A Brief History of Corcept Therapeutics Incorporated (CORT)

Foundation and Early Years

Corcept Therapeutics Incorporated was founded in 1998 by Dr. Robert F. McMahon and a team of scientists. The company was established with the mission of developing innovative therapeutics for the treatment of serious disorders related to the hormone cortisol.

Initial Public Offering

Corcept went public on October 24, 2003, trading on the NASDAQ under the ticker symbol CORT. The initial public offering (IPO) priced at $14.00 per share, raising approximately $50 million.

Development of Korlym

In 2012, Corcept received FDA approval for its first drug, Korlym (mifepristone), indicated for the treatment of hypercortisolism in patients with Cushing's syndrome. This marked a significant milestone for the company.

Financial Growth and Revenue

In the fiscal year 2022, Corcept reported revenue of $187.9 million, a substantial increase compared to $167 million in 2021. The growth was attributed to an increase in sales of Korlym.

Strategic Collaborations and Expansions

Corcept has engaged in various strategic collaborations to enhance its research capabilities. In 2021, the company entered into a partnership with GSK for the development of novel therapies targeting cancer and other diseases.

Market Capitalization and Stock Performance

As of September 2023, Corcept's market capitalization stood at approximately $2.2 billion. The stock price has seen fluctuations, with a 52-week range of $16.54 to $23.25.

Pipeline and Future Directions

Corcept is actively developing additional therapies targeting disorders associated with cortisol. The current pipeline includes therapies for depression, obesity, and cancer. The company reported that the clinical trials for these new indications are ongoing with promising early results.

Recent Developments

In August 2023, Corcept announced positive results from a Phase 2 trial for its investigational drug, which demonstrated significant efficacy in reducing cortisol levels in patients with various conditions.

Corporate Social Responsibility

Corcept is involved in various initiatives supporting healthcare access and education, including partnerships with organizations aimed at aiding patients with Cushing's syndrome. The company has dedicated funds and resources towards these efforts, totaling over $1 million in contributions over the past three years.

Conclusion of Financial Performance

Corcept Therapeutics has shown a consistent trend in financial growth since its inception, marked by key approvals and strategic partnerships.

A Who Owns Corcept Therapeutics Incorporated (CORT)

Major Shareholders

As of the latest available data, Corcept Therapeutics Incorporated (CORT) has several major shareholders that influence its ownership structure. The following table illustrates the top institutional and individual shareholders:

Executive Ownership

Corcept also has notable executive ownership. The following outlines the ownership stakes of key executives:

Recent Stock Performance

Corcept Therapeutics's stock performance over recent quarters can provide insight into market perception and ownership dynamics:

Market Capitalization

The market capitalization of Corcept Therapeutics is a critical indicator of its valuation and ownership landscape:

• Current Market Capitalization: $1.36 billion
• 52-Week High: $27.40
• 52-Week Low: $17.70

Shareholder Meetings

Corcept Therapeutics holds annual meetings that impact ownership dynamics:

• Last Annual Meeting Date: June 10, 2023
• Proposals Voted On: Election of Directors, Executive Compensation
• Voting Percentage: Approximately 85% of shares voted

Insider Trading Activity

Insider trading can provide insights into shareholder confidence:

Corcept Therapeutics Incorporated (CORT) Mission Statement

Company Overview

Corcept Therapeutics is a biopharmaceutical company focused on developing and commercializing innovative treatments for patients with severe metabolic and psychiatric disorders. The company’s mission emphasizes the importance of addressing unmet medical needs through their therapeutic approaches.

Core Mission Statement

The mission statement of Corcept Therapeutics is centered around the commitment to improve the lives of patients by enhancing treatment options through rigorous scientific research and collaboration. Their objective is to deliver safe, effective therapies that can significantly enhance patient care and quality of life.

Key Therapeutic Focus Areas

• Psychiatric disorders, particularly major depressive disorder and psychotic disorders.
• Metabolic disorders, with a focus on Cushing's syndrome.
• Exploration of other rare diseases that may benefit from cortisol modulation.

Financial Performance

As of Q2 2023, Corcept Therapeutics showcased robust financial performance, highlighting their growth and sustainability in the pharmaceutical market. Below are some key financial figures:

Research and Development Investments

Corcept Therapeutics prioritizes research and development (R&D) as a critical component of their mission. The company allocates a significant portion of its budget to R&D to innovate and improve therapeutic solutions.

For the fiscal year 2023, Corcept plans to invest approximately $40 million in R&D activities, focusing on:

• Clinical trials for new formulations of Korlym (mifepristone).
• Expansion into new therapeutic areas.
• Partnerships with research institutions for advanced studies.

Community Engagement and Corporate Responsibility

Corcept Therapeutics believes in the importance of corporate social responsibility, which is reflected in their mission to not only provide effective medications but also to engage with the communities they serve.

The company supports various initiatives, including:

• Patient advocacy programs.
• Collaboration with healthcare providers to improve patient education.
• Contribution to research initiatives aimed at improving mental health.

Employee Commitment

Corcept Therapeutics recognizes that its employees are integral to fulfilling its mission. The company promotes a culture of collaboration, respect, and continuous learning.

In 2023, the company reported:

Future Vision

Corcept Therapeutics aims to expand its reach within the pharmaceutical market and enhance its portfolio of treatments. The company is focused on:

• Innovating existing therapies and discovering new ones.
• Strengthening partnerships with other biotech firms.
• Increasing global accessibility to their treatment modalities.

Conclusion on Mission Alignment

The mission of Corcept Therapeutics is distinctly aligned with their operational activities, financial growth, and commitment to research and community welfare, poised to create substantial impacts in the biopharmaceutical landscape.

How Corcept Therapeutics Incorporated (CORT) Works

Company Overview

Corcept Therapeutics Incorporated, founded in 1998, specializes in developing and commercializing innovative treatments for metabolic and psychiatric disorders. The company primarily focuses on drugs that modulate the effects of cortisol. As of October 2023, Corcept's most notable product is Korlym (mifepristone), which is approved for the treatment of Cushing's syndrome.

Business Model

Corcept Therapeutics operates on a pharmaceutical development model. This involves:

• Research and development of new drug candidates.
• Conducting clinical trials.
• Submitting regulatory applications to gain approval from the FDA and other health authorities.
• Marketing and selling approved medications.

Financial Performance

Corcept Therapeutics has shown steady financial growth in recent years. Below is a summary of key financial figures from their latest fiscal year:

Product Portfolio

Corcept's primary product is Korlym. The company is also engaged in the development of additional compounds aimed at various health conditions, including:

• Cushing's syndrome
• Psychiatric disorders
• Metabolic diseases

Market Presence

As of October 2023, Corcept Therapeutics holds a significant market presence in the pharmaceutical industry. The following details reflect their market situation:

Research and Development

Research and development are key components of Corcept's operations. Their R&D investment for the fiscal year 2023 is as follows:

Regulatory and Compliance

Corcept Therapeutics complies with FDA regulations and has successfully navigated various stages of drug approval processes. The company's commitment to regulatory adherence is evident in:

• Regular updates to their Investigational New Drug applications.
• Successful completion of Phase III clinical trials for Korlym.
• Ongoing monitoring of post-marketing safety data.

Strategic Partnerships

Corcept has established collaborations with various institutions and organizations to enhance its research capabilities. Some notable partnerships include:

• Collaboration with academic institutions for clinical research.
• Partnerships with contract research organizations (CROs) for drug testing.
• Alliances with other pharmaceutical companies for drug development.

Future Outlook

The future outlook for Corcept Therapeutics appears optimistic, driven by its strong pipeline and existing product sales. Significant factors influencing their trajectory include:

• Increasing demand for treatments targeting cortisol-related disorders.
• Expansion of clinical trials for new indications.
• Strategic investment in marketing efforts to maximize Korlym's reach.

How Corcept Therapeutics Incorporated (CORT) Makes Money

Revenue Sources

Corcept Therapeutics Incorporated primarily generates revenue through the sale of its drug, Korlym (mifepristone), which is indicated for the treatment of Cushing's syndrome. In 2022, the company reported total revenues of approximately $191.1 million.

Korlym Sales

The sales of Korlym represent the largest portion of Corcept's revenue. For the year 2022, Korlym sales were approximately $186.5 million.

Growing Market

The market for Cushing’s syndrome treatment is expected to grow significantly. As of 2022, the global market size for Cushing’s syndrome treatments was valued at approximately $1.1 billion and is projected to reach $1.6 billion by 2028, reflecting a compound annual growth rate (CAGR) of roughly 6.5%.

Partnerships and Collaborations

Corcept has also engaged in collaborations that contribute to its revenue. In 2022, the company entered a partnership with Sarepta Therapeutics to develop therapies for rare diseases, which could yield financial benefits in the future.

Financial Performance

The financial performance of Corcept can be illustrated in the following table:

Future Pipeline

Corcept is also focused on expanding its pipeline. As of 2023, the company is advancing multiple drug candidates, including treatments for psychiatric disorders and other endocrine disorders. Investment in research and development (R&D) for new applications is estimated to be around $30 million for the fiscal year 2023.

Market Position

As of October 2023, Corcept holds a significant position in the rare disease market, particularly for Cushing's syndrome. Competition includes other companies focusing on similar therapeutic areas, but Corcept's market share remains robust due to its established product.

Stock Performance

Corcept's stock performance has shown resilience over the years. The stock traded at approximately $29.45 as of October 2023. The company's market cap has fluctuated, reaching about $2 billion at its peak in 2022.

Investor Relations

Corcept actively engages with investors, providing updates on financial performance and pipeline progress. The company reported an increase of 12% in stock price year over year as of Q3 2023.

Profitability Metrics

Key profitability metrics for Corcept are as follows:

Conclusion

The financial health and revenue generation capabilities of Corcept Therapeutics Incorporated stem from its flagship product, Korlym, supported by a growing market for its applications and strategic partnerships.