Shares of Corcept Therapeutics Incorporated (CORT) jumped over 14% on Tuesday after the company late-stage trial of relacorilant in patients with hypercortisolism met primary endpoint.
CORT is currently trading at $31.49, up $3.97 or 14.41%, on the Nasdaq. The stock opened its trading at $32.12 after closing Friday at $27.52. The stock has traded between $20.84 and $34.28 in the past 52-week period.
Corcept Therapeutics announced that GRACE, the Phase 3 trial of its proprietary selective cortisol modulator relacorilant in patients with hypercortisolism (Cushing's syndrome), met its primary endpoint.
"The data from GRACE make a compelling case for the use of relacorilant in patients with endogenous hypercortisolism. That patients experienced clinically significant improvements in hypertension, hyperglycemia and the other signs and symptoms of Cushing's syndrome, without significant safety burden, is greatly encouraging for physicians and the patients they seek to help," said Rosario Pivonello, MD, PhD, Principal Investigator of the GRACE study and Professor of Endocrinology at Università Federico II di Napoli, Italy.
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