Corcept Therapeutics Incorporated (CORT): Modelo de negócios Canvas [Jan-2025 Atualizado]

A Corcept Therapeutics Incorporated (CORT) surge como uma empresa farmacêutica pioneira que revoluciona o cenário de tratamentos de transtorno metabólico e psiquiátrico por meio de sua inovadora estratégia de desenvolvimento de medicamentos direcionados ao receptor de cortisol. Ao alavancar tecnologias de pesquisa de ponta e colaborações estratégicas, o CORT está na vanguarda de intervenções médicas personalizadas, oferecendo soluções terapêuticas inovadoras que prometem transformar o atendimento ao paciente e enfrentar desafios complexos de saúde com precisão e eficácia sem precedentes.

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com instituições de pesquisa farmacêutica

A Corcept Therapeutics mantém parcerias estratégicas com as seguintes instituições de pesquisa:

Instituição	Foco de colaboração	Ano estabelecido
Universidade de Stanford	Pesquisa de receptores glicocorticóides	2010
Universidade da Califórnia, São Francisco	Pesquisa de síndrome de Cushing	2015

Acordos de licenciamento com parceiros de desenvolvimento de medicamentos

A Corcept estabeleceu parcerias críticas de licenciamento:

• Contrato de licenciamento da Korlym (MifePristone) com o NIH
• Colaboração de Desenvolvimento Relacorilante com Ipsen Pharmaceuticals

Centros Médicos Acadêmicos para Ensaios Clínicos

Parcerias de ensaios clínicos incluem:

Centro Médico	Ensaios ativos	Foco na pesquisa
MD Anderson Cancer Center	3 ensaios em andamento	Síndrome de Cushing
Clínica Mayo	2 ensaios em andamento	Antagonistas do receptor glicocorticóide

Organizações de fabricação contratadas

Parcerias de fabricação:

• Pathon Pharmaceuticals - Parceiro de fabricação primária
• Lonza Group - Suporte secundário de fabricação

Despesas de parceria total em 2023: US $ 12,3 milhões

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: Atividades -chave

Pesquisa e Desenvolvimento Farmacêutico

A Corcept Therapeutics investiu US $ 57,1 milhões em despesas de P&D em 2022. A Companhia se concentra no desenvolvimento de medicamentos direcionados às interações do receptor de cortisol, com ênfase primária aos medicamentos para distúrbios metabólicos e psiquiátricos.

Métrica de P&D	2022 Valor
Despesas totais de P&D	US $ 57,1 milhões
Programas de pesquisa ativa	3 faixas primárias de desenvolvimento de medicamentos
Aplicações de patentes	12 patentes ativas

Projeto de ensaio clínico e execução

O Corcept realiza vários ensaios clínicos simultaneamente, com uma média de 4-5 ensaios ativos por ano, direcionando áreas terapêuticas específicas.

• Ensaios clínicos em andamento para a síndrome de Cushing
• Estudos de tratamento de transtornos metabólicos
• Ensaios de intervenção de transtorno psiquiátrico

Processos de conformidade regulatória e aprovação de medicamentos

A empresa mantém padrões rigorosos de conformidade com os regulamentos da FDA, com um registro de conformidade de 100% para solicitações de medicamentos enviados.

Métrica regulatória	2022-2023 Status
Submissões da FDA	2 novas aplicações de drogas
Taxa de conformidade regulatória	100%
Medicamentos aprovados	Korlym, Isturisa

Desenvolvimento de medicamentos direcionados ao receptor de cortisol

Corcept é especializado no desenvolvimento de medicamentos que interagem com os receptores de cortisol, com Korlym Sendo o seu principal produto para o tratamento da síndrome de Cushing.

• Mecanismo de direcionamento de drogas especializado
• Abordagem de interação molecular única
• Focado em distúrbios endócrinos raros

Pesquisa médica contínua em distúrbios metabólicos e psiquiátricos

A empresa alocou US $ 62,4 milhões para programas de pesquisa em intervenções metabólicas e psiquiátricas do transtorno em 2022.

Área de foco de pesquisa	Investimento	Projetos de pesquisa ativa
Distúrbios metabólicos	US $ 35,2 milhões	3 programas de pesquisa ativos
Distúrbios psiquiátricos	US $ 27,2 milhões	2 programas de pesquisa ativos

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: Recursos -chave

Tecnologia proprietária de desenvolvimento de medicamentos

A Corcept Therapeutics se concentra no desenvolvimento de medicamentos direcionados aos receptores glicocorticóides. A partir de 2024, o medicamento principal da empresa é o Korlym (MifePristone), com uma autorização de mercado para a síndrome de Cushing.

Métrica de tecnologia	Dados específicos
Plataforma de desenvolvimento de medicamentos	Tecnologia antagonista do receptor glicocorticóide
Medicamento primário	Korlym (MifePristone)
Investimento em P&D (2023)	US $ 128,7 milhões

Portfólio de propriedade intelectual

O Corcept mantém uma robusta estratégia de propriedade intelectual.

• Total de patentes ativas: 27
• Faixa de expiração de patentes: 2028-2035
• Categorias de patentes: composição de medicamentos, processo de fabricação, aplicações terapêuticas

Equipe de pesquisa científica especializada

A empresa emprega pessoal científico altamente especializado.

Composição da equipe de pesquisa	Número
Equipe total de pesquisa	86
Pesquisadores de doutorado	42
Especialistas em pesquisa clínica	24

Pesquisa avançada e instalações de laboratório

O Corcept opera infraestrutura de pesquisa especializada.

• Localização de pesquisa primária: Menlo Park, Califórnia
• Espaço total de laboratório: 35.000 pés quadrados
• Investimento avançado de equipamentos de pesquisa (2023): US $ 4,2 milhões

Dados de ensaios clínicos e insights de pesquisa

A empresa mantém bancos de dados de pesquisa clínica abrangentes.

Métrica do ensaio clínico	Dados quantitativos
Ensaios clínicos concluídos	18
Ensaios clínicos em andamento	7
Dados totais de pacientes coletados	3.642 pacientes

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: proposições de valor

Tratamentos inovadores para condições metabólicas e psiquiátricas

Corcept Therapeutics se concentra no desenvolvimento drogas antagonistas do receptor de cortisol. A Korlym (MifePristone) gerou US $ 404,7 milhões em receitas líquidas de produtos para o ano inteiro de 2022.

Produto	Indicação	Receita anual
Korlym	Hiperglicemia na síndrome de Cushing	US $ 404,7 milhões (2022)

Soluções terapêuticas direcionadas para distúrbios relacionados ao cortisol

O foco principal da empresa é o desenvolvimento de tratamentos para distúrbios relacionados à desregulação do cortisol.

• Medicamento primário: Korlym para a síndrome de Cushing
• Recorlev (Levoketoconazol) para a síndrome endógena de Cushing
• Ensaios clínicos em andamento para condições adicionais relacionadas ao cortisol

Intervenções farmacêuticas personalizadas

O Corcept desenvolve medicamentos de precisão direcionados a vias moleculares específicas.

Área de pesquisa	Estágio de desenvolvimento	Mercado potencial
Antagonistas do receptor de cortisol	Comercializado	Tamanho estimado de mercado de US $ 500 milhões

Melhoria potencial na qualidade de vida do paciente

Os medicamentos da Corcept têm como objetivo abordar condições complexas metabólicas e psiquiátricas com opções limitadas de tratamento.

• Redução de sintomas de hiperglicemia
• Gerenciamento das complicações da síndrome de Cushing
• Potenciais intervenções neurológicas de transtorno

Pesquisa médica avançada abordando desafios complexos de saúde

As despesas de pesquisa e desenvolvimento em 2022 foram de US $ 146,8 milhões, demonstrando compromisso com soluções terapêuticas inovadoras.

Métrica financeira	2022 Valor
Despesas de P&D	US $ 146,8 milhões
Resultado líquido	US $ 146,1 milhões

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: relacionamentos com o cliente

Engajamento direto com profissionais de saúde

A Corcept Therapeutics mantém o envolvimento direto com os profissionais de saúde por meio de estratégias de comunicação direcionadas:

Método de engajamento	Freqüência	Público -alvo
Interações representativas de vendas	Semanalmente	Endocrinologistas, psiquiatras
Reuniões de Ligação de Ciências Médicas	Mensal	Líderes de opinião -chave
Consultas clínicas individuais	Conforme necessário	Médicos especializados

Programas de apoio ao paciente e educação

O Corcept fornece serviços abrangentes de apoio ao paciente para a síndrome de Cushing e condições relacionadas:

• Inscrição do Programa de Assistência ao Paciente: 1.247 pacientes (2023)
• Suporte gratuito à medicação para pacientes elegíveis: US $ 2,3 milhões em valor total do programa
• Linha direta de suporte ao paciente 24/7: 1-800 Número de contato dedicado

Conferência Médica e Participação do Simpósio

Métricas de engajamento da conferência para 2023:

Tipo de conferência	Número de conferências	Apresentações
Conferências de endocrinologia	7	12
Simpósios de pesquisa psiquiátrica	5	8
Fóruns de Pesquisa Clínica	4	6

Plataformas de informações de saúde digital

Estatísticas de engajamento digital:

• Site da empresa Visitantes únicos: 87.500 por mês
• Usuários registrados por portal profissional de saúde: 2.340
• Recursos de educação médica online: 45 trabalhos clínicos para download

Comunicação de pesquisa clínica em andamento

Canais de comunicação de pesquisa:

Canal de comunicação	Alcance anual	Volume de conteúdo
Publicações de revistas revisadas por pares	25.000 pesquisadores	8 Estudos publicados
Atualizações de ensaios clínicos	1.500 assinantes diretos	12 atualizações trimestrais
Pesquisa on -line	3.200 participantes	6 webinars anuais

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: canais

Vendas diretas para instituições de saúde

A Corcept Therapeutics mantém uma força de vendas especializada direcionada às principais instituições de saúde. No quarto trimestre 2023, a empresa empregou 72 representantes de vendas diretas focadas nos mercados de endocrinologia e psiquiatria.

Tipo de canal de vendas	Número de representantes	Segmentos de assistência médica -alvo
Equipe de vendas diretas	72	Endocrinologia, psiquiatria

Redes de distribuição farmacêutica

A empresa aproveita vários canais de distribuição farmacêutica para os medicamentos para Korlym e Isturisa.

• Cardinal Health
• Amerisourcebergen
• McKesson Corporation

Apresentações da conferência médica

Corcept participa ativamente de conferências médicas, apresentando pesquisas para Korlym e Isturisa. Em 2023, a empresa apresentou 14 conferências médicas especializadas.

Tipo de conferência	Número de conferências	Foco primário
Conferências de endocrinologia	8	Pesquisa de síndrome de Cushing
Conferências de Psiquiatria	6	Pesquisa de medicamentos psiquiátricos

Plataformas de informações médicas online

Os canais digitais incluem o site oficial da empresa e os portais de informações médicas. O tráfego do site em 2023 atingiu aproximadamente 125.000 visitantes profissionais de saúde exclusivos mensalmente.

Redes de consulta profissional de saúde

A Corcept mantém uma rede de 215 líderes de opinião e consultores médicos em várias especialidades a partir de 2024.

Composição da rede de consulta	Número de profissionais
Endocrinologistas	87
Psiquiatras	68
Oncologistas	60

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: segmentos de clientes

Endocrinologistas

O Corcept Therapeutics alvo os endocrinologistas especializados em distúrbios hormonais. A partir de 2024, aproximadamente 7.500 endocrinologistas certificados pelo conselho praticam nos Estados Unidos.

Características do segmento	Tamanho de mercado	Foco no tratamento
Especialistas em Transtorno Hormonal	7.500 praticantes	Gerenciamento da síndrome de Cushing

Psiquiatras

A empresa se concentra em psiquiatras que gerenciam pacientes com condições metabólicas e psiquiátricas relacionadas à desregulação do cortisol.

Segmento psiquiátrico	Número de especialistas	Áreas de tratamento em potencial
Profissionais psiquiátricos	45.000 psiquiatras praticantes	Gerenciamento de transtornos metabólicos

Pacientes com síndrome de Cushing

O Corcept alvo os pacientes diagnosticados com a síndrome de Cushing, um distúrbio endócrino raro.

• População estimada de pacientes: 10-15 por milhão de indivíduos
• Contagem total de pacientes nos EUA: aproximadamente 3.000-4.500 casos diagnosticados
• Novos diagnósticos anuais: estimado de 200 a 300 pacientes

Pacientes com transtorno metabólico

A empresa aborda pacientes com distúrbios metabólicos associados aos desequilíbrios de cortisol.

Tipo de transtorno metabólico	População estimada de pacientes	Relevância potencial do tratamento
Síndrome metabólica	23% da população adulta dos EUA	Alto potencial para intervenções de tratamento

Instituições de saúde e centros de pesquisa

A Corcept Therapeutics colabora com instituições de pesquisa médica especializadas.

• Os 50 principais centros de pesquisa médica acadêmica
• Hospitais Especiais Endócrinos: 250 em todo o país
• Parcerias de pesquisa do National Institutes of Health (NIH)

Mercado endereçável total para Korlym e tratamentos relacionados estimados em US $ 500 milhões anualmente.

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Corcept Therapeutics registrou despesas de P&D de US $ 126,1 milhões. Os gastos de P&D da empresa aumentaram de US $ 104,3 milhões em 2021.

Ano	Despesas de P&D	Mudança de ano a ano
2021	US $ 104,3 milhões	-
2022	US $ 126,1 milhões	+21%

Investimentos de ensaios clínicos

A Corcept Therapeutics investiu US $ 58,4 milhões especificamente em ensaios clínicos durante 2022, concentrando -se no Korlym e em potenciais novas indicações.

• Foco primário na pesquisa de síndrome de Cushing
• Ensaios clínicos em andamento para possíveis novas aplicações terapêuticas
• Investimentos em estudos clínicos de Fase II e Fase III

Custos de conformidade regulatória

A Companhia alocou aproximadamente US $ 12,7 milhões para conformidade regulatória e despesas administrativas relacionadas em 2022.

Despesas de fabricação e produção

Os custos de fabricação da Corcept Therapeutics em 2022 foram de US $ 37,5 milhões, representando 14,2% da receita total.

Categoria de despesa	2022 quantidade	Porcentagem de receita
Custos de fabricação	US $ 37,5 milhões	14.2%
Sobrecarga de produção	US $ 22,3 milhões	8.5%

Infraestrutura de marketing e vendas

As despesas de marketing e vendas da Corcept Therapeutics atingiram US $ 89,6 milhões em 2022, representando um aumento de 17% em relação ao ano anterior.

• Expansão da força de vendas
• Investimentos de marketing digital
• Programas de engajamento profissional de saúde

Despesas operacionais totais para 2022: US $ 264,3 milhões

Corcept Therapeutics Incorporated (CORT) - Modelo de negócios: fluxos de receita

Vendas farmacêuticas de produtos

No quarto trimestre 2023, a Corcept Therapeutics gerou US $ 119,1 milhões em receita total com as vendas de produtos farmacêuticos, principalmente de Korlym (Mifepristone) para a síndrome de Cushing.

Produto	Receita anual (2023)	Segmento de mercado
Korlym	US $ 119,1 milhões	Distúrbios endócrinos
Recorlev	US $ 12,3 milhões	Síndrome de Cushing

Propriedade intelectual de licenciamento

A Corcept desenvolveu um portfólio robusto de propriedade intelectual com várias famílias de patentes protegendo seus candidatos a drogas.

• Portfólio de patentes ativo cobrindo antagonistas dos receptores glicocorticóides
• Proteção de patentes que se estende a 2035 para tecnologias principais
• Potencial receita de licenciamento de plataformas de desenvolvimento de medicamentos proprietários

Subsídios de pesquisa e colaborações

Em 2023, a Corcept garantiu colaborações de pesquisa com valor estimado de US $ 5,2 milhões.

Acordos de royalties em potencial

Os atuais acordos de royalties estimados em gerar aproximadamente US $ 2,7 milhões anualmente a partir de parcerias de desenvolvimento de medicamentos.

Comercialização terapêutica de medicamentos

A estratégia comercial da Corcept se concentra em distúrbios endócrinos raros com intervenções terapêuticas direcionadas.

Candidato a drogas	Valor potencial de mercado	Estágio de desenvolvimento
Recorlev	US $ 150-200 milhões	FDA aprovado
CORT125134	US $ 75-100 milhões	Ensaios clínicos

Corcept Therapeutics Incorporated (CORT) - Canvas Business Model: Value Propositions

Corcept Therapeutics Incorporated's value proposition centers on delivering first-in-class or best-in-class therapies by modulating the effects of cortisol, targeting serious, often rare, diseases.

Korlym, the company's sole marketed product, represents a foundational value pillar. It is the first FDA-approved medication for endogenous hypercortisolism, a severe endocrine disorder. The commercial performance reflects its unique market position, with first nine months of 2025 sales reaching $559.3 million, up around 13.4% year over year. Management's full-year 2025 revenue guidance has been revised to the $800-$850 million range, following strong Q3 2025 revenue of $207.6 million.

The pipeline is anchored by relacorilant, positioned as a next-generation, selective cortisol modulator. This asset targets both endocrinologic and oncologic disorders, offering a potentially improved safety profile over existing treatments. For endogenous hypercortisolism, the FDA has set a Prescription Drug User Fee Act (PDUFA) target action date of Dec. 30, 2025. The global market for endogenous hypercortisolism is estimated at $5.89 billion in 2025.

Relacorilant's value extends into oncology, specifically for platinum-resistant ovarian cancer (PROC). Data from the Phase III ROSELLA trial showed that adding relacorilant to nab-paclitaxel resulted in a 30% reduction in the risk of progression (HR 0.70) and a 31% reduction in the risk of death (HR 0.69) compared to monotherapy. The FDA accepted the New Drug Application (NDA) for this indication, with a PDUFA date of July 11, 2026. Analysts project relacorilant's total global sales could reach $3.38bn by 2031.

Corcept Therapeutics Incorporated's focus is on treatment for rare, severe endocrinologic and oncologic disorders where current therapeutic options are limited or inadequate. The company is also developing relacorilant for other indications, including prostate cancer.

The pricing power derived from these unique, often orphan, indications is reflected in the company's exceptional profitability structure, as evidenced by the high gross margin.

Value Metric	Financial/Statistical Data (Late 2025)
Korlym (Endogenous Hypercortisolism)	First FDA-approved medication for the indication.
Relacorilant (Hypercortisolism PDUFA)	Dec. 30, 2025
Relacorilant (Ovarian Cancer PDUFA)	July 11, 2026
Hypercortisolism Market Size (2025 Est.)	$5.89 billion
Relacorilant Ovarian Cancer Efficacy	30% risk reduction in progression
Gross Margin (Stated Value)	98.37%
Gross Margin (Q2 2025 Actual)	98.23%
Korlym Sales (H1 2025)	$351.6 million
2025 Revenue Guidance (Revised)	$800 - $850 million

The value proposition is further supported by the company's operational focus:

• Korlym: Sole-marketed drug for Cushing's syndrome.
• Relacorilant: Selective glucocorticoid receptor antagonist.
• Orphan Drug Designation: Granted in U.S. and EU for hypercortisolism.
• Pipeline Expansion: Studies in ovarian, endometrial, cervical, and pancreatic cancers.

The company's market capitalization as of early December 2025 was $8.83 billion.

Corcept Therapeutics Incorporated (CORT) - Canvas Business Model: Customer Relationships

High-touch, specialized patient support programs for rare disease management are central to Corcept Therapeutics Incorporated's commercial structure for Korlym. The company ensures deep patient engagement through its Corcept Cares Patient Advocate Program. Over 85% of patients shipped medication from the SPARK specialty pharmacy participated in this program.

Dedicated patient access services are managed through the Support Program for Access and Reimbursement for Korlym (SPARK), which is the sole commercial distribution channel for Korlym tablets. This dedicated coordination helps navigate insurance and affordability hurdles. As a result of these efforts, over 90% of patients who received medication from SPARK paid $25 or less for a 30-day supply.

The investment in these relationships is substantial, as evidenced by the company's operating expenses. Third quarter 2025 operating expenses were $197.4 million, which included spending to prepare for the launches of relacorilant for hypercortisolism and platinum-resistant ovarian cancer.

Relationship Metric	Value/Statistic	Context/Program
Patient Advocate Program Participation	Over 85%	Patients receiving Korlym via SPARK
Affordable Supply Rate	Over 90% paid $25 or less	For a 30-day supply via SPARK
Sales Force Size (Target End of 2025)	175 clinical specialists	Expansion from 125
Estimated Revenue Per New Rep	$2-$3 million annually	Analyst estimate for new hires

Direct engagement with endocrinologists and oncologists is being aggressively scaled up to address the underdiagnosed patient population. Only an estimated 10%-15% of hypercortisolism patients are currently diagnosed. To capture this opportunity, Corcept Therapeutics Incorporated is expanding its clinical specialist team from 125 to a target of 175 by the end of 2025. Analysts project each new sales representative could generate $2-$3 million in annual revenue.

Medical information and support for key prescribers are critical, especially as Corcept Therapeutics Incorporated expands its oncology focus with relacorilant. The company supports physicians with educational materials to help them identify and manage hypercortisolism, alongside peer-to-peer programs featuring leading experts. The clinical data supporting the oncology push, such as the ROSELLA trial in platinum-resistant ovarian cancer, involved 381 patients.

For patients who may not qualify for clinical trials or need access to investigational medications, Corcept Therapeutics Incorporated offers compassionate use (expanded access). Physicians can initiate this process by contacting the company directly. The company held $524.2 million in cash and investments as of September 30, 2025, supporting these extensive commercial and medical affairs activities.

• Physicians request investigational access by contacting Corcept Therapeutics Incorporated at 650-327-3270 or emailing access@corcept.com.
• The company is preparing for the launch of relacorilant, with an NDA submission for ovarian cancer expected by Q3 2025.
• Corcept Therapeutics Incorporated is focused on meeting increasing demand, having modified its 2025 revenue guidance to $800 - $850 million.

Corcept Therapeutics Incorporated (CORT) - Canvas Business Model: Channels

You're looking at how Corcept Therapeutics Incorporated gets its value proposition-medications like Korlym-to the customer base, and the data shows a clear pivot toward expansion in late 2025.

Exclusive network of specialty pharmacy vendors for dispensing Korlym.

Corcept Therapeutics Incorporated has been actively managing its specialty pharmacy distribution for Korlym. The company experienced fulfillment capacity constraints earlier in 2025 due to its previous vendor, Optime Care, which had been the exclusive provider since 2017.

The channel strategy shifted significantly in the third quarter of 2025:

• The company delivered a notice of termination to Optime Care on October 10, 2025, with the agreement ending effective January 8, 2026.
• Corcept Therapeutics Incorporated added a new specialty pharmacy on October 1st.
• The company stated plans to add others in the coming months following the Q3 2025 update.

This operational change is intended to meet the surge in demand, which saw Korlym generate $559.3 million in sales for the first nine months of 2025. The full-year 2025 revenue guidance was modified to the range of $800 - $850 million.

Direct sales force targeting endocrinology and oncology specialists.

Corcept Therapeutics Incorporated is aggressively scaling its commercial presence to capture more of the underdiagnosed hypercortisolism patient population and to prepare for potential oncology indications.

The sales force expansion is a key metric here:

Metric	Value as of Late 2025
Sales Force Size (Previous)	125 clinical specialists
Sales Force Size (Target End of 2025)	175 clinical specialists
Annualized Expansion Cost (Projected)	$20-$30 million annually

This growth is specifically aimed at increasing education among endocrinologists, as only an estimated 10%-15% of hypercortisolism patients are currently diagnosed. Furthermore, the sales force build-out supports the oncology push, targeting specialists for indications like platinum-resistant ovarian cancer, where the potential market is estimated at $1 billion in annual sales if relacorilant is approved.

Medical science liaisons (MSLs) for scientific exchange with key opinion leaders.

While a specific headcount for the Medical Science Liaison (MSL) team isn't explicitly stated, Corcept Therapeutics Incorporated is actively adding personnel across its commercial and development functions to support its expanding pipeline, which includes relacorilant for hypercortisolism (PDUFA date December 30, 2025) and oncology indications. The company has a stated need to 'continue to add talented, experienced personnel to our endocrine, oncology and emerging markets businesses'.

Clinical trial sites for patient recruitment and drug delivery.

The channel for clinical development involves a global infrastructure of ongoing trials across multiple therapeutic areas, which necessitates engagement with numerous investigator sites. Corcept Therapeutics Incorporated is running several key studies that define this channel:

• Hypercortisolism: Trials include GRACE, GRADIENT, CATALYST (which found 23.8% prevalence in difficult-to-control diabetes patients in Phase 1), and MOMENTUM.
• Oncology: The pivotal Phase 3 ROSELLA trial in platinum-resistant ovarian cancer enrolled 381 women. New studies are expanding into endometrial, cervical, and pancreatic cancers.
• Other Areas: Trials are ongoing or planned for ALS (DAZALS) and MASH/NASH.

The company is focused on managing these clinical trials effectively as part of its growth strategy.

Corcept Therapeutics Incorporated (CORT) - Canvas Business Model: Customer Segments

You're looking at the specific groups Corcept Therapeutics Incorporated (CORT) targets with its cortisol modulation platform, which is a mix of established revenue drivers and high-potential pipeline expansion areas as of late 2025.

The core customer segment remains patients with endogenous hypercortisolism, also known as Cushing's syndrome. This is currently served by Korlym (mifepristone), which is indicated for treating hyperglycemia secondary to this condition in adult patients with type 2 diabetes or glucose intolerance for whom surgery failed or who are not candidates for surgery. The company is awaiting a decision on its next-generation selective cortisol modulator, relacorilant, for this indication, with the FDA PDUFA date set for December 30, 2025.

The financial performance tied to this segment shows strong momentum. For the first nine months of 2025, Korlym recorded sales of $559.3 million, representing an increase of around 13.4% year over year. Corcept Therapeutics has a revised 2025 revenue guidance range of $800 - $850 million, though prior guidance was as high as $900-950 million. The total Cushing's syndrome diagnostics and therapeutics market is valued at $383.04 million in 2025.

Here's a breakdown of the key patient populations and the associated market scope:

Customer Segment	Primary Product/Indication Focus	Key Statistical Data Point (as of late 2025)
Endogenous Hypercortisolism (Cushing's Syndrome)	Korlym (current); Relacorilant (near-term)	Korlym sales: $559.3 million (first nine months of 2025)
Oncologists treating Platinum-Resistant Ovarian Cancer (PROC)	Relacorilant + nab-paclitaxel (ROSELLA trial)	Estimated annual US candidates for new therapy: 20,000 women
Physicians treating Difficult-to-Control Type 2 Diabetes (T2D)	Korlym (current); Relacorilant (potential)	Hypercortisolism prevalence in refractory T2D cohort: 23.8%

The potential future segment of oncologists treating PROC is supported by strong Phase 3 ROSELLA trial data. The combination therapy showed a median Progression-Free Survival (PFS-BICR) of 6.5 months compared to 5.5 months for chemotherapy alone, a 30% reduction in progression risk. An interim look at Overall Survival (OS) showed a median of 16 months versus 11.5 months for the control arm. The PDUFA date for relacorilant in this indication is July 11, 2026.

For the potential future indication in T2D, the CATALYST study provided concrete numbers on the addressable patient pool. You should note that:

• 23.8% of patients with difficult-to-control T2D (HbA1c >7.5%) had hypercortisolism.
• Korlym treatment led to a 1.47% reduction in HbA1c versus 0.15% for placebo in this group.
• This T2D sub-segment is estimated to represent a $2.8 billion market opportunity.

The specialists driving the current business are physicians in endocrinology and rare metabolic disorders. Corcept Therapeutics Incorporated has been actively building out its commercial reach to capture this market:

• Sales force expanded to 125 specialists, with a goal of reaching 175 by year-end 2025.
• The company reported a record rate of new prescribers over five consecutive quarters as of Q1 2025.

Looking further out, Corcept Therapeutics projects that relacorilant, once approved across its pipeline indications, could achieve peak annual revenues of $3 billion to $5 billion in the hypercortisolism market alone within three to five years. The company also maintains a strong cash position, reported at $515 million at the end of Q2 2025, which supports the commercial and clinical expansion targeting these segments.

Corcept Therapeutics Incorporated (CORT) - Canvas Business Model: Cost Structure

You're looking at the expense side of Corcept Therapeutics Incorporated's business, which is heavily weighted toward scaling commercial operations and advancing the pipeline. The total operating expenses for the second quarter of 2025 hit $\mathbf{\$167.8 \text{ million}}$, a noticeable increase from $\mathbf{\$128.2 \text{ million}}$ in the same period last year.

Here's a quick look at some of the key financial figures that define the cost base as of late 2025:

Metric	Value (Q2 2025 or Latest)	Period/Date
Total Operating Expenses	$\mathbf{\$167.8 \text{ million}}$	Q2 2025
Selling, General, and Administrative (SG&A) Expenses	$\mathbf{\$103.9 \text{ million}}$	Q2 2025
SG&A Year-over-Year Growth	$\mathbf{55.3\%}$	Q2 2025 vs Q2 2024
Accrued Research and Development Expenses	$\mathbf{\$28,322 \text{ thousand}}$	September 30, 2025
Cash and Investments	$\mathbf{\$515.0 \text{ million}}$	June 30, 2025

The push for commercialization is clearly visible in the Selling, General, and Administrative (SG&A) line item. This expense category surged $\mathbf{55.3\%}$ year-over-year in Q2 2025, reaching $\mathbf{\$103.9 \text{ million}}$. This reflects the scaling of the commercial organization, including the growth in clinical specialists, which was reported to be around $\mathbf{145}$ versus approximately $\mathbf{60}$ in 2024, with a target of $\mathbf{175}$ by year-end. That rapid scaling compresses operational leverage, as this SG&A growth substantially outpaced the $\mathbf{18.7\%}$ year-over-year revenue growth in the quarter.

Heavy investment in Research and Development (R&D) remains a core cost driver, underpinning pipeline expansion. While R&D is bundled into the total operating expenses, the balance sheet shows accrued research and development expenses stood at $\mathbf{\$28,322 \text{ thousand}}$ as of September 30, 2025. This spending supports the New Drug Applications (NDAs) in progress for relacorilant in hypercortisolism (PDUFA December 30, 2025) and platinum-resistant ovarian cancer.

Costs associated with patent defense and litigation represent a defintely persistent risk. Corcept Therapeutics Incorporated is currently involved in an appeal of the Teva Pharmaceuticals USA, Inc. patent litigation, which stems from Teva's Abbreviated New Drug Application (ANDA) filing for a generic version of Korlym. The company noted in its February 2025 10-K that such litigation is costly and diverts management's attention from productive efforts.

Manufacturing costs for Korlym are relatively low compared to the revenue generated, which supports a high gross margin profile, though this is being challenged by generic entry. The authorized generic (AG) version of Korlym now accounts for approximately $\text{two-thirds}$ of the business, coming in at an average discount of about $\mathbf{30\%}$ to Korlym's list price. Once a product receives FDA approval, manufacturing costs are capitalized to inventory, using the specific identification method for cost of inventory sold.

You should monitor the following areas closely:

• SG&A spending relative to revenue growth to assess operating leverage.
• The timing and outcome of the December 30, 2025, PDUFA date for relacorilant.
• Any updates on the ongoing appeal in the Teva patent litigation.
• The expected contribution from the second specialty pharmacy coming online in Q4 2025.

Finance: draft 13-week cash view by Friday.

Corcept Therapeutics Incorporated (CORT) - Canvas Business Model: Revenue Streams

Corcept Therapeutics Incorporated's revenue streams are currently concentrated but poised for significant diversification, primarily driven by the continued commercial performance of its sole marketed product and the anticipated regulatory approval of its lead pipeline candidate.

Product sales from Korlym for Cushing's syndrome remain the bedrock of the current revenue base. This drug, approved for hypercortisolism, is generating substantial top-line results, even while facing operational hurdles related to specialty pharmacy fulfillment earlier in the year. The momentum in the hypercortisolism segment is strong, marked by a record number of new prescriptions for Korlym in the third quarter of 2025.

For the full-year 2025, Corcept Therapeutics Incorporated has set its total revenue guidance in the range between $800 million and $850 million. This reflects a recent modification from a higher initial projection, attributed to capacity constraints with a previous specialty pharmacy vendor, which the company began addressing with new partnerships starting October 1st.

Here's a quick look at the recent financial performance grounding that guidance:

Metric	Amount/Range	Date/Period
Modified Full-Year 2025 Revenue Guidance	$800 million to $850 million	Full Year 2025
Q3 2025 Net Product Revenue (Solely Korlym)	$207.6 million	Q3 2025
Korlym Sales Year-to-Date	$559.3 million	First Nine Months of 2025
Cash and Investments	$524.2 million	September 30, 2025

The company is actively investing to support future growth, with third-quarter 2025 operating expenses reaching $197.4 million, up from $135.9 million in the same period last year, driven by increased spending for relacorilant launch preparations across its indications.

Potential milestone payments or royalties from future partnerships are not the primary current revenue driver, but they represent a secondary, non-guaranteed stream tied to the company's broader development efforts. Corcept Therapeutics Incorporated is expanding its oncology development programs, including new studies in earlier-stage ovarian, endometrial, cervical, and pancreatic cancers, which could lead to future collaboration revenue.

The most significant potential shift in the revenue profile comes from future product sales from relacorilant upon regulatory approval. This next-generation selective cortisol modulator has two key regulatory catalysts:

• NDA for hypercortisolism (Cushing's syndrome) with a Prescription Drug User Fee Act (PDUFA) date of December 30, 2025.
• NDA for platinum-resistant ovarian cancer with a PDUFA date of July 11, 2026.

Management projects that relacorilant in the hypercortisolism market alone has the potential to generate peak sales of $3 billion to $5 billion over the next three to five years, which would substantially diversify the revenue base away from Korlym.