What Happened?
Shares of biopharma company Corcept Therapeutics (NASDAQ: CORT) jumped 2.1% in the afternoon session after the company announced a specialty pharmacy partnership with Curant Health. Corcept has selected Curant Health's 'Curant Rare' division to provide personalized care and coordinated access to therapy for its patients. The partnership is designed to offer comprehensive support to patients and caregivers, helping them navigate the complexities of their treatment. This development comes as Corcept continues to rely on its sole-marketed drug, Korlym, for treating Cushing's syndrome. The company is also working to advance its lead pipeline candidate, relacorilant, for the same condition, aiming to broaden its patient base and reduce its dependence on a single product in the future.
The shares closed the day at $84.20, up 1.3% from previous close.
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What Is The Market Telling Us
Corcept’s shares are very volatile and have had 25 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 8 days ago when the stock gained 5.4% on the news that the company announced it would present new data from its pivotal Phase 3 ROSELLA trial and that the U.S. Food and Drug Administration (FDA) accepted its New Drug Application for relacorilant, a treatment for platinum-resistant ovarian cancer.
The new, late-breaking data from the ROSELLA trial was set to be presented at the European Society for Medical Oncology (ESMO) Annual Meeting. The trial studied the drug relacorilant in patients with platinum-resistant ovarian cancer, a group with a particularly poor prognosis. In a separate and significant development, the company also confirmed that the FDA had accepted its New Drug Application for the same drug. This acceptance marked a formal step in the review process for potential market approval, signaling progress in bringing the new therapy to patients.
Corcept is up 68.6% since the beginning of the year, but at $84.25 per share, it is still trading 26.2% below its 52-week high of $114.22 from March 2025. Investors who bought $1,000 worth of Corcept’s shares 5 years ago would now be looking at an investment worth $4,848.
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