FDA Overcomes Setback, Approves Ovarian Cancer Drug... U.S. Bio Executive Bets Billions on Company Stock

Corcept Therapeutics Incorporated (CORT) announced on March 25 that, following FDA approval of its ovarian cancer treatment Lifyorli, Director Leonard G. Baker Jr. significantly increased his direct and indirect holdings by purchasing approximately $3.3 million worth of company stock (mid-4 billion KRW) on the open market on March 17. Lifyorli, a selective glucocorticoid receptor antagonist used in adults with platinum-resistant epithelial ovarian cancer in combination with nab-paclitaxel, received FDA approval after its Phase III ROSELLA trial showed a 35% reduction in the risk of death and a 30% reduction in the risk of disease progression, improving both overall survival and progression-free survival. On February 27, the company’s Chief Business Officer was granted stock options for 140,000 shares—valued at roughly $5 million (high-6 billion KRW)—which will vest monthly over the next four years.

In US markets, Corcept Therapeutics shares jumped more than 30% in a single day following the Lifyorli approval, drawing investor interest in the fact that the approval timeline was accelerated by over three months compared to initial expectations. However, the stock had previously plunged by around 60% since November 2025, impacted by an FDA refusal letter for the relacorilant NDA for Cushing’s syndrome and a litigation loss related to generic entry from competitor Teva.

Headquartered in Redwood City, California, Corcept Therapeutics is a US biopharmaceutical company specializing in selective cortisol modulators that target cortisol regulation. The company has historically generated revenue from Korlym, its Cushing’s syndrome treatment. The approval of Lifyorli marks the first instance of the relacorilant series expanding its indications from endocrine disorders into oncology, and it is expected to influence the upcoming EMA review in Europe as well as the development of other solid-tumor indications.