Corcept Therapeutics is a commercial-stage pharmaceutical company focused on modulating the effects of the hormone cortisol. Corcept's sole commercial product today is Korlym (mifepristone), which it has sold in the U.S. since 2012 to treat Cushing's syndrome — a condition caused by excess cortisol that damages virtually every organ system. Korlym works by blocking cortisol's binding to the glucocorticoid receptor, reducing the harmful effects of excess cortisol. In mid-2024, Corcept launched an authorized generic of Korlym at a roughly 30% discount to Korlym's list price, which now accounts for roughly 70-75% of volume. Corcept distributes through a specialty pharmacy network and as of Q3 2025 had approximately 3,250 paying patients on drug. Corcept's key growth thesis is that hypercortisolism is vastly underdiagnosed — its CATALYST study found roughly 1 in 4 patients with difficult-to-control type 2 diabetes have the condition — and it has expanded its sales force from 60 to a target of 175 clinical specialists to capitalize on this. Corcept's pipeline centers on relacorilant, a selective cortisol modulator that avoids Korlym's side effects. Corcept submitted an NDA for relacorilant in hypercortisolism, but received a Complete Response Letter from the FDA in December 2025. A separate NDA for relacorilant combined with nab-paclitaxel in platinum-resistant ovarian cancer was accepted by the FDA with a PDUFA date of July 2026. Corcept is also advancing miricorilant for MASH and dazucorilant for ALS.