Bull case
Corcept Therapeutics is positioned favorably because its core Cushing’s franchise is reaccelerating after the pharmacy transition, with 1Q26 revenue of approximately $165M and management lifting 2026 guidance to a midpoint of $1B on record Korlym starts in March and April. The outlook is further strengthened by Lifyorli’s early launch and rapid physician adoption in platinum-resistant ovarian cancer, where more than 200 unique prescribers wrote scripts in April and NCCN quickly listed the regimen as preferred, while the company’s model projects sales starting in 2Q26 at $23M and growing to $1.6B in 2034 from $167M in FY2026. Relacorilant also adds meaningful pipeline value, as CHMP recommended EU approval and the ROSELLA trial showed superior mPFS and mOS versus chemotherapy alone, while the planned NDA resubmission for Cushing’s could unlock another major growth driver.