2013 Q1 Form 10-K Financial Statement
#000119312513110085 Filed on March 15, 2013
Income Statement
Concept | 2013 Q1 | 2012 Q3 | 2011 Q4 |
---|---|---|---|
Revenue | $1.717M | $1.055M | $0.00 |
YoY Change | |||
Cost Of Revenue | $20.00K | $24.00K | |
YoY Change | |||
Gross Profit | $1.697M | $1.031M | |
YoY Change | |||
Gross Profit Margin | 98.84% | 97.73% | |
Selling, General & Admin | $8.383M | $5.694M | $3.280M |
YoY Change | 11.97% | 77.44% | 3.8% |
% of Gross Profit | 493.99% | 552.28% | |
Research & Development | $4.257M | $3.008M | $6.650M |
YoY Change | 20.19% | -6.82% | 42.7% |
% of Gross Profit | 250.85% | 291.76% | |
Depreciation & Amortization | $14.00K | $0.00 | $0.00 |
YoY Change | 366.67% | ||
% of Gross Profit | 0.82% | 0.0% | |
Operating Expenses | $12.66M | $8.726M | $9.930M |
YoY Change | 14.79% | 35.56% | 26.98% |
Operating Profit | -$10.94M | -$7.671M | |
YoY Change | -0.78% | 19.17% | |
Interest Expense | -$1.140M | -$620.0K | -$10.00K |
YoY Change | 11300.0% | -101.37% | |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$12.08M | -$8.290M | -$9.940M |
YoY Change | 9.52% | 28.73% | 40.2% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$12.08M | -$8.293M | -$9.936M |
YoY Change | 9.52% | 28.87% | 40.14% |
Net Earnings / Revenue | -703.79% | -786.07% | |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$121.0K | -$83.67K | -$118.0K |
COMMON SHARES | |||
Basic Shares Outstanding | 99.81M shares | 99.68M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2013 Q1 | 2012 Q3 | 2011 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $81.50M | $101.6M | $39.60M |
YoY Change | 91.31% | 121.35% | 60.98% |
Cash & Equivalents | $81.46M | $101.6M | $39.64M |
Short-Term Investments | |||
Other Short-Term Assets | $600.0K | $800.0K | $100.0K |
YoY Change | 500.0% | 100.0% | -75.0% |
Inventory | $1.026M | $1.837M | $0.00 |
Prepaid Expenses | |||
Receivables | $1.143M | $354.0K | $0.00 |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $84.20M | $104.6M | $39.78M |
YoY Change | 96.73% | 125.96% | 59.1% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $154.0K | $105.0K | $26.00K |
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $136.0K | $160.0K | $32.00K |
YoY Change | 36.0% | -68.0% | |
Total Long-Term Assets | $3.940M | $905.0K | $58.00K |
YoY Change | 3840.0% | 805.0% | -42.0% |
TOTAL ASSETS | |||
Total Short-Term Assets | $84.20M | $104.6M | $39.78M |
Total Long-Term Assets | $3.940M | $905.0K | $58.00K |
Total Assets | $88.14M | $105.5M | $39.83M |
YoY Change | 105.46% | 127.42% | 58.7% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.263M | $1.574M | $3.611M |
YoY Change | 7.76% | 43.09% | 351.38% |
Accrued Expenses | $958.0K | $786.0K | $533.0K |
YoY Change | -36.13% | -50.88% | -82.23% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $3.900M | $2.250M | $0.00 |
YoY Change | |||
Total Short-Term Liabilities | $8.243M | $5.548M | $5.026M |
YoY Change | 128.97% | 105.48% | 28.87% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $28.90M | $28.33M | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $28.90M | $28.33M | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $8.243M | $5.548M | $5.026M |
Total Long-Term Liabilities | $28.90M | $28.33M | $0.00 |
Total Liabilities | $37.14M | $33.87M | $5.000M |
YoY Change | 931.61% | 1154.56% | 28.21% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$258.7M | ||
YoY Change | |||
Common Stock | $100.0K | $100.0K | $84.00K |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $51.00M | $71.65M | $34.81M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $88.14M | $105.5M | $39.83M |
YoY Change | 105.46% | 127.42% | 58.7% |
Cashflow Statement
Concept | 2013 Q1 | 2012 Q3 | 2011 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$12.08M | -$8.293M | -$9.936M |
YoY Change | 9.52% | 28.87% | 40.14% |
Depreciation, Depletion And Amortization | $14.00K | $0.00 | $0.00 |
YoY Change | 366.67% | ||
Cash From Operating Activities | -$11.55M | -$9.300M | -$6.300M |
YoY Change | 13.75% | 40.91% | 14.55% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $18.00K | -$100.0K | $0.00 |
YoY Change | 157.14% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | -$18.00K | -$100.0K | $0.00 |
YoY Change | 157.14% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $46.10M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 76.00M | 100.0K |
YoY Change | -100.0% | 37900.0% | -90.91% |
NET CHANGE | |||
Cash From Operating Activities | -11.55M | -9.300M | -6.300M |
Cash From Investing Activities | -18.00K | -100.0K | 0.000 |
Cash From Financing Activities | 0.000 | 76.00M | 100.0K |
Net Change In Cash | -11.57M | 66.60M | -6.200M |
YoY Change | -486.76% | -1140.62% | 40.91% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$11.55M | -$9.300M | -$6.300M |
Capital Expenditures | $18.00K | -$100.0K | $0.00 |
Free Cash Flow | -$11.57M | -$9.200M | -$6.300M |
YoY Change | 13.85% | 39.39% | 14.55% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2009Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.28 | |
CY2009Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
23867000 | |
CY2009Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
7347000 | shares |
CY2010Q4 | us-gaap |
Grants Receivable
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733438 | |
CY2012Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
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3.525 | |
CY2013Q1 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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CY2010Q2 | us-gaap |
Share Price
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3.00 | |
CY2012Q2 | us-gaap |
Common Stock Shares Authorized
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CY2012Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
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Share Price
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Liquidated Damages
LiquidatedDamages
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1300000 | |
CY2008Q4 | cort |
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|
0.05 | pure |
CY2009Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
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201000 | shares |
CY2009Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
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22092000 | |
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StockholdersEquity
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21244000 | |
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24578000 | |
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Assets
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Long Term Debt
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159000 | |
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CY2012Q4 | us-gaap |
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CY2012Q4 | us-gaap |
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InventoryFinishedGoodsNetOfReserves
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20000 | |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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11626000 | shares |
CY2012Q4 | us-gaap |
Common Stock Value
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100000 | |
CY2012Q4 | us-gaap |
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0.001 | |
CY2012Q4 | us-gaap |
Assets Current
AssetsCurrent
|
95062000 | |
CY2012Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2012Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
104249000 | |
CY2012Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2012Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
428000 | |
CY2012Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
77000 | |
CY2012Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
150000 | |
CY2012Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
124000 | |
CY2012Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
2650000 | |
CY2012Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
308283000 | |
CY2012Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
29030000 | |
CY2012Q4 | cort |
Retained Earnings Accumulated Deficit And Accumulated Other Comprehensive Income Loss Net Of Tax
RetainedEarningsAccumulatedDeficitAndAccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-246606000 | |
CY2012Q4 | cort |
Accrued Legal Fees Current
AccruedLegalFeesCurrent
|
31000 | |
CY2012Q4 | cort |
Debt Instrument Fee Percentage
DebtInstrumentFeePercentage
|
0.20 | pure |
CY2012Q4 | cort |
Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
|
22631000 | |
CY2012Q4 | cort |
Inventory Current Noncurrent Net Total
InventoryCurrentNoncurrentNetTotal
|
4663000 | |
CY2012Q4 | cort |
Concentration Risk Number Of Customers
ConcentrationRiskNumberOfCustomers
|
2 | Customer |
CY2012Q4 | cort |
Concentration Risk Number Of Suppliers
ConcentrationRiskNumberOfSuppliers
|
1 | Vendor |
CY2012Q4 | cort |
Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
|
7000 | |
CY2012Q4 | cort |
Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
|
843000 | |
CY2012Q4 | cort |
Accrued Government Rebate Current
AccruedGovernmentRebateCurrent
|
78000 | |
CY2012Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
46100000 | |
CY2012Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
11000000 | shares |
CY2012Q3 | us-gaap |
Debt Instrument Restrictive Covenants
DebtInstrumentRestrictiveCovenants
|
Pursuant to this agreement, we are not allowed to pay a dividend or other cash distribution, unless we will have cash and cash equivalents in excess of $50 million after such payment. | |
CY2011Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
41800000 | |
CY2011Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
11500000 | shares |
CY2010Q2 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
13800000 | |
CY2010Q2 | us-gaap |
Proceeds From Legal Settlements
ProceedsFromLegalSettlements
|
750000 | |
CY2010Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
5000000 | shares |
CY2012Q3 | us-gaap |
Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
|
2013-09-25 | |
CY2010 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0183 | pure |
CY2010 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
250000 | |
CY2010 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-27437000 | |
CY2010 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
|
2499000 | shares |
CY2010 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-453000 | |
CY2010 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-25966000 | |
CY2010 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.00 | pure |
CY2010 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-8828000 | |
CY2010 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Research And Development
IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment
|
1671000 | |
CY2010 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
6000 | |
CY2010 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2116000 | |
CY2010 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
3.40 | |
CY2010 | us-gaap |
Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
|
249000 | |
CY2010 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.38 | |
CY2010 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
124000 | shares |
CY2010 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y10M24D | |
CY2010 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-22285000 | |
CY2010 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
1.22 | |
CY2010 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
711000 | |
CY2010 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
23000 | |
CY2010 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-135000 | |
CY2010 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
151000 | |
CY2010 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
|
9000 | |
CY2010 | us-gaap |
Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
|
||
CY2010 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
|
189000 | |
CY2010 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
1496000 | |
CY2010 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
18949000 | |
CY2010 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
22996000 | |
CY2010 | us-gaap |
Operating Expenses
OperatingExpenses
|
27437000 | |
CY2010 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.963 | pure |
CY2010 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
13500000 | |
CY2010 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2116000 | |
CY2010 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
6000 | |
CY2010 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
68336000 | shares |
CY2010 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
17161000 | shares |
CY2010 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
23002000 | |
CY2010 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-25966000 | |
CY2010 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
8488000 | |
CY2010 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
250000 | |
CY2010 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
838000 | shares |
CY2010 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
|
1900000 | |
CY2010 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
106000 | |
CY2010 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.68 | |
CY2010 | cort |
Repayment Of Notes Receivable From Shareholders
RepaymentOfNotesReceivableFromShareholders
|
4000 | |
CY2010 | cort |
Interest And Other Expense Nonoperating
InterestAndOtherExpenseNonoperating
|
25000 | |
CY2010 | cort |
Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
|
1794000 | |
CY2010 | cort |
Income Tax Reconciliation Unutilized Net Operating Losses
IncomeTaxReconciliationUnutilizedNetOperatingLosses
|
7208000 | |
CY2011 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0265 | pure |
CY2011 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
702000 | |
CY2011 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-32332000 | |
CY2011 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
|
2896000 | shares |
CY2011 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2794000 | |
CY2011 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-32354000 | |
CY2011 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.00 | pure |
CY2011 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.39 | |
CY2011 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
246000 | shares |
CY2011 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3000 | |
CY2011 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3435000 | |
CY2011 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-11000000 | |
CY2011 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Research And Development
IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment
|
2119000 | |
CY2011 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
3.97 | |
CY2011 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P8Y10M24D | |
CY2011 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-27400000 | |
CY2011 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-25000 | |
CY2011 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
1.51 | |
CY2011 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
25000 | |
CY2011 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
15057000 | |
CY2011 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-72000 | |
CY2011 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-278000 | |
CY2011 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
|
13000 | |
CY2011 | us-gaap |
Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
|
||
CY2011 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
|
280000 | |
CY2011 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
3000 | |
CY2011 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
21001000 | |
CY2011 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
42482000 | |
CY2011 | us-gaap |
Operating Expenses
OperatingExpenses
|
32332000 | |
CY2011 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.900 | pure |
CY2011 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
16000000 | |
CY2011 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3435000 | |
CY2011 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
83309000 | shares |
CY2011 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
19427000 | shares |
CY2011 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
42482000 | |
CY2011 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-32354000 | |
CY2011 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
11331000 | |
CY2011 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
285000 | |
CY2011 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
2825000 | shares |
CY2011 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
|
2800000 | |
CY2011 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-171000 | |
CY2011 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
3.29 | |
CY2011 | cort |
Repayment Of Notes Receivable From Shareholders
RepaymentOfNotesReceivableFromShareholders
|
97000 | |
CY2011 | cort |
Interest And Other Expense Nonoperating
InterestAndOtherExpenseNonoperating
|
25000 | |
CY2011 | cort |
Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
|
-1457000 | |
CY2011 | cort |
Income Tax Reconciliation Unutilized Net Operating Losses
IncomeTaxReconciliationUnutilizedNetOperatingLosses
|
8588000 | |
CY2012 | dei |
Trading Symbol
TradingSymbol
|
CORT | |
CY2012 | dei |
Entity Registrant Name
EntityRegistrantName
|
CORCEPT THERAPEUTICS INC | |
CY2012 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2012 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2012 | dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
CY2012 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2012 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
CY2012 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2012 | |
CY2012 | dei |
Document Type
DocumentType
|
10-K | |
CY2012 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2012-12-31 | |
CY2012 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-38048000 | |
CY2012 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001088856 | |
CY2012 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
CY2012 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2012 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0106 | pure |
CY2012 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
303000 | |
CY2012 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-36272000 | |
CY2012 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
3307000 | |
CY2012 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
|
3369000 | shares |
CY2012 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
193000 | |
CY2012 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P4Y3M18D | |
CY2012 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.00 | pure |
CY2012 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-12936000 | |
CY2012 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Research And Development
IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment
|
827000 | |
CY2012 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
27000 | |
CY2012 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5310000 | |
CY2012 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
3.26 | |
CY2012 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.41 | |
CY2012 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
165000 | shares |
CY2012 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
14000000 | |
CY2012 | us-gaap |
Debt Instrument Increase Decrease For Period Description
DebtInstrumentIncreaseDecreaseForPeriodDescription
|
The percentage used to calculate our payments to Biopharma would increase to 50 percent and any applicable payment caps would lapse if we (i) fail to provide Biopharma with certain information regarding our promotion and sales of Covered Products, (ii) do not devote a commercially reasonable amount of resources to the promotion and marketing of the Covered Products or (iii) violate the indebtedness covenant by incurring indebtedness greater than the sum of earnings before interest, taxes, depreciation and amortization, including such items as non-cash stock-based compensation, (EBITDA) for the four calendar quarters preceding such incurrence and, in each case, fail to cure within the applicable cure period. | |
CY2012 | us-gaap |
Revenue Recognition Revenue Reductions
RevenueRecognitionRevenueReductions
|
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Net Product Sales</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We sell Korlym to a specialty pharmacy and a specialty distributor, which subsequently resell Korlym to patients and healthcare providers. We recognize product revenues from sales of Korlym upon delivery to our customers as long as (i) there is persuasive evidence that an arrangement exists between ourselves and the customer, (ii) collectability is reasonably assured and (iii) the price is fixed or determinable. In order to conclude that the price is fixed or determinable, we must be able to (i) calculate gross product revenues from the sales to our customers and (ii) reasonably estimate net product revenues.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We calculate gross product revenues based on the price that we charge our customers. We estimate our net product revenues by deducting from our gross product revenues (a) trade allowances, such as discounts for prompt payment and distributor fees, (b) estimated government rebates and chargebacks, (c) reserves for expected product returns and (d) estimated costs of our patient assistance program. We initially record estimates for these deductions at the time we recognize the gross revenue. We update our estimates on a recurring basis as new information becomes available.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2"><i>Trade Allowances:    </i>We offer our customers a discount on Korlym sales for payment within 30 days. We also offer them a small discount for the provision of data services. We expect our customers to earn these discounts and accordingly deduct them in full from gross product revenues and trade receivables at the time we recognize such revenues.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2"><i>Rebates and Chargebacks:    </i>We contract with Medicaid and other government programs so that Korlym will be eligible for purchase by, or qualify for partial or full reimbursement from, such government programs. We estimate the rebates and chargebacks that we are obligated to provide to government programs and deduct these estimated amounts from our gross product sales at the time the revenues are recognized. We base our estimates of these rebates and chargebacks upon (i) the discount amounts applicable to government-funded programs and (ii) information obtained from our vendors regarding the percentage of sales by our customers to patients who are covered by entities or programs that are eligible for such rebates and chargebacks.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2"><i>Allowances for Patient Assistance Program:    </i>We provide financial assistance to eligible patients whose insurance policies require them to pay high deductibles and co-pays. We estimate the cost of assistance to be provided under this program by applying our actual experience regarding such assistance to our estimate of the percentage of our sales in the period that will be provided to patients covered by the program.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2"><i>Sales Returns:    </i>Our customers have the right to return Korlym beginning six months before the labeled expiration date and ending 12 months after the labeled expiration date. This right of return is extended to our specialty distributor channel’s hospital customers who, generally, have the right to return only unopened bottles. The expiration date for the Korlym product sold in 2012 will not occur until late in 2013. We estimate the amount of Korlym that we believe will be returned and deduct that estimated amount from gross revenue at the time we recognize such revenue. When estimating future returns, we analyze quantitative and qualitative information including, but not limited to, actual return rates, the amount of product in the distribution channel, the expected shelf life of such product, current and projected product demand, the introduction of competing products that may erode demand, and broad economic and industry-wide indicators. If we cannot reasonably estimate product returns with respect to a particular sale, we defer recognition of revenue from that sale until we can make a reasonable estimate.</font></p> </div> | |
CY2012 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
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<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Credit Risks and Concentrations</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We have a concentration of credit risk related to our cash and cash equivalents. We are exposed to credit risk in the event of default by the financial institutions holding these funds to the extent of the amount recorded on the balance sheet. We mitigate this risk by investing in a money market fund that invests primarily in short-term U.S. Treasury notes and bills. For the years ended December 31, 2012, 2011 and 2010, we experienced no loss or lack of access to cash and cash equivalents in our operating or investment accounts.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">Beginning with the commercialization of Korlym in April 2012, we are also exposed to credit risk in regard to our trade receivables. We have only two customers — one specialty pharmacy and one specialty distributor, which are subsidiaries of the same corporate parent. We extend credit to these customers based on their individual creditworthiness and that of their shared parent organization. We monitor our exposure and will record a reserve against uncollectible trade receivables as necessary.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We have a concentration of risk in regard to the manufacture of our product. As of December 31, 2012, we had one tablet manufacturer with an operational facility — AAI Pharma, which was approved by the FDA in November 2012 for the manufacture of our commercial tablets. Our original tablet manufacturer, PharmaForm, has temporarily suspended manufacturing operations for relocation to a new facility. We are currently in negotiations for a commercial manufacturing agreement with AAI Pharma. If PharmaForm is not able to qualify their new site or if AAI Pharma is unable to prepare Korlym tablets in the quantities and time frame required, we may not be able to manufacture our product in a timely manner. In addition, we have a single-source manufacturer of mifepristone, the active pharmaceutical ingredient (API), in Korlym. In order to mitigate these risks related to the manufacture of our product, we placed strategic orders for additional quantities of mifepristone API during 2012 and had our original tablet manufacturer, PharmaForm, prepare additional batches during the summer of 2012 before the closure of their qualified manufacturing site.</font></p> </div> | |
CY2012 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y8M12D | |
CY2012 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-36020000 | |
CY2012 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-151000 | |
CY2012 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
16000 | |
CY2012 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
1.91 | |
CY2012 | us-gaap |
Accretion Expense
AccretionExpense
|
1680000 | |
CY2012 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
17000 | |
CY2012 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | Segment |
CY2012 | us-gaap |
Debt Instrument Issuance Date1
DebtInstrumentIssuanceDate1
|
2012-08-02 | |
CY2012 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
151000 | |
CY2012 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
53397000 | |
CY2012 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-11000 | |
CY2012 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
480000 | |
CY2012 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y8M12D | |
CY2012 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
|
42000 | |
CY2012 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
557000 | |
CY2012 | us-gaap |
Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
|
||
CY2012 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
|
404000 | |
CY2012 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
14074000 | |
CY2012 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
89568000 | |
CY2012 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
91000 | |
CY2012 | us-gaap |
Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
|
We consider all highly liquid investments purchased with maturities of three months or less from the date of purchase to be cash equivalents. | |
CY2012 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
1700000 | |
CY2012 | us-gaap |
Operating Expenses
OperatingExpenses
|
39579000 | |
CY2012 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.866 | pure |
CY2012 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
4663000 | |
CY2012 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
|
P6Y7M6D | |
CY2012 | us-gaap |
Debt Instrument Date Of First Required Payment1
DebtInstrumentDateOfFirstRequiredPayment1
|
2013-06-30 | |
CY2012 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y7M6D | |
CY2012 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5310000 | |
CY2012 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
93015000 | shares |
CY2012 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
20530000 | shares |
CY2012 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
59708000 | |
CY2012 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.41 | |
CY2012 | cort |
Interest And Other Expense Nonoperating
InterestAndOtherExpenseNonoperating
|
1776000 | |
CY2012 | cort |
Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
|
275000 | |
CY2012 | cort |
Number Of Stock Option Plans
NumberOfStockOptionPlans
|
3 | OptionPlan |
CY2012 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-38048000 | |
CY2012 | us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
29860000 | |
CY2012 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
25414000 | |
CY2012 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
360000 | |
CY2012 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
1695000 | shares |
CY2012 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
|
5000000 | |
CY2012 | cort |
Product Returns Period Prior To Expiration Date To Provide Credit
ProductReturnsPeriodPriorToExpirationDateToProvideCredit
|
P6M | |
CY2012 | cort |
Product Returns Period After Expiration Date To Provide Credit
ProductReturnsPeriodAfterExpirationDateToProvideCredit
|
P12M | |
CY2012 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to use assumptions and make estimates to form judgments that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We evaluate our estimates and assumptions on an ongoing basis, including those related to our discounts for prompt payment of sales invoices, chargebacks and rebates, patient assistance, potential product returns, excess/obsolete inventories, allowances for doubtful accounts, accruals of clinical and preclinical expenses, contingent liabilities, and the timing of payments with respect to our long-term capped royalty obligation, which determine its effective interest rate. We base our estimates on relevant experience and on other specific assumptions that we believe are reasonable.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We update our assumptions and estimates on a recurring basis as new information becomes available. Any changes in estimates are recorded in the period of the change.</font></p> </div> | |
CY2012 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
199000 | |
CY2012 | cort |
Lease Extension Period
LeaseExtensionPeriod
|
P1Y | |
CY2012 | cort |
Income Tax Reconciliation Unutilized Net Operating Losses
IncomeTaxReconciliationUnutilizedNetOperatingLosses
|
11663000 | |
CY2012 | cort |
Accounts Receivable Payment Terms
AccountsReceivablePaymentTerms
|
P30D | |
CY2012 | cort |
Percentage Of Net Product Sales Used To Pay Obligation
PercentageOfNetProductSalesUsedToPayObligation
|
0.20 | pure |
CY2011Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.09 | |
CY2011Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7101000 | |
CY2011Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.11 | |
CY2011Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8882000 | |
CY2012Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.13 | |
CY2012Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-11034000 | |
CY2012Q2 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
875000 | |
CY2012Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.09 | |
CY2012Q2 | us-gaap |
Gross Profit
GrossProfit
|
827000 | |
CY2012Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7597000 | |
CY2011Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.08 | |
CY2011Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6435000 | |
CY2012Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
1055000 | |
CY2012Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.08 | |
CY2012Q3 | us-gaap |
Gross Profit
GrossProfit
|
1031000 | |
CY2012Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8293000 | |
CY2011Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.12 | |
CY2011Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9936000 | |
CY2012Q4 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
1377000 | |
CY2012Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.11 | |
CY2012Q4 | us-gaap |
Gross Profit
GrossProfit
|
1358000 | |
CY2012Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-11124000 |