CCORTCorcept Therapeutics Incorporated

Corcept treats a rare hormonal disorder and is trying to apply the same mechanism in oncology.

The lead drug blocks the action of cortisol in a syndrome where the body produces it in excess. The condition is rare, diagnosed late, and treatments were few — the company took that niche and remains profitable, which is unusual for a small pharmaceutical company.

What follows depends on two things: a next-generation drug without the first one's side effects, and applying the same mechanism in ovarian cancer, where early data are encouraging. A constant background is litigation with generic manufacturers, since the active substance has long been known. Risks: patent protection, trial outcomes and the narrowness of the current market. The company pays no dividend.