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CORCEPT THERAPEUTICS ANNOUNCES SECOND QUARTER FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE EXHIBIT 99.1 MENLO PARK , Calif . ( July 29 , 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 hormone cortisol , today reported its results for the quarter ended June 30 , 2021 . . • Financial Results Revenue of $ 91.6 million , compared to $ 88.6 million in second quarter 2020 GAAP diluted net income of $ 0.21 per share , compared to $ 0.23 per share in second quarter 2020 Non - GAAP diluted net income of $ 0.30 per share , compared to $ 0.32 per share in second quarter 2020 • • Cash and investments of $ 471.6 million , compared to $ 454.8 million at March 31 , 2021 Reiterated 2021 revenue guidance of $ 355 - $ 385 million Second quarter 2021 revenue was $ 91.6 million , compared to $ 88.6 million in the second quarter of 2020. First quarter 2021 revenue was $ 79.4 million . Second quarter 2021 GAAP net income was $ 26.5 million , compared to $ 28.3 million in the second 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 second quarter was $ 38.2 million , compared to $ 39.7 million in the second quarter of 2020. A reconciliation of GAAP to non - GAAP net income is included below . Second quarter operating expenses were $ 59.6 million , compared to $ 53.3 million in the second quarter of 2020 , due to increased employee compensation expenses , commercial spending , spending on clinical trials in Cushing's syndrome and pre - clinical activities . Cash and investments were $ 471.6 million at June 30 , 2021 , compared to $ 454.8 million at March 31 , 2021. The balance at June 30 , 2021 reflects the acquisition of $ 30.8 million of common stock in the second quarter - 1.4 million shares pursuant to the company's stock repurchase program and 0.1 million shares in connection with the net exercise of stock options . Under the repurchase program's current terms , $ 127.6 million remains available for the purchase of shares . The company reiterated its 2021 revenue guidance of $ 355 - $ 385 million . " Diminishing COVID - 19 public health restrictions and the availability of safe and effective vaccines have allowed our commercial business to resume growing , ” said Joseph K. Belanoff , MD , Corcept's Chief Executive Officer . " Our second quarter results reflect the fact that physicians are seeing their patients more frequently , which allows them to diagnose and optimally treat those who have Cushing's syndrome . Provided COVID - 19 restrictions continue to abate - as we believe they will – we expect growth to continue . Korlym is an excellent treatment for hypercortisolism and there are many eligible patients who have yet to receive it . Our planned successor to Korlym , relacorilant , which is currently in its pivotal trial , promises to be an even better medication . " Clinical Development " We are enthusiastic about the potential of cortisol modulation to help treat many diseases , not just Cushing's syndrome , ” added Dr. Belanoff . “ Our programs in solid tumors , non - alcoholic steatohepatitis ( NASH ) and antipsychotic - induced weight gain ( AIWG ) continue to make progress . We are especially excited about our advancing platinum - resistant ovarian cancer program . Based on the statistically significant and clinically meaningful results of our 178 - patient , controlled Phase 2 trial , we plan to initiate a pivotal trial in the first quarter of next year . "