CORT CORT

The price pays for

• The raised FY2025 revenue guidance of $950 million to $1.05 billion is fully reflected, as the company has already reported the Q2 beat that prompted the increase.
• The FDA approval of Lifyorli for ovarian cancer and its initial $47.6 million quarterly contribution are fully paid for, given the approval is now a matter of record.
• Continued growth of the existing Korlym franchise, including its demonstrated combination benefit with GLP-1 drugs for difficult-to-control Type 2 Diabetes, is already assumed in the baseline revenue trajectory.
• The 98% gross margin is fully priced in, as it is a demonstrated and stable characteristic of the current product mix.

It declines to pay for