Corcept Therapeutics CEO Joseph Belanoff sells $178,097 in stock

Joseph K. Belanoff, the Chief Executive Officer of Corcept Therapeutics Inc. (NASDAQ:CORT), has recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transaction, which took place on March 3, 2025, involved the sale of 2,924 shares at a weighted average price of $60.909, resulting in a total value of $178,097. The sale comes amid a period of significant stock movement, with InvestingPro data showing an 11.65% decline over the past week, though the stock maintains a remarkable 141.54% gain over the last year.

Following this transaction, Belanoff holds 3,019,411 shares indirectly through the Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust. This sale was executed under a Rule 10b5-1 trading plan, which was adopted on November 26, 2024.

In addition to the stock sale, the filing also disclosed that Belanoff acquired 350,000 stock options on February 28, 2025, with an exercise price of $60.58 per share. These options are set to vest in equal installments over a four-year period, contingent upon Belanoff’s continued service with the company.

Corcept Therapeutics, based in Redwood (NYSE:RWT) City, California, specializes in pharmaceutical preparations. With a market capitalization of $6.23 billion and revenue growth of 39.94% in the last twelve months, the company remains under the leadership of Belanoff, who continues to serve as both CEO and a member of the board of directors. For deeper insights into Corcept’s valuation and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers exclusive financial metrics and expert research reports.

In other recent news, Corcept Therapeutics reported a notable earnings miss for the fourth quarter of 2024, with earnings per share (EPS) at $0.26, falling short of the forecasted $0.38. Revenue for the quarter also underperformed expectations, coming in at $181.89 million compared to the anticipated $198.05 million. Despite these setbacks, the company achieved a 40% year-over-year increase in annual revenue, reaching $675 million, and net income rose by 33% to $141 million. Corcept maintains a strong cash position, with $603 million in cash and investments as of the end of 2024.

Additionally, Corcept Therapeutics has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for relacorilant, a treatment for Cushing’s syndrome, with a Prescription Drug User Fee Act (PDUFA) target action date set for December 30, 2025. The NDA is backed by positive results from several clinical trials, including the pivotal GRACE trial. The company is also advancing its research efforts in oncology, ALS, and MASH, with a focus on expanding the market for hypercortisolism treatments.

In another development, Corcept is addressing operational challenges with a pharmacy partner that impacted fourth-quarter revenue. Looking ahead, the company has set a revenue guidance of $900 to $950 million for 2025, indicating confidence in continued growth. Analysts from firms like Piper Sandler and H.C. Wainwright have shown interest in the company’s ongoing trials and market expansion strategies. Corcept’s CEO, Joe Belanoff, expressed optimism about the company’s future, emphasizing the growing recognition of hypercortisolism’s prevalence and the effectiveness of their treatments.

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