Corcept Therapeutics Incorporated (NASDAQ:CORT) Q1 2024 Earnings Call Transcript

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Sean Maduck: I would like to add to that too, just to add to that, because while we are doing studies in ovarian cancer and prostate cancer and adrenal cancer, our vision really is to establish relacorilant as the agent that can really synergize with many different chemotherapy agents by adding efficacy, but not adding any toxicity. And we fully plan to explore broader applications of a drug like relacorilant in cancer throughout the lifecycle management plan. It’s been on our minds internally with the addition of our new President of Oncology, Roberto Vieira. I have been partnered in looking at all the various different types of studies and where we should be investing our research dollars in. So, you will see a more broad plan in the coming months throughout this year.

Swayampakula Ramakanth: Great, appreciate the comments. Thank you, gentlemen.

Joe Belanoff: Thanks RK.

Operator: Thank you. And one moment for our final question. And our final question of the day will be coming from Joon Lee of Truist. Your line is open.

Unidentified Analyst: Hi. This is Jeremy for Joon. Congrats on the quarter and thanks for taking our questions. Just what incrementally changed from your initial guidance inflow that led to the guidance raise range, and there is generic impact baked into the guidance. And then just quick follow-up, patients are enrolled in the double-blind portion of the study, which we will be seeing data in June. Thanks.

Joe Belanoff: Okay. I think I caught both of your questions. I am going to give the first one to Sean.

Sean Maduck: Thanks Jeremy. So, our revenue guidance will always consider all the information that we have in our best estimates going forward. And our range includes a multitude of factors including generic impact. And the range from earlier in the year to now is driven by more physicians prescribing Korlym and more patients taking Korlym.

Joe Belanoff: And the second question, I think was just that numbers question. How many…?

Unidentified Analyst: Yes, correct.

Joe Belanoff: So, how many patients were in are going to be on the randomize withdrawals set, okay, so we haven’t publicly disclosed that, but I will tell you that we have 62 patients who are in the randomized withdrawal phase of the study, and that’s what will be the basis for our trial with a mixture of those with hypertension, or diabetes and or having both.

Unidentified Analyst: Thank you.

Joe Belanoff: Okay. I think that concludes our questions. Thank you very much of course that this becomes very, very much more complex than it was years ago. And I appreciate you really trying to capture all the information that we have sent to you. See you next quarter.

Operator: This concludes today’s conference call. Thank you all for joining. You may now disconnect.

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