(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Exhibits No. | Description | ||||
99.1 | |||||
104.1 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
CORCEPT THERAPEUTICS INCORPORATED | ||||||||||||||
Date: | February 15, 2024 | By: | /s/ Atabak Mokari | |||||||||||
Name: Atabak Mokari | ||||||||||||||
Title: Chief Financial Officer |
December 31, 2023 | December 31, 2022(1) | ||||||||||
(Unaudited) | |||||||||||
Assets | |||||||||||
Cash and investments | $ | 425,397 | $ | 436,619 | |||||||
Trade receivables, net of allowances | 41,123 | 31,057 | |||||||||
Insurance recovery receivable related to Melucci litigation | 14,000 | 14,000 | |||||||||
Inventory | 15,974 | 17,031 | |||||||||
Operating lease right-of-use asset | 120 | 1,143 | |||||||||
Deferred tax assets, net | 90,605 | 61,465 | |||||||||
Other assets | 34,298 | 22,115 | |||||||||
Total assets | $ | 621,517 | $ | 583,430 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Accounts payable | $ | 17,396 | $ | 11,976 | |||||||
Accrued settlement related to Melucci litigation | 14,000 | 14,000 | |||||||||
Operating lease liabilities | 151 | 1,143 | |||||||||
Other liabilities | 83,265 | 54,469 | |||||||||
Stockholders’ equity | 506,705 | 501,842 | |||||||||
Total liabilities and stockholders’ equity | $ | 621,517 | $ | 583,430 | |||||||
(1) Derived from audited financial statements at that date |
Three Months Ended | Year Ended | ||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Revenues | |||||||||||||||||||||||
Product revenue, net | $ | 135,405 | $ | 103,056 | $ | 482,375 | $ | 401,858 | |||||||||||||||
Operating expenses | |||||||||||||||||||||||
Cost of sales | 1,876 | 1,480 | 6,481 | 5,385 | |||||||||||||||||||
Research and development | 54,707 | 36,754 | 184,353 | 130,991 | |||||||||||||||||||
Selling, general and administrative | 47,152 | 42,323 | 184,259 | 152,848 | |||||||||||||||||||
Settlement expense related to Melucci litigation | — | 14,000 | — | 14,000 | |||||||||||||||||||
Insurance recovery related to Melucci litigation | — | (14,000) | — | (14,000) | |||||||||||||||||||
Total operating expenses | 103,735 | 80,557 | 375,093 | 289,224 | |||||||||||||||||||
Income from operations | 31,670 | 22,499 | 107,282 | 112,634 | |||||||||||||||||||
Interest and other income | 5,139 | 1,777 | 17,275 | 3,557 | |||||||||||||||||||
Income before income taxes | 36,809 | 24,276 | 124,557 | 116,191 | |||||||||||||||||||
Income tax expense | (5,454) | (7,675) | (18,417) | (14,773) | |||||||||||||||||||
Net income | $ | 31,355 | $ | 16,601 | $ | 106,140 | $ | 101,418 | |||||||||||||||
Net income attributable to common stockholders | $ | 31,138 | $ | 16,553 | $ | 105,496 | $ | 101,288 | |||||||||||||||
Basic net income per common share | $ | 0.30 | $ | 0.15 | $ | 1.02 | $ | 0.95 | |||||||||||||||
Diluted net income per common share | $ | 0.28 | $ | 0.14 | $ | 0.94 | $ | 0.87 | |||||||||||||||
Weighted-average shares outstanding used in computing net income per common share | |||||||||||||||||||||||
Basic | 102,455 | 107,700 | 103,560 | 106,787 | |||||||||||||||||||
Diluted | 110,886 | 116,328 | 111,742 | 115,966 |
Cover Page Document |
Feb. 15, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Feb. 15, 2024 |
Entity Registrant Name | Corcept Therapeutics Incorporated |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 000-50679 |
Entity Tax Identification Number | 77-0487658 |
Entity Address, Address Line One | 149 Commonwealth Drive |
Entity Address, City or Town | Menlo Park |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 94025 |
City Area Code | 650 |
Local Phone Number | 327-3270 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.001 par value |
Trading Symbol | CORT |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001088856 |
Amendment Flag | false |
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