Company: CORT
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048841
Chunk: 59

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 59
---
 a percentage of revenue was 2.2 percent and 1.9 percent for the three and nine months ended September 30, 2025, respectively, compared to 1.6 percent for each of the comparable periods in 2024. The increases in cost of sales as a percentage of revenue were primarily due to the write-off of $1.0 million of scrapped inventory in the three months ended September 30, 2025 and increased manufacturing and distribution costs.

Research and development expense – Research and development expense includes the cost of (1) recruiting and compensating development personnel, (2) clinical trials, (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