U.S. Markets close in 3 hrs 18 mins

Corcept (CORT) Strives to Commercialize Key Drug Korlym

Zacks Equity Research

We issued an updated report on Corcept Therapeutics Inc. CORT on Mar 28.

Corcept’s share price shows that the company has outperformed the Zacks classified Medical Drugs industry year to date. The stock gained 54%, as compared to the industry’s gain of 5.3%.

Korlym is Corcept’s lead drug and the company has been striving to commercialize Korlym successfully by deploying medical liaisons and sales representatives. The company has increased the size of its sales force significantly and is targeting Cushing’s disease patients who would benefit from the drug but are yet to be on the medication.

Corcept is currently working on developing the drug for additional indications. It is conducting a phase I/II safety and efficacy study on Korlym, in combination with Halaven, for the treatment of TNBC. The preliminary efficacy data from the study were encouraging.

Enrollment in the trial is complete and the company announced encouraging data in Dec 2016. We expect a successful label expansion of Korlym to boost the top line significantly, as the disease represents huge potential with as many as 40,000 women in the U.S. being diagnosed every year.

Corcept initiated a discovery research program to identify selective GR-II antagonists, with the intent of developing a pipeline of products for proprietary use, and discovered three distinct series of GR-II antagonists. The company is evaluating CORT125134 for the treatment of Cushing's syndrome as well as a range of solid tumors.

The company has begun dosing patients in a phase I/II study on CORT125134, in combination with Abraxane, for the treatment of a range of solid-tumor cancers. The company is also enrolling patients in a phase II trial of CORT125134, to treat patients with Cushing syndrome. Apart from CORT125134, another promising candidate in Corcept’s pipeline is CORT118335, which displayed encouraging results in animal models of fatty liver disease and other metabolic disorders. It is slated to enter clinic in 2017. Additionally, CORT122928 has demonstrated activeness in animal models of alcohol withdrawal.

Corcept is solely dependent on Korlym for growth. A decline in Korlym’s sales will dent the company’s growth. Moreover, Korlym faces stiff competition from Novartis AG’s (NVS) drug – Signifor – which has been approved for the treatment of adult patients with Cushing’s disease, who are not candidates for pituitary surgery or for whom surgery failed.

Although Corcept is working on developing additional candidates, these compounds are still years away from commercialization.

Corcept Therapeutics Inc. Price

 

Corcept Therapeutics Incorporated Price | Corcept Therapeutics Incorporated Quote

Zacks Rank & Key Picks

Corcept currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the health care sector include Heska Corp. HSKA, Retrophin, Inc. RTRX and Galena Biopharma, Inc. GALE. Heska, Retrophin and Galena Biopharma sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Heska’s earnings estimates moved up from $1.53 to $1.65 for 2017 and from $1.80 to $2.01 for 2018, over the last 30 days. The company posted a positive earnings surprise in all of the last four quarters, with an average beat of 291.54%. Its share price increased 33.8% year to date.

Retrophin’s loss estimates narrowed from 85 cents to 72 cents for 2017 and from 67 cents to 53 cents for 2018, over the last 30 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 80.55%.  

Galena Biopharma‘s loss estimates narrowed from $2.53 to 58 cents for 2017 and from $1.95 to 73 cents for 2018, over the last 60 days. The company posted a positive earnings surprise in two of the four trailing quarters with an average beat of 53.83%.  

More Stock News: 8 Companies Verge on Apple-Like Run

Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.

A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Galena Biopharma, Inc. (GALE): Free Stock Analysis Report
 
Retrophin, Inc. (RTRX): Free Stock Analysis Report
 
Heska Corporation (HSKA): Free Stock Analysis Report
 
Corcept Therapeutics Incorporated (CORT): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research