Company: CORT
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037005
Chunk: 2

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 comprehensive income$36,748 $35,314 $58,204 $62,725 

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) Six Months Ended June 30, 20252024Cash flows from operating activities:  Net income$55,696 $63,250 Adjustments to reconcile net income to net cash provided by operations:Stock-based compensation40,853 28,456 Accretion of marketable securities(3,005)(5,881)Depreciation and amortization571 196 Deferred income taxes(31,469)(21,126)Non-cash amortization of right-of-use asset360 181 Changes in operating assets and liabilities:Trade receivables(10,591)(12,714)Insurance recovery receivable related to Melucci litigation— 14,000 Inventory(4,021)(698)Prepaid expenses and other current assets(2,232)1,868 Other assets(1,693)(398)Accounts payable8,149 1,735 Accrued research and development expenses(4,819)642 Accrued and other liabilities6 7,907 Accrued Settlement related to Melucci litigation— (14,000)Long-term accrued income taxes1,593 1,630 Operating lease liability(331)(104)Net cash provided by operating activities49,067 64,944 Cash flows from investing activities:Purchases of property and equipment(161)(416)Proceeds from sales and maturities of marketable securities205,536 151,812 Purchases of marketable securities(138,419)(220,604)Net cash provided by (used in) investing activities66,956 (69,208)Cash flows from financing activities:Proceeds from stock option exercises, net of issuance costs10,975 2,288 Proceeds from purchases under the Employee Stock Purchase Program4,990 2,638 Repurchases of common stock in connection with Stock Repurchase Program(130,451)(3,954)Cash paid to satisfy statutory withholding requirement for net settlement of cashless option exercises and vesting of restricted stock grants(28,251)(3,665)Net cash used in financing activities(142,737)(