CORCEPT THERAPEUTICS INC

Listed Company

CORTCIK 0001088856NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$761.41M

Net Income

$99.65M

Total Assets

$836.65M

Equity

$647.80M

Shares Out

107.35M

Op. Cash Flow

$142.00M

Business

CORCEPT THERAPEUTICS INC discovers, develops and commercializes medications that modulate the effects of the hormone cortisol to treat severe endocrinologic, oncologic, metabolic and neurologic disorders. It markets Korlym and an authorized generic for hypercortisolism and develops proprietary selective cortisol modulators, including relacorilant, miricorilant and dazucorilant, through ongoing clinical trials across multiple indications. Its operations consist of commercial sales and patient support for marketed products, research and development of next‑generation GR modulators, and patent licensing and collaboration activities. Corcept distributes products in the United States through specialty pharmacies and distributors and conducts multinational clinical trials while seeking regulatory approvals in the U.S., EU and other jurisdictions.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Product revenue, net	761	675	482	402	366
Cost of sales	13	11	6	5	5
Research and development	255	247	184	131	114
Selling, general and administrative	449	280	184	153	122
Total operating expenses	717	538	375	289	242
Income from operations	45	137	107	113	124
Interest and other income	22	25	17	4	529,000
Income before income taxes	66	161	125	116	125
Income tax benefit (expense)	33	−20	−18	−15	−12
Net income	100	141	106	101	113
Net income attributable to common stockholders, basic	98	140	105	101	113
Net income attributable to common stockholders, diluted	98	140	105	101	113
Basic net income per share (in dollars per share)	0.95	1.35	1.02	0.95	0.97
Diluted net income per share (in dollars per share)	0.82	1.23	0.94	0.87	0.89
Basic (in shares)	104	103	104	107	116
Diluted (in shares)	120	113	112	116	126

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	120	128	136	66	78
Short-term marketable securities	252	256	233	365	—
Trade receivables, net of allowances	60	54	41	31	28
Inventory	13	12	8	6	5
Prepaid expenses and other current assets	41	22	28	16	10
Total current assets	485	472	459	499	266
Strategic inventory	11	4	8	11	13
Operating lease right-of-use asset	5	5	120,000	1	514,000
Property and equipment, net	2	3	195,000	633,000	1
Long-term marketable securities	160	220	57	5	—
Other assets	5	7	7	5	3
Deferred tax assets, net	168	131	91	61	27
Total assets	837	841	622	583	424
Accounts payable	40	15	17	12	7
Accrued research and development expenses	34	34	21	15	—
Accrued and other liabilities	91	91	52	31	28
Short-term operating lease liability	1	829,000	151,000	1	526,000
Total current liabilities	166	141	105	72	48
Long-term operating lease liability	5	6	0	—	0
Long-term accrued government rebates	3	0	—	—	—
Long-term accrued income taxes payable	15	14	10	9	409,000
Total liabilities	189	161	115	82	48
Commitments and contingencies (Note 10)	—	—	—	—	—
Preferred stock, par value $0.001 per share, 10,000 shares authorized and no shares outstanding as of December 31, 2025 and December 31, 2024	0	0	—	0	0
Common stock, par value $0.001 per share, 280,000 shares authorized and 142,518 issued and 105,966 outstanding as of December 31, 2025 and 137,753 shares issued and 105,113 outstanding as of December 31, 2024	140,000	136,000	—	131,000	127,000
Treasury stock; at cost; 36,552 shares of common stock as of December 31, 2025 and 32,640 shares of common stock as of December 31, 2024	−967	−696	−635	−456	−410
Additional paid-in capital	969	832	—	—	—
Accumulated other comprehensive income (loss)	2	−217,000	609,000	−869,000	−227,000
Retained earnings	643	544	403	296	195
Total stockholders equity	648	680	507	502	376
Total liabilities and stockholders equity	837	841	622	583	424

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	85	61	49	42	43
Accretion of discount on marketable securities, net	−5	−11	−9	1	5
Depreciation and amortization	1	795,000	1	1	1
Deferred income taxes	−38	−40	−29	−34	4
Amortization of right-of-use asset	741,000	541,000	1	2	2
Trade receivables	−6	−13	−10	−3	−1
Insurance recovery receivable related to Melucci litigation (Note 10)	0	14	0	—	—
Inventory	−7	305,000	1	1	3
Prepaid expenses and other current assets	−19	5	−12	−7	−4
Other assets	1	−69,000	−1	−2	2
Accounts payable	25	−2	5	5	−4
Accrued research and development expenses	86,000	13	7	2	−1
Accrued and other liabilities	4	38	18	3	6
Accrued settlement related to Melucci litigation (Note 10)	0	−14	0	14	0
Long-term accrued income taxes	1	4	1	9	11,000
Operating lease liability	−829,000	183,000	−1	−2	−2
Net cash provided by operating activities	142	198	127	120	168
Purchases of property and equipment	−211,000	−2	−139,000	−413,000	−469,000
Proceeds from maturities of marketable securities	390	413	420	241	—
Purchases of marketable securities	−320	−588	−329	−355	−313
Net cash provided (used in) by investing activities	70	−178	91	−114	136
Proceeds from stock option exercises, net of issuance costs	16	4	2	—	—
Proceeds from purchases under the Employee Stock Purchase Program	10	5	4	990,000	—
Repurchases of common stock in connection with Stock Repurchase Program	−173	−16	0	0	—
Repurchase of common stock in connection with Tender Offer	0	0	−145	0	—
Cash paid to satisfy statutory withholding requirement for net settlement of cashless option exercises and vesting of restricted stock grants	−73	−22	−9	−22	−23
Net cash used in financing activities	−220	−28	−149	−17	−303
Net effect of exchange rate changes on cash and cash equivalents	1	−228,000	358,000	—	—
Net (decrease) increase in cash and cash equivalents	−7	−8	69	−11	1
Income taxes paid	13	60	48	40	9
Exercise cost of shares repurchased for net settlement of cashless option exercises	25	21	25	24	16

Filings

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