MENLO PARK, Calif. (AP) _ Corcept Therapeutics Inc. (CORT) on Thursday reported second-quarter profit of $20.2 million.
The Menlo Park, California-based company said it had profit of 17 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 25 cents per share.
The drug developer posted revenue of $72.3 million in the period.
Corcept expects full-year revenue in the range of $285 million to $315 million.
Corcept shares have dropped 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.96, a decline of 17% in the last 12 months.