecting revenues between $1.1 billion and $1.2 billion, citing robust business performance. The Zacks Consensus Estimate for the year stands at $1.14 billion.
In terms of pipeline developments, Corcept’s resubmitted new drug application for relacorilant, aimed at treating Cushing’s syndrome, is under FDA review with a target action date set for December 17, 2026. This application is supported by data from the phase III GRACE study and confirmatory evidence from the phase III GRADIENT study3.
Additionally, Corcept has announced positive outcomes from Part A of the phase II BELLA study, which evaluated Lifyorli in combination with nab-paclitaxel and Roche’s Avastin (bevacizumab) for patients with platinum-resistant ovarian cancer. The study showed promising results, including a median progression-free survival of 7.2 months and a six-month overall survival rate of 88%.
Looking ahead, Corcept is also advancing other pipeline candidates, such as dazucorilant and miricorilant, for treating conditions like amyotrophic lateral sclerosis and metabolic dysfunction-associated steatohepatitis, respectively.
Corcept’s performance in the biotech sector is noteworthy, as it currently holds a Zacks Rank #3 (Hold). In comparison, TG Therapeutics (NASDAQ:TGTX) and Tarsus Pharmaceuticals (NASDAQ:TARS) are rated higher with a Zacks Rank #1 (Strong Buy). TG Therapeutics has seen its 2026 earnings per share estimates rise, and its stock has increased by 103.8% year to date4.
Footnotes:
- Corcept Therapeutics’ stock performance has significantly outpaced the industry average in 2026. Source.
- Corcept’s financial position strengthened with increased cash and investments by the end of Q3 2026. Source.
- The relacorilant application is backed by phase III study data, with an FDA decision expected in December 2026. Source.
- TG Therapeutics’ stock has seen significant growth in 2026, with improved earnings estimates. Source.
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