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William Guyer, Chief Development Officer at Corcept Therapeutics Inc. (NASDAQ:CORT), a $6.2 billion market cap company with an impressive 141% return over the past year, reported the sale of 20,000 shares of the company’s common stock, valued at approximately $1.18 million. According to InvestingPro analysis, the company maintains a GREAT financial health score, though it’s currently trading slightly above its Fair Value. The shares were sold at an average price of $59.07 per share. This transaction was conducted under a pre-established 10b5-1 trading plan.
In addition, Guyer exercised stock options to acquire 20,000 shares at a price of $19.26 per share, totaling approximately $385,200. Following these transactions, Guyer retains direct ownership of 5,487 shares of Corcept Therapeutics common stock.
In other recent news, Corcept Therapeutics reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company’s earnings per share (EPS) was $0.26, missing the forecast of $0.38, and its revenue was $181.89 million, below the expected $198.05 million. Despite these setbacks, Corcept saw a 40% year-over-year increase in revenue for 2024, reaching $675 million, and a 33% rise in net income to $141 million. The company also maintained strong cash reserves, ending the year with $603 million in cash and investments.
In regulatory developments, the U.S. Food and Drug Administration (FDA) accepted Corcept’s New Drug Application for relacorilant, a treatment for Cushing’s syndrome, with a decision expected by December 30, 2025. This submission was supported by data from several clinical trials, including the pivotal GRACE trial. Corcept’s CEO, Joseph Belanoff, expressed optimism about relacorilant’s potential to become a new standard of care for Cushing’s syndrome patients.
Additionally, Corcept is advancing its research in oncology, with the ROSELLA study in ovarian cancer nearing completion. The company has also set ambitious revenue guidance for 2025, projecting between $900 million and $950 million, indicating confidence in continued growth. Analyst firms such as Piper Sandler and H.C. Wainwright have shown interest in Corcept’s ongoing projects and future prospects.
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