Corcept Therapeutics executives sell $5 million in stock

Three top executives at Corcept Therapeutics sold shares totaling approximately $5 million on October 1 and 2. The sales occurred as the company's stock price approached its yearly high.

Sean Maduck, President of Corcept Endocrinology, sold 25,000 shares at prices between $115.54 and $116.55, totaling roughly $2.9 million. Joseph Douglas Lyon, Chief Accounting & Technology Officer, sold 10,000 shares for approximately $1.16 million, while Roberto Wandenkolk Vieira, President of Oncology, sold 8,333 shares for nearly $970,000.

The transactions were conducted under 10b5-1 trading plans, which schedule sales in advance to avoid conflicts with short-term stock performance assessments. Despite the insider selling, the company reported strong financial growth, with second-quarter revenue reaching $256.1 million, a 32 percent increase year-over-year, exceeding market expectations.