Corcept increases FY23 revenue view $470M-$480M from from $455M – $470M

Consensus for FY23 revenue is $465.62M…Cash and investments were $414.8M at September 30M compared to $363.3M at the end of the prior quarter. Clinical Development…”We are also very excited by the potential of our clinical development programs, with important milestones approaching. In 2024, we expect to report data from our trials in Cushing’s syndrome or the GRACE, GRADIENT and CATALYST studies, ovarian cancer ROSELLA and ALS DAZALS. We also plan to submit an NDA for relacorilant in Cushing’s syndrome and to complete enrollment of our Phase 2b MONARCH study in patients with NASH,” added Dr. Belanoff. Cushing’s Syndrome GRACE – Phase 3 trial of relacorilant as a treatment for patients with all etiologies of Cushing’s syndrome – enrollment completed; new drug application NDA submission expected in the second quarter of 2024…”Relacorilant has tremendous promise as a treatment for patients with Cushing’s syndrome and we are eager to make it available,” said Bill Guyer, PharmD, Corcept’s Chief Development Officer. “Additionally, our CATALYST trial has the potential to serve as a landmark study to guide physician’s understanding of Cushing’s syndrome. CATALYST is the largest study ever conducted to establish the prevalence of hypercortisolism in patients with difficult-to-control diabetes. We expect CATALYST’s findings to greatly enhance physicians’ ability to diagnose and treat the many patients with Cushing’s syndrome whose condition now frequently goes undiagnosed. We expect data from the prevalence phase of the CATALYST study by early next year.”