Corcept Projects $900M Revenue for 2025 Amid Q1 Miss

Corcept Therapeutics reported first quarter earnings that exceeded analyst expectations, but revenues missed estimates, rising 7.1% year-over-year to $157.2 million due to supply chain issues that have since improved. Despite the revenue miss, the company maintained its full-year 2025 revenue guidance of $900-950 million, which is slightly above analyst consensus. Operating margin declined compared to the previous year, and the company spent $43.3 million on share repurchases, reducing its cash holdings. Corcept is advancing its clinical pipeline, with a New Drug Application for relacorilant in hypercortisolism expected by year-end, and another for platinum-resistant ovarian cancer planned for the next quarter. Analysts project a significant 40.6% revenue growth over the next 12 months, suggesting strong optimism for future performance, especially as pharmacy operations recovered in March and April. The company's long-term sales growth and increasing physician awareness of hypercortisolism continue to bolster its outlook.