CORCEPT THERAPEUTICS INC Q1 FY2026 earnings call

Endocrinology Division - Demand for medications continues to increase with record new prescriptions and patients. Set records for new patients starts in March and April. Catalyst and momentum trials show hypercortisolism is more prevalent in certain diseases, changing medical practice. Expect Cushing syndrome business to grow to at least $2B annual revenue by end of decade. ### Oncology Division - FDA approval of Lifioly for platinum-resistant ovarian cancer ahead of PDUFA date. Pivotal trial Rozella met primary endpoints with survival benefit. Commercial team ready for launch, strong early results with enrollments and prescriptions. Lifioly included in NCCN guidelines quickly. Exploration of cortisol modulation in other solid tumors and combinations with anti-cancer therapies.

Revenue in first quarter of 2026 was $164.9 million, compared to $157.2 million in prior year period. Endocrinology Division: Demand for medications continues to increase with record new prescriptions, new patients starts, but full impact not reflected in revenue due to insurance reauthorization procedures, new patients starting with less revenue initially, and pharmacy prior authorization backlog. Oncology Division: FDA approved Lifioly for platinum-resistant ovarian cancer, with strong early results and expectations of exceeding a billion dollars in annual revenue in US by end of decade.

Our revenue in first quarter of 2026 was $164.9 million, compared to $157.2 million in prior year period. We have increased our 2026 revenue guidance to $950 million to $1.05 billion.

Statements during this call are forward-looking statements subject to risks and uncertainties which might cause actual results to be materially different from those such statements express or imply. Risks and uncertainties described in annual report on Form 10-K and quarterly reports on Form 10-Q available at SEC's website.

Q: With the updated guidance, should we assume that it's mostly Relacorlin contribution? Have any assumptions changed on Coralim?

A: At this point, endocrine business represents bulk of guidance range. Updates in oncology with approval, published results, and inclusion in NCCN guidelines.

Q: Can you talk to positioning versus Keytruda in practice?

A: Leafy Orly is approved for all-comer, Keytruda for PD-L1 population. Leafy Orly's regimen has strong survival data, safety, tolerability, and convenience leading to physician preference.

Q: How does Nenacorland differ from Rela?

A: Every selective glucocorticoid receptor antagonist has unique properties. Nenacorland has shown strong activity in animal models with immunotherapy, and Phase I study will guide further development.

Q: What proportion of platinum-resistant ovarian cancer prescribers do you expect to convert to LeFiori?

A: Targeting 5,000 physicians in US, expect very large majority to become prescribers with strong uptake.

Q: On DASLs Phase III design, what about 300 milligram dose?

A: Focus on 300 milligrams as two-year overall survival benefit is encouraging. Phase 3 study designed to replicate results and confirm survival benefit.

Q: Are you looking to add one more specialty pharma?

A: Currently Curant has done nice job, but eventually business will need more volume support. Plan to bring in additional support in fourth quarter this year.