Company: CORT
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048841
Chunk: 2

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 income$19,718 $48,700 $77,922 $111,425 

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

CORCEPT THERAPEUTICS INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands) Nine Months Ended September 30, 20252024Cash flows from operating activities:  Net income$75,364 $110,463 Adjustments to reconcile net income to net cash provided by operations:Stock-based compensation63,732 44,558 Accretion of marketable securities(4,010)(8,747)Depreciation and amortization860 514 Deferred income taxes(22,355)(36,333)Non-cash amortization of right-of-use asset548 362 Changes in operating assets and liabilities:Trade receivables(15,653)(18,594)Insurance recovery receivable related to Melucci litigation— 14,000 Inventory(7,964)383 Prepaid expenses and other current assets(15,693)8,462 Other assets(1,439)(432)Accounts payable19,070 1,086 Accrued research and development expenses(5,546)6,406 Accrued and other liabilities17,164 27,531 Accrued Settlement related to Melucci litigation— (14,000)Long-term accrued income taxes48 2,540 Operating lease liability(578)38 Net cash provided by operating activities103,548 138,237 Cash flows from investing activities:Purchases of property and equipment(161)(2,051)Proceeds from sales and maturities of marketable securities257,536 332,545 Purchases of marketable securities(175,774)(443,738)Net cash provided by (used in) investing activities81,601 (113,244)Cash flows from financing activities:Proceeds from stock option exercises, net of issuance costs13,008 3,268 Proceeds from purchases under the Employee Stock Purchase Program7,160 3,927 Repurchases of common stock in connection with Stock Repurchase Program(172,915)(15,664)Cash paid to satisfy statutory withholding requirement for net settlement of cashless option exercises and vesting of restricted stock grants(36,403)(15,316)Net cash used in financing activities(189