Corcept Therapeutics (CORT) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $164.9 million, up 4.9% year-over-year, driven by strong endocrinology demand and new product launches, though offset by lower average price due to increased generic sales.

• Net loss of $31.8 million in Q1 2026, compared to net income of $20.5 million in Q1 2025, reflecting higher operating expenses for new product launches and growth initiatives.

• FDA approved Lifyorli (relacorilant) for platinum-resistant ovarian cancer in March 2026, with rapid physician adoption, NCCN guideline inclusion, and U.S. sales beginning in April.

• Landmark clinical trials (CATALYST, MOMENTUM, ROSELLA) and multiple late-stage programs in oncology, MASH, and ALS are driving increased screening, treatment, and long-term growth, with key data readouts expected by year-end and into next year.

• Specialty pharmacy transition to Curant Health completed in early 2026, supporting record patient starts and prescription volume.

Financial highlights

• Q1 2026 revenue: $164.9 million, up from $157.2 million in Q1 2025 (4.9% growth).

• Net loss: $31.8 million in Q1 2026 vs. net income of $20.5 million in Q1 2025.

• Operating expenses increased to $214.5 million from $153.8 million, mainly due to launch preparations and investments.

• Cash and investments totaled $515.4 million as of March 31, 2026.

• R&D expenses rose to $66.3 million from $60.7 million year-over-year.

Outlook and guidance

• 2026 revenue guidance raised to $950–$1,050 million, reflecting confidence in endocrinology and oncology businesses.

• Expect higher R&D and SG&A expenses in 2026 as clinical programs and commercialization expand.

• Sufficient liquidity to fund operations and planned R&D for at least the next 12 months without additional financing.

• Anticipate EMA approval for relacorilant plus nab-paclitaxel in ovarian cancer by year-end.

• Results from key clinical trials (BELLA, MONARCH, ALS Phase 3) expected by end of 2026 or early 2027.