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EXHIBIT 99.1 CORCEPT THERAPEUTICS PROVIDES CLINICAL UPDATE AND ANNOUNCES FIRST QUARTER 2021 FINANCIAL RESULTS • • • . . In a 178 - patient , controlled , Phase 2 trial , women with platinum resistant ovarian cancer who received relacorilant plus nab - paclitaxel experienced improved progression free survival ( PFS ) compared to women who received nab - paclitaxel alone , with comparable safety and tolerability ; planning underway for Phase 3 pivotal trial . In Phase 2 trial , patients with presumed nonalcoholic steatohepatitis ( NASH ) administered miricorilant experienced large , rapid reductions in liver fat Revenue of $ 79.4 million , compared to $ 93.2 million in first quarter 2020 GAAP diluted net income of $ 0.18 per share , compared to $ 0.25 per share in first quarter 2020 Non - GAAP diluted net income of $ 0.20 per share , compared to $ 0.34 per share in first quarter 2020 Cash and investments of $ 454.8 million , compared to $ 476.9 million at December 31 , 2020 Modified 2021 revenue guidance of $ 355 to $ 385 million MENLO PARK , Calif . ( May 6 , 2021 ) – Corcept Therapeutics Incorporated ( NASDAQ : CORT ) , a commercial - stage company engaged in the discovery and development of drugs to treat severe metabolic , oncologic and neuropsychiatric disorders by modulating the effects of the stress hormone cortisol , today reported its results for the quarter ended March 31 , 2021 . First quarter 2021 revenue was $ 79.4 million , compared to $ 93.2 million in the first quarter of 2020. The decrease in revenue in the first quarter was primarily due to the effects of the COVID - 19 pandemic on our business . First quarter operating expenses were $ 59.8 million , compared to $ 55.5 million in the first quarter of 2020 , due to increased spending on clinical trials in Cushing's syndrome and metabolic diseases and the formulation and manufacture of the company's proprietary selective cortisol modulators . First quarter 2021 GAAP net income was $ 23.5 million , compared to $ 30.1 million in the first quarter of 2020. Excluding non - cash expenses related to stock - based compensation and the utilization of deferred tax assets , together with related income tax effects , non - GAAP net income in the first quarter was $ 25.8 million , compared to $ 41.2 million in the first quarter of 2020. A reconciliation of GAAP to non - GAAP net income is included below . Cash and investments were $ 454.8 million at March 31 , 2021 , compared to $ 476.9 million at December 31 , 2020. The company repurchased 2.1 million shares of its common stock in the first quarter – 1.3 million shares for $ 33.5 million pursuant to the company's stock repurchase program and 0.8 million shares for $ 16.4 million in connection with the net exercise of stock options – at a total cost of $ 50.0 million . Under the stock repurchase program's currently authorized terms , $ 156.8 million remains available for the purchase of shares . - Corcept modified its 2021 revenue guidance to $ 355 - $ 385 million . Corcept anticipates positive cash flow for the foreseeable future . " The lingering effects of the spike in COVID - 19 in the fourth quarter of last year extended further into the first quarter than we anticipated , coloring our commercial results , " said Joseph K. Belanoff , MD , Corcept's Chief Executive Officer . " Many physicians are still not able to see their patients often enough to optimally diagnose and treat a complex disease such as Cushing's syndrome . Further , many patients introduced to Korlym during the pandemic have so far not reached their ideal dose , as many physicians are seeing their patients less frequently , particularly in person , and testing them less frequently , slowing optimal titration . " We expect these effects to diminish as COVID restrictions and fears diminish . The best treatment for Cushing's syndrome involves substantial and frequent engagement between patients and physicians , ” said Dr. Belanoff . “ Our modified 2021 revenue guidance assumes that pandemic - related obstacles will ease substantially in the third