Company: CORT
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022173
Chunk: 12

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 year after the purchase date. Shares purchased pursuant to the ESPP and any matching shares may be held, sold or transferred in the employee’s sole discretion.As of March 31, 2025 and December 31, 2024, we had a liability of $7.4 million and $3.2 million, respectively, of stock-based compensation related to RSAs granted in connection with our ESPP in “Accrued and other liabilities” on our unaudited condensed consolidated balance sheet.Equity Awards OutstandingAs of March 31, 2025, we had 26.1 million stock options, 1.6 million RSAs and less than 0.1 million restricted stock units (“RSUs”) outstanding. As of December 31, 2024, we had 24.7 million stock options, 1.2 million RSAs and less than 0.1 million RSUs outstanding.Stock-based CompensationThe following table summarizes our stock-based compensation by financial statement classification:Three Months Ended March 31, 20252024 (in thousands)Capitalized stock-based compensation$144 $45 Cost of sales36 11 Research and development6,321 3,921 Selling, general and administrative15,473 9,317 Total stock-based compensation$21,974 $13,294 

7. Net Income Per Share

We compute our basic and diluted net income per share in conformity with the two-class method required for companies with participating shares. Under the two-class method, net income is determined by allocating net income between common stock and unvested RSAs. We compute basic net income per share by dividing our net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period. We compute diluted net income per share by dividing our net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period, including potentially dilutive stock options and unvested RSUs, less unvested RSAs. We use the treasury stock method to determine the number of dilutive shares of common stock resulting from stock options and unvested RSUs.

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The following table shows the computation of net income per share for each period:Three Months Ended March 31, 20252024 (in thousands)Numerator:  Net income attributable to common stockholders$20,288 $27,514 Denominator:Weighted-average shares used to compute basic net income per common share104,