Shares of Corcept Therapeutics (NASDAQ: CORT) tumbled 7.24% on Tuesday following the release of the company's third-quarter financial results. The biopharmaceutical firm, known for its cortisol-modulating therapeutics, reported mixed earnings that fell short of investor expectations, particularly on the revenue front.

Corcept's Q3 revenue came in at $207.638 million, missing analyst estimates of $218.526 million by 4.98%. Despite representing a 13.75% increase from the same period last year, the revenue shortfall raised concerns among investors. The company's earnings per share (EPS) of $0.16 beat the consensus estimate of $0.14, but still marked a significant 60.98% decrease from the $0.41 per share reported in the same quarter of the previous year.

Adding to investor worries, Corcept revised its full-year 2025 revenue guidance downward to $800-850 million from the previous range of $850-900 million. This adjustment, coupled with the Q3 revenue miss, likely contributed to the sharp sell-off. CEO Joseph K. Belanoff attributed the revenue impact to capacity constraints at their previous specialty pharmacy vendor, noting that new pharmacies have been added to meet increasing demand for their hypercortisolism treatment, Korlym. As the market digests these mixed results, investors will be closely watching how Corcept plans to address the revenue shortfall and improve profitability in the coming quarters.