MENLO PARK, Calif. (AP) — Corcept Therapeutics Inc. (CORT) on Thursday reported first-quarter profit of $18.3 million.
The Menlo Park, California-based company said it had net income of 15 cents per share. Earnings, adjusted for non-recurring costs, were 20 cents per share.
The drug developer posted revenue of $64.8 million in the period.
Corcept shares have declined 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.41, a fall of 33% in the last 12 months.