Quarterly ResultApr 30, 2026, 04:27 PM
CORT Q1 Net Loss $(31.8)M; Lifyorli Approved; Relacorilant CRL
AI Summary
CORCEPT THERAPEUTICS INC (CORT) reported a net loss of $(31.8) million for Q1 2026, a significant decline from a net income of $20.5 million in Q1 2025, despite a 4.9% increase in product revenue to $164.9 million. This was primarily driven by a substantial rise in operating expenses. The company received FDA approval for Lifyorli™ (relacorilant) in March 2026 for platinum-resistant ovarian cancer, with sales commencing in April 2026. However, the FDA issued a Complete Response Letter for relacorilant for endogenous hypercortisolism, requesting additional efficacy evidence.
Key Highlights
- Q1 2026 Net Loss: $(31.8) million, down from $20.5 million Net Income in Q1 2025.
- Q1 2026 Product Revenue: $164.9 million, up 4.9% from $157.2 million in Q1 2025.
- Q1 2026 Diluted EPS: $(0.30), compared to $0.17 in Q1 2025.
- FDA approved Lifyorli™ (relacorilant) in March 2026 for platinum-resistant ovarian cancer.
- FDA issued Complete Response Letter for relacorilant for endogenous hypercortisolism in Dec 2025.
- Q1 2026 Operating Expenses: $214.5 million, up 39.5% from $153.8 million in Q1 2025.
- Net cash used in operating activities: $(16.8) million in Q1 2026, vs $4.8 million provided in Q1 2025.
- Committed to purchase additional 1,450 kg of API for $10.2 million.