Company: CORT
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037005
Chunk: 30

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 compensation expenses and sales and marketing activities to support commercialization of our existing and potential future products.

We expect our selling, general and administrative expense to be higher in 2025 than in 2024 due to increased commercial and administrative activities to support our increased sales and marketing efforts.

Interest and other income - Interest and other income was $5.0 million and $11.2 million for the three and six months ended June 30, 2025, respectively, compared to $6.0 million and $11.5 million for the comparable periods in 2024 and consisted primarily of interest income from marketable securities. The decreases were due to market-wide decreases in interest rates.

Income tax benefit (expense) - Income tax benefit was $3.5 million and $14.4 million for the three and six months ended June 30, 2025, respectively, compared to income tax expense of $6.1 million and $13.3 million for the comparable periods in 2024. The decreases in income tax expense were primarily due to increased stock compensation deductions and decreases in year-to-date pretax income.

Liquidity and Capital Resources

Since 2015, we have relied on revenues from the sale of our Products to fund our operations.

Based on our current plans and expectations, we expect to fund our operations and planned research and development activities over the next 12 months and beyond without needing to raise additional funds, although we may choose to raise additional funds for other reasons. If we were to raise funds, equity financing would be dilutive, debt financing could involve restrictive covenants and funds raised through collaborations with other companies may require us to relinquish certain rights in our product candidates.

As of June 30, 2025, we had cash, cash equivalents and marketable securities of $515.0 million, consisting of cash and cash equivalents of $102.7 million and marketable securities of $412.3 million, compared to cash, cash equivalents and marketable securities of $603.2 million, consisting of cash and cash equivalents of $127.7 million and marketable securities of $475.5 million as of December 31, 2024.

The cash in our bank accounts and our marketable securities could be reduced or our access to them restricted if the financial institutions holding them were to fail or severely adverse conditions were to arise in the markets for public or private debt securities. We have never experienced a material lack of access to cash or material realized losses.

Net cash provided by operating activities