Corcept Therapeutics announced robust financial results for the third quarter ended September 30, 2024, with net product revenue reaching $182.5 million, a substantial increase from $123.6 million in the same period of 2023. Net income for the quarter was $47.2 million, up from $31.4 million year-over-year, translating to diluted net income per common share of $0.41 compared to $0.28.
The company also raised its full-year 2024 revenue guidance to a range of $675 million to $700 million, reflecting confidence in its commercial performance. This financial strength is supported by a growing number of Korlym prescribers and patients, driven by increased awareness of hypercortisolism's prevalence.
In a significant clinical update, Corcept reported positive results from the Phase 3 GRADIENT study of relacorilant in patients with Cushing's syndrome. The trial demonstrated clinically meaningful and statistically significant improvements in hypertension, hyperglycemia, weight, and body composition, without serious adverse effects like hypokalemia or QT prolongation, positioning relacorilant as a promising new treatment.
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