Corcept Therapeutics (CORT) stock plunged 5.32% in pre-market trading on Thursday, following the company's Q4 2024 earnings call. The decline appears to be driven by management's comments related to the timeline for the company's pivotal ROSELLA ovarian cancer study.

During the call, Chief Development Officer William Guyer disclosed that although the company has reached the required number of progression-free survival (PFS) events in the ROSELLA study, it will still take some time to compile and analyze the full data set from all 381 patients across 120 investigator sites. As a result, the company now expects to report top-line PFS and overall survival (OS) results by the end of this quarter, instead of providing an earlier update on just the PFS data.

While Guyer emphasized that the addition of OS as a dual primary endpoint gives ROSELLA "two shots on goal" and increases the odds of a successful trial, investors appeared disappointed by the delayed timeline. Corcept had previously guided for ROSELLA results in "just a few weeks," fueling expectations for an earlier readout that could have accelerated the potential approval and commercial launch of relacorilant in ovarian cancer.