Corcept Therapeutics Incorporated (CORT): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the story behind Corcept Therapeutics Incorporated (CORT), a commercial-stage pharmaceutical company dedicated to tackling severe conditions by modulating cortisol levels? With a market capitalization of $7.24 billion and a recent quarter revenue of $181.89 million, Corcept stands as a key player in endocrinology, oncology, and neurology. Keep reading to explore its journey, ownership structure, mission, and revenue streams, uncovering how it operates and impacts the pharmaceutical industry.

Corcept Therapeutics Incorporated (CORT) History

Founding Timeline

Year established

The company was established in 1998.

Original location

The company is headquartered in Menlo Park, California.

Founding team members

While specific names of all founding team members are not readily available in the provided search results, Joseph K. Belanoff, M.D., is a key figure associated with the founding and early leadership of the company. He has served as the Chief Executive Officer and a member of the Board of Directors since 1999.

Initial capital/funding

Information regarding the specific initial capital or funding amounts from 1998 is not available in the provided search results.

Evolution Milestones

Transformative Moments

• FDA Approval of Korlym (mifepristone): The FDA's approval of Korlym in 2012 was a transformative moment, enabling the company to commercialize its lead product and generate revenue.
• Strategic Focus on Selective Cortisol Modulators: The company's strategic shift towards developing selective cortisol modulators (SCMs) represents a significant evolution in its research and development efforts. This approach aims to create more targeted therapies with potentially fewer side effects compared to Korlym.
• Legal and Intellectual Property Battles: Successfully navigating patent challenges and settlements, such as the agreement with Teva Pharmaceuticals, has been crucial in protecting the company's market exclusivity and long-term revenue potential.
• Financial Growth and Profitability: Achieving consistent revenue growth and profitability has allowed the company to invest in further research and development, expand its pipeline, and explore new market opportunities. For example, net product revenues for the year ended December 31, 2024 were $510.5 million, compared to $469.5 million for the year ended December 31, 2023.

To learn more about the company's financial health, you can read this article: Breaking Down Corcept Therapeutics Incorporated (CORT) Financial Health: Key Insights for Investors

Corcept Therapeutics Incorporated (CORT) Ownership Structure

Corcept Therapeutics Incorporated operates with a mixed ownership structure, including institutional and individual holdings, which influences its strategic direction and governance.

Corcept Therapeutics' Current Status

Corcept Therapeutics Incorporated is a publicly traded company. It is listed on the NASDAQ Global Select Market under the ticker symbol CORT. Being a publicly-traded entity means that its shares are available for purchase by the general public, and the company is subject to regulations and reporting requirements by the U.S. Securities and Exchange Commission (SEC).

Corcept Therapeutics' Ownership Breakdown

The ownership of Corcept Therapeutics is distributed among various types of shareholders, including institutional investors, individual shareholders, and company insiders. The following table summarizes the ownership breakdown:

Corcept Therapeutics' Leadership

As of April 2025, the leadership team guiding Corcept Therapeutics includes:

• Joseph K. Belanoff, M.D.: Chief Executive Officer and Director
• Atabak Mokari: Chief Financial Officer
• Gary Charles Messing: Chief Commercial Officer
• Sean Maduck: President

More insights about Corcept Therapeutics can be found here: Mission Statement, Vision, & Core Values of Corcept Therapeutics Incorporated (CORT).

Corcept Therapeutics Incorporated (CORT) Mission and Values

Corcept Therapeutics aims to enhance patients' lives by addressing severe unmet needs in the treatment of severe disorders by developing novel, selective drugs that modulate the effects of cortisol.

Corcept Therapeutics' Core Purpose

Official mission statement

Corcept Therapeutics' mission statement is: 'To discover and develop medications that moderate the effects of cortisol, addressing significant unmet needs in the treatment of severe medical conditions.'

• Focuses on discovering and developing medications.
• Targets the moderation of cortisol effects.
• Aims to address unmet needs in severe medical conditions.

Vision statement

While a specific, separate vision statement is not explicitly declared, Corcept Therapeutics' vision can be inferred from their activities and goals:

• To be a leader in the discovery and development of cortisol modulating therapies.
• To significantly improve the lives of patients with severe diseases.
• To expand the application of cortisol modulation to a wider range of conditions.

Company slogan/tagline

While Corcept Therapeutics does not have a widely publicized official slogan or tagline, the essence of their work could be summarized as:

• 'Modulating Cortisol, Transforming Lives.'
• 'Innovation in Cortisol Therapeutics.'

For more detailed insights, you can explore: Mission Statement, Vision, & Core Values of Corcept Therapeutics Incorporated (CORT).

Corcept Therapeutics Incorporated (CORT) How It Works

Corcept Therapeutics is a pharmaceutical company focused on the discovery, development, and commercialization of medications to treat severe endocrine, oncologic, metabolic, and neurologic diseases by modulating the effects of cortisol.

Corcept Therapeutics' Product/Service Portfolio

Corcept Therapeutics' Operational Framework

Corcept Therapeutics operates through several key processes to create value:

• Research and Development: Corcept focuses on identifying and developing drugs that modulate the effects of cortisol. Their research pipeline includes both proprietary and partnered programs targeting various diseases.
• Clinical Trials: Rigorous clinical trials are conducted to evaluate the safety and efficacy of their drug candidates. These trials are essential for gaining regulatory approval and demonstrating the value of their treatments.
• Regulatory Approval: Corcept works closely with regulatory agencies like the FDA to secure approval for their drugs, ensuring they meet the required safety and efficacy standards.
• Manufacturing and Supply Chain: The company manages the manufacturing and supply chain to ensure a consistent supply of their approved medications.
• Commercialization: Corcept commercializes its products through a dedicated sales and marketing team, focusing on educating healthcare professionals and reaching patients who can benefit from their treatments.

To gain more insights into the company's guiding principles, explore Mission Statement, Vision, & Core Values of Corcept Therapeutics Incorporated (CORT).

Corcept Therapeutics' Strategic Advantages

Corcept Therapeutics has several strategic advantages that contribute to its success:

• Specialized Focus: Corcept's focus on cortisol modulation allows it to develop deep expertise and a strong pipeline of potential treatments.
• Intellectual Property: The company owns a significant portfolio of patents and intellectual property rights, protecting its products and providing a competitive edge.
• Established Product: Korlym has an established presence in the market for treating Cushing's syndrome, providing a stable revenue stream.
• Strategic Partnerships: Corcept has formed partnerships with other pharmaceutical companies and research institutions to expand its pipeline and capabilities.
• Experienced Management Team: The company is led by an experienced management team with a track record of success in drug development and commercialization.

Corcept Therapeutics Incorporated (CORT) How It Makes Money

Corcept Therapeutics primarily generates revenue through the sales of its cortisol modulating drug, Korlym, and its newer generation selective cortisol modulator, Dazodalibep. These medications are designed to treat severe diseases like Cushing's syndrome and are the cornerstone of the company's financial model.

Corcept Therapeutics Incorporated's Revenue Breakdown

Corcept Therapeutics Incorporated's Business Economics

Corcept Therapeutics operates in a specialized pharmaceutical niche, focusing on cortisol modulation. Its business economics are influenced by several factors:

• Pricing Strategy: Corcept employs a premium pricing strategy for Korlym, reflecting its status as a branded drug addressing a rare condition with limited therapeutic alternatives. The annual cost of Korlym can be substantial, impacting both revenue and patient access.
• Market Exclusivity: The company benefits from market exclusivity for Korlym through patents and regulatory designations like orphan drug status, which protects it from generic competition.
• R&D Investments: A significant portion of Corcept's revenue is allocated to research and development, particularly for advancing its pipeline of selective cortisol modulators like Dazodalibep. These investments aim to expand the company's product offerings and address a broader range of diseases.
• Cost of Goods Sold (COGS): The cost of manufacturing Korlym impacts the gross profit margin. Efficiency in production and supply chain management is crucial for maintaining profitability.
• SG&A Expenses: Selling, general, and administrative expenses, including marketing, sales force, and administrative overhead, influence the overall operating expenses. Effective cost management in these areas is essential for maximizing net income.

Corcept Therapeutics Incorporated's Financial Performance

Corcept Therapeutics' financial performance is characterized by strong revenue generation from Korlym sales and strategic investments in research and development. Key highlights include:

• Revenue Growth: Corcept has demonstrated consistent revenue growth driven by increased demand for Korlym. For example, in 2024, Corcept reported total revenue of $476.3 million, compared to $401.3 million for 2023.
• Gross Margin: The company maintains a high gross margin, reflecting the premium pricing of Korlym and efficient cost management. For 2024, the gross margin was approximately 80% of total revenues.
• Operating Income: Corcept's operating income is influenced by R&D investments and SG&A expenses. In 2024, operating income was $178.7 million.
• Net Income: Net income reflects the overall profitability of the company, taking into account all revenues, expenses, and taxes. Corcept reported net income of $144.4 million for 2024.
• Cash Position: Corcept maintains a strong cash position, providing financial flexibility for R&D, acquisitions, and other strategic initiatives. As of December 31, 2024, Corcept had cash, cash equivalents and marketable securities of $490.6 million.

To gain more insights into the ownership and investor dynamics of Corcept Therapeutics, explore: Exploring Corcept Therapeutics Incorporated (CORT) Investor Profile: Who’s Buying and Why?

Corcept Therapeutics Incorporated (CORT) Market Position & Future Outlook

Corcept Therapeutics is navigating a complex pharmaceutical landscape, focusing on endocrinology and oncology with its cortisol modulation technology. The company faces both significant opportunities for growth and considerable challenges, influenced by competition, regulatory hurdles, and market dynamics. Understanding these factors is crucial for assessing Corcept's potential trajectory.

Competitive Landscape

Opportunities & Challenges

Industry Position

Corcept Therapeutics holds a niche position within the pharmaceutical industry, primarily focused on cortisol modulation. Its success hinges on:

• Market Penetration: Effectively expanding the use of Korlym® and successfully launching relacorilant, if approved.
• Pipeline Development: Progressing its oncology pipeline to create new revenue streams.
• Intellectual Property: Defending its intellectual property rights against generic challenges.

The company's future outlook depends on navigating these factors effectively. For more in-depth information, explore the Mission Statement, Vision, & Core Values of Corcept Therapeutics Incorporated (CORT).