Company: CORT
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037005
Chunk: 57

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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 2025 was primarily due to increased manufacturing and distribution costs. The increase in cost of sales as a percentage of revenue for the six months ended June 30, 2025 was due to increased manufacturing and distribution costs, offset by a one-time $0.5 million write-off of API that was scrapped during the manufacturing phase in the three months ended March 31, 2024, which did not recur in 2025.

Research and development expense – Research and development expense includes the cost of (1) recruiting and compensating development personnel, (2) clinical trials, (3) manufacturing investigational drug product, (4) preclinical studies, (5) drug discovery research and (6) the development of new drug formulations and manufacturing processes.

Research and development expense was $60.5 million and $121.2 million for the three and six months ended June 30, 2025, respectively, compared to $58.7 million and $117.3 million for the comparable periods in 2024. The increases were primarily due to increased employee compensation expenses and expenses related to the advancement of our development programs, partially offset by decreased expenses related to development programs that are nearing completion. 

Three Months Ended June 30,Six Months Ended June 30, 2025202420252024(in thousands)Development programs:  Oncology$11,061 $11,545 $19,360 $29,230 Hypercortisolism (Cushing’s syndrome)20,334 14,845 38,307 25,657 Metabolic diseases11,647 8,519 22,731 19,508 Pre-clinical and early-stage selective cortisol modulators and ALS4,952 11,775 13,654 20,445 Unallocated activities, including manufacturing and regulatory activities7,080 7,624 15,436 14,053 Stock-based compensation5,397 4,437 11,718 8,358 Total research and development expense$60,471 $58,745 $121,206 $117,251 

It is difficult to predict the timing and cost of development activities, which are subject to many uncertainties and risks, including inconclusive or negative results, slow patient enrollment, adverse side effects and difficulties in the formulation or manufacture of study drugs and lack of drug-candidate efficacy. In addition, clinical development is subject to government oversight and regulations that may change without