Corcept Therapeutics Reports 19% Revenue Growth to $194.4 Million in Q2 2025

Corcept Therapeutics Incorporated reported its financial results for the second quarter of 2025, revealing a net product revenue of $194.4 million, a 19% increase from $163.8 million in the same period of 2024. For the first half of 2025, the company generated $351.6 million in revenue, up 13% from $310.6 million year-over-year. The growth in revenue was primarily driven by a 49% increase in sales volume, although this was partially offset by a 20% decrease in average price due to the introduction of an authorized generic version of its product, Korlym. The company reported a net income of $35.1 million for the quarter, slightly down from $35.5 million in the prior year, resulting in a diluted net income per share of $0.29 compared to $0.32 in 2024.

Operating expenses for Corcept increased significantly, totaling $167.8 million for the second quarter, compared to $128.2 million in the same quarter of 2024. This rise was attributed to higher selling, general, and administrative expenses, which surged to $103.9 million from $66.9 million, reflecting increased compensation and marketing efforts. Research and development expenses also rose to $60.5 million, up from $58.7 million, driven by costs associated with advancing clinical programs. The company’s total operating income for the quarter was $26.7 million, down from $35.6 million in the previous year.

In terms of strategic developments, Corcept has made significant strides in its product offerings. The company launched an authorized generic version of Korlym in June 2024, which has contributed to the increased sales volume. Additionally, Corcept is advancing its pipeline, with ongoing clinical trials for relacorilant, a selective cortisol modulator, which has shown promise in treating hypercortisolism and is under review by the FDA. The company also initiated a Phase 2 trial for dazucorilant in patients with ALS, further expanding its research portfolio.

Operationally, Corcept reported a decrease in cash and cash equivalents, totaling $102.7 million as of June 30, 2025, down from $127.7 million at the end of 2024. The company’s total assets decreased to $801.7 million from $840.6 million, while total liabilities increased slightly to $165.9 million. The company’s stock repurchase program has seen significant activity, with $130.5 million spent on repurchasing shares in the first half of 2025, reflecting a commitment to returning value to shareholders.

Looking ahead, Corcept anticipates continued growth driven by its product sales and ongoing clinical trials. The company expects to fund its operations and research activities without the need for additional capital in the near term, although it may consider raising funds for strategic purposes. The outlook remains positive as Corcept continues to focus on expanding its market presence and advancing its innovative therapies in the biopharmaceutical sector.