Company: CORT
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048841
Chunk: 7

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 broad range of serious disorders.We were incorporated in the State of Delaware in May 1998. Our headquarters are located in Redwood City, California.Basis of PresentationWe have prepared the following in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X: (i) condensed consolidated balance sheet as of September 30, 2025, (ii) condensed consolidated statements of income, comprehensive income and stockholders’ equity for the three- and nine-month periods ended September 30, 2025 and 2024 and (iii) condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2025 and 2024. These do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation (which in the applicable periods consist only of normal, recurring adjustments) have been included. Operating results for the three- and nine-month periods ended September 30, 2025 are not necessarily indicative of the results for the remainder of 2025 or any other period. These financial statements and notes should be read in conjunction with the financial statements for the year ended December 31, 2024 included in our Annual Report on Form 10-K. The December 31, 2024 balance sheet was derived from audited financial statements at that date.Segment ReportingBased on the way we organize our business, make decisions, allocate resources and assess performance, we have determined that Corcept has a single reportable segment – the discovery, development and commercialization of pharmaceutical products. Our Chief Executive Officer, Joseph K. Belanoff, M.D., is the Chief Operating Decision Maker (“CODM”), with ultimate responsibility for its activities and performance. He bases his decisions as CODM on regular reviews of our consolidated balance sheets (including cash, cash equivalents and investments and liabilities), statements of income (including revenue, expense and net income), statements of cash flows, and regular reviews of expenses that are consistent with those disclosed in our consolidated statements of income.There have been no material changes to the significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2024.Recently Adopted Accounting PronouncementsIn December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 202