Corcept Therapeutics (CORT) shares skyrocketed 25.20% over the past 24 hours, with the bulk of the gain coming in after-hours trading following the company's second-quarter earnings release. The stock surged as investors cheered results that crushed Wall Street expectations.

The dramatic move was fueled by a massive earnings beat. Corcept reported Q2 earnings per share of $0.36, far above the analyst consensus estimate of approximately $0.00 to $0.02. Revenue climbed 31.7% year-over-year to $256.1 million, easily surpassing the Street estimate of around $220 million. The strong performance was driven by the continued commercial success of its flagship product Korlym and the successful launch of newly approved Lifyorli, with over 1,300 patients starting treatment since its FDA approval in March.

Adding to the bullish sentiment, Corcept raised its full-year 2026 revenue guidance to a range of $1.1 billion to $1.2 billion, up from the prior forecast of $950 million to $1.05 billion and well above the FactSet consensus estimate of $999.5 million. The company also highlighted progress in its pipeline, including the resubmission of its New Drug Application for relacorilant for Cushing's syndrome, with an FDA decision expected by December 2026.