MENLO PARK, Calif. (AP) _ Corcept Therapeutics Inc. (CORT) on Monday reported first-quarter net income of $30.1 million.
On a per-share basis, the Menlo Park, California-based company said it had profit of 25 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The drug developer posted revenue of $93.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $86.9 million.
Corcept expects full-year revenue in the range of $355 million to $375 million.
Corcept shares have risen roughly 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $12.69, an increase of slightly more than 3% in the last 12 months.