Company: CORT
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048841
Chunk: 110

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 110
---
, (3) manufacturing investigational drug products, (4) preclinical studies, (5) drug discovery research and (6) the development of new drug formulations and manufacturing processes.

Research and development expense was $68.8 million and $190.1 million for the three and nine months ended September 30, 2025, respectively, compared to $59.3 million and $176.6 million for the comparable periods in 2024. The increases were primarily due to increased expenses related to the advancement of our development programs and employee compensation expenses, partially offset by decreased expenses related to development programs that are nearing completion. 

Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024(in thousands)Development programs:  Oncology$15,735 $13,007 $35,095 $42,237 Hypercortisolism (Cushing’s syndrome)26,158 14,273 64,465 39,930 Metabolic diseases7,351 10,406 30,082 29,914 Pre-clinical and early-stage selective cortisol modulators and ALS3,412 9,583 17,066 30,028 Unallocated activities, including manufacturing and regulatory activities10,351 7,407 25,787 21,460 Stock-based compensation5,839 4,660 17,557 13,018 Total research and development expense$68,846 $59,336 $190,052 $176,587 

It is difficult to predict the timing and cost of development activities, which are subject to many uncertainties and risks, including inconclusive or negative results, slow patient enrollment, adverse side effects and difficulties in the formulation or manufacture of study drugs and lack of drug-candidate efficacy. In addition, clinical development is subject to government oversight and regulations that may change without notice. We expect our research and development expense to be higher in 

23

2025 than in 2024 as our clinical programs advance and we initiate new clinical trials. Research and development spending in future years will depend on the outcome of our pre-clinical and clinical trials and our development plans.

Selling, general and administrative expense – Selling, general and administrative expense includes (1) recruiting and compensating commercial and administrative personnel, (2) the cost of vendors supporting commercial activities and (3) legal and accounting fees.

Selling, general and administrative expense was $124