Company: CORT
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008167
Chunk: 50

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 50
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 prevent or delay a change in our Board of Directors or our management, which our Board of Directors appoints. In addition, because we are incorporated in Delaware, we are governed by the provisions of Section 203 of the Delaware General Corporation Law. Section 203 may prohibit large stockholders, in particular those owning 15 percent or more of our outstanding voting stock, from merging or combining with us. These provisions in our charter and bylaws and under Delaware law could reduce the price that investors would be willing to pay for shares of our common stock.

Our officers, directors and principal stockholders, acting as a group, could significantly influence corporate actions.

As of February 18, 2025, our officers and directors beneficially owned approximately 21 percent of our common stock. Acting together, these stockholders could significantly influence any matter requiring approval by our stockholders, including the election of directors and the approval of mergers or other business combinations. The interests of this group may not always coincide with our interests or the interests of other stockholders and may prevent or delay a change in control. This significant concentration of share ownership may adversely affect the trading price of our common stock because many investors perceive disadvantages to owning stock in companies with controlling stockholders.

We face unprecedented political, legal, governmental, regulatory and economic uncertainty and risks that may adversely affect our business.

Steps taken by the presidential administration in the United States have caused great uncertainty regarding the continuity of government funding, policies and operations. The scope and direction of the administration’s policies and their implementation are unpredictable. New policies may be adopted or actions taken, without notice, that adversely affect our commercial efforts or make it more challenging or costly to develop our product candidates. Significant cuts or disruptions to government employment and spending may delay review of our NDA for relacorilant as a treatment for patients with hypercortisolism or constrain our ability to advance our other clinical development programs and the development programs of our academic collaborators. The imposition of tariffs such as the administration has threatened to impose on materials we or our vendors use to conduct experiments or to make our Products or product candidates would increase our cost of doing business. Additionally, the laws and regulations governing our operations, as well as the application of such laws and regulations, may change abruptly. Failure to comply with new laws or regulations, whether by us or by our vendors, as well as changes in the application of existing laws and regulations, could adversely affect our operations, cash flow and financial condition or otherwise harm our business.

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