Company: CORT
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022173
Chunk: 0

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
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ITEM 1.  FINANCIAL STATEMENTS

CORCEPT THERAPEUTICS INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

March 31,2025December 31,2024 (Unaudited)(See Note 1)ASSETS  Current assets:  Cash and cash equivalents$89,819 $127,665 Short-term marketable securities232,944 255,669 Trade receivables, net of allowances61,819 53,976 Inventory14,368 12,412 Prepaid expenses and other current assets39,553 21,880 Total current assets438,503 471,602 Strategic inventory1,166 3,583 Operating lease right-of-use asset5,147 5,324 Property and equipment, net2,543 2,689 Long-term marketable securities248,041 219,831 Other assets6,610 6,610 Deferred tax assets, net144,445 130,914 Total assets$846,455 $840,553 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$27,947 $15,376 Accrued research and development expenses25,260 33,868 Accrued and other liabilities88,875 90,700 Short-term operating lease liability984 829 Total current liabilities143,066 140,773 Long-term operating lease liability5,851 6,107 Long-term accrued income taxes payable14,253 14,084 Total liabilities163,170 160,964 Commitments and contingencies (Note 4)Stockholders’ equity:Preferred stock— — Common stock137 136 Treasury stock(744,692)(696,173)Additional paid-in capital862,866 832,108 Accumulated other comprehensive income (loss)692 (217)Retained earnings564,282 543,735 Total stockholders’ equity683,285 679,589 Total liabilities and stockholders’ equity$846,455 $840,553 

The accompanying notes are an integral part of these condensed consolidated financial statements.

3

CORCEPT THERAPEUTICS INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(In thousands, except per share data)

Three Months Ended March 31,