Company: CORT
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022173
Chunk: 7

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
)Corporate bondsLevel 2$382,898 $593 $(217)$383,274 $373,440 $333 $(529)$373,244 Commercial paperLevel 24,886 2 — 4,888 9,771 6 (2)9,775 U.S. government agency securitiesLevel 232,993 — (25)32,968 7,999 — (2)7,997 U.S. Treasury securitiesLevel 159,826 29 — 59,855 84,458 27 (1)84,484 Money market fundsLevel 169,663 — — 69,663 98,436 — — 98,436 Total marketable securities$550,266 $624 $(242)$550,648 $574,104 $366 $(534)$573,936 We estimate the fair value of marketable securities classified as Level 1 using quoted market prices obtained from a commercial pricing service for these or identical investments. We estimate the fair value of marketable securities classified as Level 2 using inputs that may include benchmark yields, reported trades, broker/dealer quotes and issuer spreads.We periodically review our debt securities to determine if any of our investments is impaired due to the issuer’s poor credit or other reasons. If the fair value of our investment is less than our amortized cost, we evaluate quantitative and subjective factors – including, but not limited to, the nature of the security, changes in credit ratings and analyst reports concerning the security’s issuer and industry, and interest rate fluctuations and general market conditions – to determine whether an allowance for credit losses is appropriate.None of our investments, including those with unrealized losses, are impaired. Unrealized losses on our investments are due to interest rate fluctuations. We do not intend to sell investments that currently have unrealized losses and it is unlikely that we will sell any investment before recovery of its amortized cost basis, which may be at maturity. Accordingly, we have not recorded an allowance for credit losses for these investments.We classified accrued interest on our marketable securities of $4.4 million and $4.1 million as of March 31, 2025 and December 31, 2024, respectively, as prepaid and other current assets on our condensed consolidated balance sheets.As of March 31, 2025, all of our long-term marketable securities had original maturities of no more than