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3 Biopharmaceutical Stocks Bucking the Sell-OffCorcept Therapeutics NASDAQ: CORT reported second-quarter 2026 revenue of $256.1 million, up 32% from the prior-year period, as sales from its Cushing’s syndrome franchise increased and its newly launched ovarian cancer therapy LIFYORLI contributed $47.6 million in its first quarter of availability.

Net income rose to $43 million from $35 million a year earlier. Chief Financial Officer Atabak Mokari said operating expenses were flat compared with the first quarter, while cash and investments totaled $545 million as of June 30.

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The company raised its full-year 2026 revenue guidance to a range of $1.1 billion to $1.2 billion. Mokari said the updated outlook reflects strength in both Corcept’s endocrinology and oncology businesses.

LIFYORLI Launch Drives Oncology Growth Corcept’s LIFYORLI, approved by the FDA on March 25 for platinum-resistant ovarian cancer, generated $47.6 million in revenue after the company began selling the treatment April 1. Roberto Vieira, president of Corcept’s oncology division, described the launch as one of the strongest for an oncology medication.

Vieira said more than 1,300 patients have started treatment with LIFYORLI and more than 1,000 physicians have prescribed it to at least one patient. He said demand has come from academic and non-teaching hospitals as well as community oncology clinics.

According to the company, more than 70% of combined Medicare, Medicaid and commercial insurance lives had formal coverage policies for LIFYORLI in place as of the call. The National Comprehensive Cancer Network listed the therapy as a preferred regimen 15 days after its approval, Corcept said.

Vieira said the company continues to add patients weekly and is seeking to expand use among additional physicians and practices. He said Corcept expects LIFYORLI’s U.S. annual revenue in platinum-resistant ovarian cancer alone to exceed $1 billion as adoption grows.

In its pivotal ROSELLA study, LIFYORLI combined with nab-paclitaxel chemotherapy met both primary endpoints, according to Chief Executive Officer Joe Belanoff. He said the combination significantly delayed disease progression and extended overall survival compared with nab-paclitaxel alone. The company reported a 35% reduction in the risk of death, corresponding to a hazard ratio of 0.65 and a P value of 0.0004.

Cushing’s Syndrome Demand and Relacorilant Regulatory Update Korlym and authorized generic product revenue totaled $208.6 million during the quarter. Sean Maduck, president of Corcept’s endocrinology division, said the company recorded a record number of new prescriptions, first-time prescribers and patients receiving its Cushing’s syndrome medications.

Maduck attributed growth to increased physician awareness of hypercortisolism, which can contribute to difficult-to-treat diabetes and resistant hypertension. He cited the company’s CATALYST and MOMENTUM studies, which found hypercortisolism in portions of patients screened for those conditions.

In response to analyst questions, Maduck said the specialty-pharmacy transition is behind the company and that second-quarter growth was not primarily driven by clearing a backlog. Rather, he said performance reflected continued service of existing patients and a record number of new enrollments.

Belanoff said the FDA accepted Corcept’s resubmitted new drug application for relacorilant in Cushing’s syndrome and assigned a Prescription Drug User Fee Act date of Dec. 17, 2026. Corcept resubmitted the application June 17 after the FDA requested additional analyses of the data from the company’s original application during an April meeting.

The application is supported by the Phase III GRACE trial and evidence from the Phase III GRADIENT trial, a long-term extension study and earlier development work, Belanoff said. He said the company believes relacorilant demonstrated durable improvement in signs and symptoms of Cushing’s syndrome without certain serious adverse events associated with currently approved medications.

Pipeline Studies Continue Across Cancer, MASH and ALS Corcept is evaluating relacorilant with chemotherapy in several solid tumors. Belanoff said one arm of the BELLA study in platinum-resistant ovarian cancer is expected to produce results this year, while additional BELLA arms in platinum-sensitive ovarian cancer and endometrial cancer, along with the STELLA cervical cancer trial and TRIDENT first-line pancreatic cancer trial, are expected to report results by the end of 2027.

The company also initiated the Phase Ib SYNERGY study of nenicorilant with nivolumab across a range of solid tumors, with results expected by the end of next year.

Outside oncology, Corcept said its 175-patient Phase IIb MONARCH study of miricorilant in metabolic dysfunction-associated steatohepatitis, or MASH, has completed enrollment and is expected to produce data later this year. Positive results could support advancement to Phase III, Belanoff said.

For ALS, the company is conducting a dose-titration study of dazucorilant to improve gastrointestinal tolerability ahead of a planned pivotal trial expected to begin early next year. Belanoff cited Phase II DAZALS results showing reduced risk of death among patients receiving the 300-milligram dose, while noting that non-serious gastrointestinal distress accounted for most treatment discontinuations.

About Corcept Therapeutics (NASDAQ:CORT)Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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Chief Financial Officer Mokari Atabak reported the sale of 40,000 shares of Corcept Therapeutics Incorporated (CORT +1.25%) on July 15, 2026, according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$3.5 millionShares sold40,000 sharesPost-transaction shares (directly held)16,130 sharesPost-transaction value$1.44 millionTransaction value based on SEC Form 4 weighted average sale price ($87.71); post-transaction value based on July 15, 2026 market close ($89.57).

Key questionsHow was the transaction structured and executed?
Mokari Atabak performed a "cashless" exercise of 40,000 stock options. All resulting shares were sold on the same day at a weighted average price of $87.71, allowing the executive to realize gains without an initial cash outlay for the exercise.What is the executive's remaining financial exposure to the company?
Following this transaction, the Chief Financial Officer retains direct ownership of 16,130 shares of common stock. However, his total economic exposure remains substantial through the holding of close to 180,000 derivative securities (options), which represent a larger equity position than his direct common stock holdings.How has the stock performed leading up to this execution?
The transaction occurred after a period of positive momentum for the pharmaceutical company, with shares delivering a 25% return over the 12 months ending on the July 15, 2026 transaction date. As of the July 16, 2026 market close, the stock was priced at $89.72 per share.Does the timing of this sale suggest a discretionary decision?
No, the timing and volume of this sale were predetermined by a Rule 10b5-1 trading plan established in December 2025. Such plans are designed to allow insiders to sell shares at set intervals or price targets to avoid concerns regarding the use of non-public information.Company OverviewMetricValueShare Price (as of market close 2026-07-16)$89.72Market Capitalization$9.6 billionRevenue (TTM)$769.1 millionNet Income (TTM)$47.3 millionCompany SnapshotCorcept Therapeutics develops and commercializes pharmaceutical treatments for serious metabolic, oncological, and neuropsychiatric disorders, with Korlym (mifepristone) tablets serving as its primary commercial product for treating endogenous Cushing's syndrome in adult patients.The company generates revenue through the direct commercialization of its proprietary pharmaceutical products in the United States market, leveraging its specialized expertise in addressing rare and serious medical conditions.Corcept targets healthcare providers and patients within specialty care settings, focusing on individuals diagnosed with serious endocrine and metabolic disorders who require targeted pharmaceutical interventions.Corcept Therapeutics is a specialized pharmaceutical company with a market capitalization of $9.6 billion, generating TTM revenues of $769.1 million and demonstrating profitability with net income of $47.9 million. The company maintains a focused commercial strategy centered on its lead therapeutic asset, Korlym, which addresses a significant unmet medical need in the treatment of endogenous Cushing's syndrome. With operations headquartered in the San Francisco Bay Area, Corcept has established itself as a key player in the specialty pharmaceutical sector, delivering sustainable growth as evidenced by its 25% one-year stock price appreciation.

What this transaction means for investorsThe plan behind this sale was adopted in early December 2025, the same month (and just weeks before) Corcept's stock lost half its value in a single session. Setting a selling schedule near the wreckage of a 50% crash, then watching it execute at $87.71 after the shares more than doubled, is an important reminder that these plans are pre-arranged and don’t reflect discretionary decision-making on a sale-by-sale basis. It’s also important to note he has 16,130 shares held outright against nearly 180,000 options. That's a finance chief whose upside is overwhelmingly leveraged, which cuts both ways in a stock this volatile.

The recovery he sold into came from the FDA approving relacorilant for ovarian cancer, where it now sells as Lifyorli, months after rejecting the same drug for Cushing's syndrome. First-quarter revenue reached $164.9 million, and management raised full-year guidance to as much as $1.05 billion. For long-term investors, that options-heavy position is the thing to sit with. It means the executive closest to the numbers is paid on the stock climbing, not on it holding steady.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Corcept Therapeutics. The Motley Fool has a disclosure policy.