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Joseph Douglas Lyon, the Chief Accounting & Technology Officer at Corcept Therapeutics Inc. (NASDAQ:CORT), recently executed a series of stock transactions, as disclosed in a recent SEC filing. On March 3, Lyon sold 4,579 shares of common stock, amounting to approximately $277,901. The sale was part of a pre-established 10b5-1 plan, with the shares sold at a weighted average price of $60.6905, within a range of $60.58 to $61.055 per share. The transaction occurred amid CORT’s impressive 141.5% return over the past year, though the stock has recently experienced an 11.7% decline in the past week.
In addition to the sale, Lyon acquired 4,579 shares through the exercise of stock options at a price of $13.56 per share, totaling $62,091. He also acquired 432 shares through two separate transactions, one of which was priced at $59.07 per share while the other was granted at no cost. These acquisitions are part of Corcept’s 2024 Incentive Award Plan.
Following these transactions, Lyon holds 9,009 shares of Corcept Therapeutics’ common stock.
In other recent news, Corcept Therapeutics reported its fourth-quarter 2024 earnings, which showed a miss in both earnings per share (EPS) and revenue compared to analyst projections. The company’s EPS was reported at $0.26, falling short of the forecasted $0.38, while revenue reached $181.89 million, below the expected $198.05 million. Despite these misses, Corcept achieved a 40% year-over-year increase in annual revenue, totaling $675 million for 2024, with net income rising 33% to $141 million. The company also announced that the FDA has accepted its New Drug Application for relacorilant, a treatment for Cushing’s syndrome, with a decision expected by December 30, 2025. The drug, supported by positive trial results, has been granted orphan drug designation in the U.S. and EU. Additionally, Corcept is expanding its research into oncology and other conditions, with ongoing studies in prostate cancer and metabolic disorders. Analysts from firms like Piper Sandler and H.C. Wainwright have engaged with the company regarding strategic developments and potential market impacts. These recent developments highlight Corcept’s continued efforts to advance its therapeutic offerings and address operational challenges.
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