Company: CORT
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037005
Chunk: 59

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 us to relinquish certain rights in our product candidates.

As of June 30, 2025, we had cash, cash equivalents and marketable securities of $515.0 million, consisting of cash and cash equivalents of $102.7 million and marketable securities of $412.3 million, compared to cash, cash equivalents and marketable securities of $603.2 million, consisting of cash and cash equivalents of $127.7 million and marketable securities of $475.5 million as of December 31, 2024.

The cash in our bank accounts and our marketable securities could be reduced or our access to them restricted if the financial institutions holding them were to fail or severely adverse conditions were to arise in the markets for public or private debt securities. We have never experienced a material lack of access to cash or material realized losses.

Net cash provided by operating activities was $49.1 million for the six months ended June 30, 2025, compared to $64.9 million for the comparable period in 2024. The decrease was primarily due to lower net income resulting from higher operating expenses to support increased sales and marketing activities.

Net cash provided by investing activities was $67.0 million for the six months ended June 30, 2025, compared to net cash used in investing activities of $69.2 million for the comparable period in 2024. The increase was primarily due to a higher allocation of cash proceeds from maturities of marketable securities towards cash equivalents to purchase shares in connection with our Stock Repurchase Program during the six months ended June 30, 2025.

Net cash used in financing activities was $142.7 million for the six months ended June 30, 2025, compared to $2.7 million for the comparable period in 2024. In the six months ended June 30, 2025, we spent $158.7 million acquiring shares of our common stock, comprised of $130.5 million pursuant to our Stock Repurchase Program, $7.7 million to satisfy tax withholding requirements from vesting of restricted stock grants and $20.5 million acquiring shares of our common stock in connection with the net exercise of employee and director stock options, offset by $5.0 million received in connection with our ESPP and $11.0 million net cash received from the exercise of stock options. In the comparable period in 2024, we spent $7.6 million acquiring shares of our common stock, comprised of $