the share should soon leave the base at the all-time high! $CORT (-2%)
Clarification of proprietary positions: TraderFox editors are currently holding these shares from the article and @Tenbagger2024 .
Corcept Therapeutics focuses on the development of drugs that regulate cortisol levels. With Korlym, the company has a drug on the market that has been generating strong sales growth for years and is used to treat Cushing's syndrome. Cortisol is also known as the stress hormone, but excessive levels can lead to a range of disorders and diseases. The company has been profitable since 2016, with sales expected to increase by 40 to 45% to 700 million by the end of the 2024 financial year. For 2025, the consensus expects sales growth of only 17% to USD 801m and that seems very low to me, especially as management recently said that screening for Cushing's syndrome is becoming more common and the number of patients receiving treatment is increasing.
Interestingly, the company has a successor product to Korlym in the pipeline, Relacorilant, which could soon be approved. Corcept submitted its application for approval to the FDA on December 30, 2024. If approved, Relacorilant could help Corcept achieve its ambitious sales target of USD 3 billion by 2029, which would correspond to a more than four-fold increase in sales as of today.
I continue to find the Corcept story, which I presented in Tenbagger back in 2021, extremely exciting and I also like the chart. The share is in an upward trend and has formed a base at its all-time high, which could be broken to the upside in the near future (CORT).
