After 32% Surge, Another 5% Increase... Focus on U.S. Ovarian Cancer Drug Stocks

On the 1st, U.S. biotech firm Corcept Therapeutics (NASDAQ: CORT) closed at $42.46 on the Nasdaq, up 5.33%, swelling its market capitalization to roughly $4.5 billion (about KRW 6 trillion). Trading volume totaled approximately 1.46 million shares, above the norm, and market cap is estimated to have risen by about $250 million (around KRW 300 billion) in a single day.

Since the FDA approved its ovarian cancer therapy Lifyorli on March 25, Corcept’s share price has leapt more than 30%, and analysts at Truist and Wolfe Research have consecutively raised their ratings, extending the rally. However, past FDA setbacks, patent-dispute class-action lawsuits and controversy over a complete response letter leave short-term volatility risks on the table.

Based in Redwood City, California, Corcept Therapeutics develops cortisol-receptor modulators and currently markets Korlym for Cushing’s syndrome. With Lifyorli’s recent approval, the company is expanding its oncology and endocrine-disorder pipeline.