What Happened?

Shares of biopharma company Corcept Therapeutics (NASDAQ: CORT) jumped 7.7% in the afternoon session after it submitted a Marketing Authorization Application to the European Medicines Agency for its ovarian cancer treatment, relacorilant. 

This regulatory filing in Europe was based on positive results from the company's pivotal Phase 3 ROSELLA trial and Phase 2 studies. In these trials, patients with platinum-resistant ovarian cancer who received relacorilant combined with nab-paclitaxel experienced improved progression-free and overall survival compared to those who received nab-paclitaxel alone. The company also noted the treatment was well-tolerated. In addition to the European submission, Corcept previously filed an application with the U.S. Food and Drug Administration (FDA) for the same treatment, which is currently under review.

Is now the time to buy Corcept? Access our full analysis report here.

What Is The Market Telling Us

Corcept’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 5 days ago when the stock dropped 12.3% after reports of a significant stock sale by a top executive surfaced. The company's Chief Development Officer, William Guyer, sold 20,000 shares for a total of approximately $1.8 million in a transaction dated October 7. This sale was noteworthy as it reduced the executive's ownership in the company by nearly 80%. While the transaction was part of a pre-arranged trading plan established in the previous year, large sales by high-level insiders can sometimes cause concern among investors about a company's future outlook.

Corcept is up 57.3% since the beginning of the year, but at $78.63 per share, it is still trading 31.2% below its 52-week high of $114.22 from March 2025. Investors who bought $1,000 worth of Corcept’s shares 5 years ago would now be looking at an investment worth $4,339.

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