On July 30, Corcept Therapeutics rose over 26% in pre-market trading. The surge was driven by the company's Q2 earnings release, which dramatically exceeded market expectations. Corcept reported EPS of $0.36, far surpassing the analyst consensus estimate of $0.02, representing a 24.14% year-over-year increase. Revenue reached $256.1 million, up from $194.4 million a year earlier, beating estimates of approximately $221 million by roughly 16%.

The outperformance was primarily attributed to the commercial progress of core product Korlym and newly approved drug Lifyorli. Additionally, the company raised full-year revenue guidance to $1.1 billion-$1.2 billion, significantly above its prior forecast of $950 million-$1.05 billion and the FactSet consensus of $999.5 million. The company also resubmitted its New Drug Application for Relacorilant for Cushing's syndrome treatment in June. Canaccord Genuity raised its price target from $135 to $150, further boosting market confidence.

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