S&P 500 may face selling pressure as systematic funds reach full exposure
Joseph Douglas Lyon, Chief Accounting & Technology Officer at Corcept Therapeutics Inc. (NASDAQ:CORT), executed a series of stock transactions on March 31 and April 1, according to a recent SEC filing. Lyon sold a total of 200,650 shares of Corcept Therapeutics common stock, generating approximately $20.2 million. The sale prices ranged from $100.22 to $114.53 per share.
In addition to these sales, Lyon exercised stock options to acquire 200,650 shares, with purchase prices ranging from $13.56 to $19.26 per share, totaling approximately $3.3 million. Following these transactions, Lyon’s direct ownership stands at 9,009 shares. These transactions were made under a 10b5-1 trading plan adopted by Lyon in August 2024. The transactions occurred as Corcept, now valued at $8.86 billion, trades at a P/E ratio of 62 and maintains a "GREAT" financial health score according to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ top US stocks.
In other recent news, Corcept Therapeutics has announced significant developments in its clinical trials and regulatory progress. The company’s pivotal Phase 3 ROSELLA trial for relacorilant, in combination with nab-paclitaxel, met its primary endpoints in treating platinum-resistant ovarian cancer. This trial showed a 30% reduction in the risk of disease progression and improved overall survival, with median progression-free survival of 6.5 months compared to 5.5 months for the control group. Analysts from Truist Securities and H.C. Wainwright responded positively, both raising their price targets for Corcept to $150 while maintaining a Buy rating. These results have prompted plans to submit a New Drug Application (NDA) in the third quarter of 2025, with a potential market launch anticipated around 2026/27.
Additionally, the U.S. Food and Drug Administration (FDA) has accepted Corcept’s NDA for relacorilant for the treatment of endogenous hypercortisolism, with a target action date set for December 30, 2025. The drug demonstrated improvements in symptoms without serious adverse events in the GRACE and GRADIENT trials, supporting its potential as a new standard of care for Cushing’s syndrome. Corcept’s relacorilant has also been granted orphan drug designation for both ovarian cancer and Cushing’s syndrome in the United States and Europe. The company’s ongoing research explores further applications of relacorilant in treating other serious conditions, including prostate cancer.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.