The stock of Corcept Therapeutics (NASDAQ:CORT) surged by 94.9% during afternoon trading following the announcement that its Phase 3 trial (ROSELLA) successfully enhanced progression-free survival and overall survival rates in treating resistant ovarian cancer with a novel combination therapy consisting of Relacorilant and Nab-paclitaxel.

According to a press release from CORT, the treatment combination outperformed chemotherapy alone with Nab-paclitaxel and did not lead to increased side effects. The study results indicated that Relacorilant could be a promising option for patients with limited treatment options. Corcept plans to seek approval for this therapy in the United States and Europe by the year's end, a crucial step towards bringing the drug to market.

This positive outcome from the trial has validated Corcept's cancer treatment approach, highlighting Relacorilant as a potential breakthrough in cancer therapy.

Corcept's stock has experienced significant volatility, with 21 movements exceeding 5% in the past year. However, the substantial increase in stock value signals that this news has significantly impacted the market's perception of the company. The stock has risen by 114% since the beginning of the year, reaching a new 52-week high of $106.90 per share. Investors who purchased $1,000 worth of Corcept's shares five years ago would now see their investment valued at $8,981.

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