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Corcept Therapeutics Incorporated (CORT)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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21.00+0.89 (+4.43%)
At close: 04:00PM EDT
20.90 -0.10 (-0.48%)
After hours: 07:46PM EDT
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  • C
    Cured
    $SLS conversation
    Gps Keytruda comparable trial (12.2 months of OS /13.9 excluding PROC patients)
    Read $CORT CEO comments re FDA. Gps previous, 100% Os at 9+months, wcase will exceed 15. Strong Buy
    Excluding women with primary platinum-refractory disease and patients who had received four or more prior lines of treatment, women in the intermittent arm experienced significantly improved PFS (median PFS: 5.6 months versus 3.8 months, hazard ratio: 0.58; p-value: 0.016) and OS relative to women in the comparator arm (median OS: 13.9 months versus 12.2 months, hazard ratio: 0.52; p-value: 0.010).
    “We are excited to receive these survival data, which have continued to improve as the trial has progressed. If our phase 3 trial replicates the results in [PFS], [DOR], and [OS] that we’ve seen in phase 2, it will be an unprecedented success for patients with ovarian cancer. No approved therapy has been shown to significantly extend survival compared [with] standard chemotherapy in women with platinum-resistant ovarian cancer. We plan to meet with the FDA as soon as possible to define the best path forward and to open our phase 3 trial in the second quarter of 2022,” Bill Guyer, PharmD, chief development officer at Corcept, concluded.
    https://www.biospace.com/article/releases/relacorilant-plus-nab-paclitaxel-extends-survival-in-women-with-recurrent-platinum-resistant-ovarian-cancer/
    Relacorilant Plus Nab-Paclitaxel Extends Survival in Women with Recurrent, Platinum-resistant Ovarian Cancer - read this article along with other careers information, tips and advice on BioSpace
    Relacorilant Plus Nab-Paclitaxel Extends Survival in Women with Recurrent, Platinum-resistant Ovarian Cancer - read this article along with other careers information, tips and advice on BioSpace
    www.biospace.com
  • P
    Philip
    The ovarian cancer OS results were good. The medians understate the true observed benefit due to noise in the data right about that point. Not surprising for phase II trial and modest sample size. It would be nice to be able to help these women more, but it is a step in the right direction.

    Maybe the price drop is because traders were fantasizing that the results would have allowed for early approval? By announcing a single topic presentation almost a month in advance, the company had me hoping they had something really big to announce. CORT seems to be the champion of positive but "nuanced" results. In this case, improvement in all patients, but statistical significance in just a subset. Its portfolio keeps looking better and better, but progress seems to take a long long time. Still the best long term bet I am aware of though.

    Patience isn't easy. Good luck all.
  • C
    CS1001
    $SLS conversation
    Gps Keytruda comparable trial (12.2 months of OS /13.9 excluding PROC patients)
    Read $CORT CEO comments re FDA. Gps previous, 100% Os at 9+months, wcase will exceed 15. Strong Buy
    Excluding women with primary platinum-refractory disease and patients who had received four or more prior lines of treatment, women in the intermittent arm experienced significantly improved PFS (median PFS: 5.6 months versus 3.8 months, hazard ratio: 0.58; p-value: 0.016) and OS relative to women in the comparator arm (median OS: 13.9 months versus 12.2 months, hazard ratio: 0.52; p-value: 0.010).
    “We are excited to receive these survival data, which have continued to improve as the trial has progressed. If our phase 3 trial replicates the results in [PFS], [DOR], and [OS] that we’ve seen in phase 2, it will be an unprecedented success for patients with ovarian cancer. No approved therapy has been shown to significantly extend survival compared [with] standard chemotherapy in women with platinum-resistant ovarian cancer. We plan to meet with the FDA as soon as possible to define the best path forward and to open our phase 3 trial in the second quarter of 2022,” Bill Guyer, PharmD, chief development officer at Corcept, concluded.
    https://www.biospace.com/article/releases/relacorilant-plus-nab-paclitaxel-extends-survival-in-women-with-recurrent-platinum-resistant-ovarian-cancer/

    https://www.biospace.com/article/releases/relacorilant-plus-nab-paclitaxel-extends-survival-in-women-with-recurrent-platinum-resistant-ovarian-cancer/
    Relacorilant Plus Nab-Paclitaxel Extends Survival in Women with Recurrent, Platinum-resistant Ovarian Cancer - read this article along with other careers information, tips and advice on BioSpace
    Relacorilant Plus Nab-Paclitaxel Extends Survival in Women with Recurrent, Platinum-resistant Ovarian Cancer - read this article along with other careers information, tips and advice on BioSpace
    www.biospace.com
    Bullish
  • D
    Druvaciam
    What is going on -7% on good news?
    Bullish
  • A
    Anonymous
    Follow Alan Leong at Biowatch for excellent CORT coverage
  • s
    sWINger
    $SLS Phase 2 T Cell Gen Combination Data with $MRK Keytruda - Previous results had 100% patient survival at 9+ months in Platinum Refractory End stage Ovarian cancer. Enrollment was completed and data locked for Joint analysis in May/June Timeframe. Anyone (serious question) have an opinion on this. Would appreciate it.

    https://www.globenewswire.com/news-release/2021/06/30/2255695/0/en/SELLAS-Reports-Promising-Updated-Clinical-Data-and-Initial-Immune-Response-Profiles-from-Ongoing-Phase-1-2-Study-of-Galinpepimut-S-GPS-Combined-with-Keytruda-for-Treating-WT1-Advan.html
    $SWTX Ph 3
    $ADAG Ph 2
    $CCCC
    $PRLD
    $KPTI
    $ICPT Ph 3
    $IMMP Ph 2
    $VERU Ph 2
    $DMAC Ph 2
    $KLDO Ph 2
    $MREO Ph 2
    $SLS Ph 2
    $CORT Ph 2
    $CRBP Ph 2
    $PRAX Ph 2
    $AMRN Ph 2
    $ZEAL Ph 3
    $CBAY Ph 2
    $ARVN Ph 2
    $TNXP Ph 3
    $FGEN Ph 2

    $SWTX Ph 3
    $ADAG Ph 2
    $CCCC
    $PRLD
    $KPTI
    $ICPT Ph 3
    $IMMP Ph 2
    $VERU Ph 2
    $DMAC Ph 2
    $KLDO Ph 2
    $MREO Ph 2
    $SLS Ph 2
    $CORT Ph 2
    $CRBP Ph 2
    $PRAX Ph 2
    $AMRN Ph 2
    $ZEAL Ph 3
    $CBAY Ph 2
    $ARVN Ph 2
    $TNXP Ph 3
    $FGEN Ph 2
    Bullish
  • b
    billy
    typical of this stock .. finally gives good news and the stock dumps $2 for the worst day in 6 months .. should be UP $2 .
  • m
    matthew
    Folks - there are two companies that filed patent charges against CORT. The one settled yesterday was almost irrelevant. keyword - almost. It obviously would not have been a good thing if they lost.

    The larger one is with TEVA and will probably come down the pike by the end of the year. And even then, it will certainly be subject to further reviews and appeals by the losing party.

    The long game here is in the critical advancement of the Relacorilant trials. As long as Corcept keeps piling up the cash and continues to provide exceptional results in the advancing trials, that is where all the focus should be on for anyone investing here.

    I implore anyone not understanding the difference to do a little more homework. This is probably going to be a stock that continues to move sideways until the goalposts become clearer near the end of the year. In the interim, those who believe in the long term prospects and the Management team's hyper conservative style should continue to add to their positions. I certainly have been and will continue to do so if it reverts back to the $12 range again.

    ALL IMO!!!!!!!!!
  • B
    BBF
    Ingalls & Snyder LLC Increased Stake in Corcept Therapeutics INC (CORT) by $15.14 Million
  • W
    Wyane
    Today, CORT only has one approved drug Korlym for Cushing Syndrome with an annual sales about $350M.

    CORT’s success with Korlym is almost like a miracle. First of all, Korlym’s is the trade name for mifepristone, which is also an FDA-approved drug for terminating early pregnancy known as RU-486. RU-486 was approved in 2000, and its patents are all but expired. Korlym was approved by FDA in 2012, and CORT has seen its revenue doubling every year from 2013 to 2017 (from $10M to $160M). Then its trouble started. Generic drug maker Teva Pharmaceuticals had been eyeing CORT’s success with Korlym, and filed NDA to FDA for a generic version Korlym in February, 2018. CORT immediately fought back in Patent Court defending its 6 patents on Korlum. In June 2019 another generic drug maker Sun Pharmaceuticals join Teva on the challenge. CORT’s SP reverse course in 2018 dropping from mid 20s to teens and stayed there for the next two and half years. In the meantime, class-action vultures and professional shorties all had their field days – with constant lawsuits and at its peak, up to 20% of its outstanding shares were chronically shorted. CORT saw its fortune reverse course again last year: first in September the Patent Court proceedings started, then in November CORT declared victory in the legal battle. CORT’s SP jumped in both occasions to settle around upper 20s today.

    Secondly, Korlym is a very difficult drug to administer since it is an antagonist (blocker) for 3 distinctive receptors (PR, GR and AR): PR blocker is responsible for abortion; GR blocker beneficially improves the glucose tolerance in Cushing Syndrome patients with type 2 diabetes; and to a much lesser extent AR blocks testosterone. In fact, CORT’s victory against Teva was mostly brought about by the ‘214 patent, which claims the labeling and administering of the drug. Because Korlym interacts with multiple receptors, treating Cushing Syndrome involves carefully administering the drug as well as closely monitoring the patient for a long list of unpleasant side effects – some of them may lead to serious consequences. Due to PR blocking, a significant portion of female population of Cushing Syndrome could not be served by Korlym, and the use of mifepristone is tightly controlled in many States due to abortion regulations. Additionally, many patients taking Korlym have to be stopped due hypokalaemia (low potassium level in the blood).

    With a MC of $3.2B and sale of $350M, CORT’s SP is fairly priced – maybe with a little upward momentum to push it up to low $30s.

    In summary, it is estimated that less than half of the Cushing Syndrome patients are currently served by Korlym. So, what’s up next for CORT – Relacorilant is about to take the center stage!

    The story about Relacorilant is rather simple and straightforward – it is a targeted GR antagonist with much less side effect than Korlym for Cushing Syndrome. This alone should double its Cushing Syndrome patient base from Korlym. Additionally, it is currently being tested for patients suffer from Adrenal Adenomas – a benign tumor in the adrenal gland. The GRACE P3 trial for Cushing Syndrome is to be completed by December this year, and the GRADIENT P3 trial for Adrenal Adenomas is to be completed by June this year. When Relacorilant is approved first for Adrenal Adenomas later this year and for Cushing Syndrome early next year, it will replace Korlym with 2x to 3x revenue potential from Korlym.

    Next catalysts for CORT includes 1) Completion of Relacorilant P3 trials, 2) NDA’s for Relacorilant, and 3) Approvals for Relacorilant. These catalysts will further push its SP to $50 to $60 range by Q1/2022.

    The story of CORT does not end with Relacorilant though. There are various P2 and P3 trials for some notoriously hard-to-treat cancers such as pancreatic, ovarian and breast cancers. Development of cancer drug is extremely risky, however, if any of these pans out, CORT will hold the ticket to join the $100-stock club, or be swallowed by giant pharma long before that.
    Bullish
  • m
    matthew
    There is clearly a very dedicated group of investors with deep pockets who have shorted this at extraordinary levels. Given that the company is cash flow positive and can fund their own trials through next gen, it makes no sense to me to be aggressively short. The revenue flow at risk should be obsolete in a couple of years. Usually these kind of strong arm tactics are reserved for companies desperate for funding. We (CORT) are nowhere near that boat.

    If you are in this for a short term gain, you're probably in the wrong stock. It's been my experience that the shorts are usually able to squeeze a story or two out of the headlines to give themselves the opportunity to exit. So it wouldn't surprise me at all if we continued to experience downward pressure.

    But again, there are VERY..... VERY large votes of confidence coming from the Management team. Options not being cashed, but further invested. Insiders buying at the current PPS and higher.

    I'm very long this stock and believe in the management team. I continue adding on occasion because I truly believe this price is a gift. There is large risk here. Undoubtedly. But also the prospect of a mammoth upside reward.

    The shorts have taken this from $25 down to $11 and they still want more. Perhaps they will get it. Perhaps they will get slaughtered. The biggest risk for us longs is it may take anywhere from 6 months to 2 years before we get any significant news. That's a lot of runway for "bad news" to pry shares from weaker hands. Stop losses and margin calls......

    But good news may come tomorrow. Who knows?

    At these prices, I'm not willing to risk being on the sidelines. I'm essentially all in and adding more. It sucks to see the paper losses grow, but it feels good to get the opportunity to add to my position at this ridiculous haircut of a price.
  • a
    ashley
    On June 11, 2019, Corcept Therapeutics Incorporated (the “Company”) announced that it has received a Paragraph IV Notice Letter advising that Sun
    Pharmaceutical Industries Limited (“Sun”) submitted an Abbreviated New Drug Application (“ANDA”) to the U.S. Food and Drug Administration
    (“FDA”) seeking authorization from the FDA to manufacture, use or sell a generic version of KORLYM® Mifepristone Tablets, 300 mg (“Korlym”) in
    the United States
  • g
    goodasgold1980
    Stock is a big winner!
  • V
    V.
    Corcept Therapeutics Announces Fourth Quarter and Full-Year 2021 Audited Financial Results and Provides Corporate Update

    https://ir.corcept.com/news-releases/news-release-details/corcept-therapeutics-announces-fourth-quarter-and-full-year-2021
  • R
    RandyM
    Some additional info found today:

    Corcept Therapeutics' Q4, 2019, 2020 Full Year Earnings Estimates Increased
    November 23, 2019
    06:56 AM ETPublished November 23, 2019 06:56 AM Eastern Time
    MT Newswires

    06:56 AM EST, 11/23/2019 (MT Newswires) -- Corcept Therapeutics Inc's (NASDAQ:CORT, Recent Price: 13.04) earnings targets for Q4 ending December 31, 2019, and the forecasts for 2019 and 2020 have been scaled up. The Q4 earnings estimate has been raised to $0.26 per share, up from the previous consensus estimate of $0.21 per share, as have the full year estimates for 2019 and 2020. The 2019 estimate has been raised to $0.80 per share from the previous consensus forecast of $0.75 per share and the full year 2020 estimate has been increased from $0.97 per share to $0.98 per share. There are currently 6 estimates used to derive the Q4 forecast and 6 published estimates incorporated in the full year forecasts for both 2019 and 2020.
    Bullish
  • m
    matthew
    Really nice to see the upwards momentum. Let’s hope it continues. The shorts have extremely little margin for error here. It would be great to be at the right end of a short squeeze
  • R
    Richie
    Corcept patent 10,195,214 was upheld by the U.S. Patent Trial and Appeal Board, ruling on a challenge lodged by Teva.

    Teva “has not demonstrated” that the patent claims were invalid, the review board said in an opinion posted on its electronic docket
    Teva had claimed the method of treatment in the patent was already covered by the initial label on the drug, years before the patent was sought
    Korlym is used to treat Cushing’s disease; patent expires in 2037
    Active ingredient is the same as RU486, the so-called “morning after pill” to induce abortions early in a pregnancy, that’s been...
  • R
    Richie
    "verdict" in the court battle between Teva and CORT coming end of next week. We're very likely gonna see a big move up.... or a big move down. Check out both puts and calls expiring next Friday. incredibly expensive. people are placing their bets.
    Neutral
  • m
    matthew
    Very excited to hear more about the updated trial results tomorrow night. What the shorts don't seem to realize very well is the current revenue stream is only a means to fund a much larger end game.

    This looks like really promising results.
  • s
    steve
    CORT is an amazing company with low market cap, low shares, zero debt, over $200m cash, good and growing revenue, positive growing income, increasing cash, good pipeline and progressing, share buyback, good and steady management.
    Short sellers and TEVA generic propaganda have pushed the price down to current levels but the company released facts about short sellers false information and also got a new patent plus old patents that will shut up TEVA. A new lawsuit is filed against TEVA and obviously TEVA and yellow journalism are bed with short sellers.
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