$CORT
Corcept Therapeutics Inc Stock $cort

$cort Overview Financials Valuation SEC Filings Company Website

2014 Q3 Form 10-Q Financial Statement

#000119312514303137 Filed on August 08, 2014

Income Statement

Concept	2014 Q3	2014 Q2	2013 Q2
Revenue	$7.282M	$5.851M	$1.891M
YoY Change	176.46%	209.41%	116.11%
Cost Of Revenue	$235.0K	$215.0K	$23.00K
YoY Change	487.5%	834.78%	-52.08%
Gross Profit	$7.047M	$5.636M	$1.868M
YoY Change	171.67%	201.71%	125.88%
Gross Profit Margin	96.77%	96.33%	98.78%
Selling, General & Admin	$9.103M	$7.965M	$8.160M
YoY Change	26.8%	-2.39%	41.89%
% of Gross Profit	129.18%	141.32%	436.83%
Research & Development	$3.047M	$4.252M	$4.491M
YoY Change	-40.89%	-5.32%	68.33%
% of Gross Profit	43.24%	75.44%	240.42%
Depreciation & Amortization	$0.00	$100.0K	$0.00
YoY Change	-100.0%
% of Gross Profit	0.0%	1.77%	0.0%
Operating Expenses	$12.39M	$12.43M	$12.67M
YoY Change	0.09%	-1.91%	49.69%
Operating Profit	-$5.103M	-$6.581M	-$10.78M
YoY Change	-47.61%	-38.97%	42.03%
Interest Expense	-$900.0K	-$970.0K	-$1.110M
YoY Change	-23.08%	-12.61%	11000.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income	-$6.010M	-$7.550M	-$11.90M
YoY Change	-44.91%	-36.55%	56.58%
Income Tax	$0.00	$0.00	$0.00
% Of Pretax Income
Net Earnings	-$6.006M	-$7.552M	-$11.90M
YoY Change	-44.93%	-36.52%	56.6%
Net Earnings / Revenue	-82.48%	-129.07%	-629.14%
Basic Earnings Per Share
Diluted Earnings Per Share	-$59.43K	-$73.83K	-$119.2K
COMMON SHARES
Basic Shares Outstanding	101.1M shares	100.9M shares	99.81M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2014 Q3	2014 Q2	2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$26.80M	$34.00M	$72.20M
YoY Change	-57.59%	-52.91%	106.88%
Cash & Equivalents	$26.78M	$33.97M	$72.22M
Short-Term Investments
Other Short-Term Assets	$1.800M	$2.200M	$800.0K
YoY Change	80.0%	175.0%	33.33%
Inventory	$1.080M	$1.072M	$694.0K
Prepaid Expenses
Receivables	$2.746M	$2.225M	$855.0K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$32.38M	$39.44M	$74.57M
YoY Change	-51.11%	-47.11%	94.7%
LONG-TERM ASSETS
Property, Plant & Equipment	$273.0K	$296.0K	$139.0K
YoY Change	48.37%	112.95%	135.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$81.00K	$87.00K	$128.0K
YoY Change	-32.5%	-32.03%	-50.77%
Total Long-Term Assets	$4.784M	$4.953M	$5.117M
YoY Change	-1.03%	-3.21%	1504.08%
TOTAL ASSETS
Total Short-Term Assets	$32.38M	$39.44M	$74.57M
Total Long-Term Assets	$4.784M	$4.953M	$5.117M
Total Assets	$37.16M	$44.39M	$79.69M
YoY Change	-47.71%	-44.29%	106.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.960M	$2.595M	$3.033M
YoY Change	-16.13%	-14.44%	-28.38%
Accrued Expenses	$1.539M	$1.624M	$812.0K
YoY Change	98.07%	100.0%	26.88%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$8.661M	$7.396M	$3.650M
YoY Change	92.47%	102.63%
Total Short-Term Liabilities	$12.49M	$13.30M	$9.079M
YoY Change	23.11%	46.51%	56.1%
LONG-TERM LIABILITIES
Long-Term Debt	$25.99M	$27.64M	$30.24M
YoY Change	-13.77%	-8.6%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$25.99M	$27.64M	$30.24M
YoY Change	-13.77%	-8.6%
TOTAL LIABILITIES
Total Short-Term Liabilities	$12.49M	$13.30M	$9.079M
Total Long-Term Liabilities	$25.99M	$27.64M	$30.24M
Total Liabilities	$38.48M	$40.94M	$39.32M
YoY Change	-4.49%	4.13%	577.86%
SHAREHOLDERS EQUITY
Retained Earnings	-$320.1M	-$314.1M	-$270.6M
YoY Change	13.72%	16.08%
Common Stock	$101.0K	$101.0K	$100.0K
YoY Change	1.0%	1.0%	12.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$1.317M	$3.452M	$40.37M
YoY Change
Total Liabilities & Shareholders Equity	$37.16M	$44.39M	$79.69M
YoY Change	-47.71%	-44.29%	106.35%

Cashflow Statement

Concept	2014 Q3	2014 Q2	2013 Q2
OPERATING ACTIVITIES
Net Income	-$6.006M	-$7.552M	-$11.90M
YoY Change	-44.93%	-36.52%	56.6%
Depreciation, Depletion And Amortization	$0.00	$100.0K	$0.00
YoY Change	-100.0%
Cash From Operating Activities	-$6.000M	-$8.900M	-$9.200M
YoY Change	-30.23%	-3.26%	17.95%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	-$100.0K	$0.00
YoY Change	-100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	$0.00	-$100.0K	$0.00
YoY Change	-100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-1.300M	-600.0K	0.000
YoY Change	225.0%		-100.0%
NET CHANGE
Cash From Operating Activities	-6.000M	-8.900M	-9.200M
Cash From Investing Activities	0.000	-100.0K	0.000
Cash From Financing Activities	-1.300M	-600.0K	0.000
Net Change In Cash	-7.300M	-9.600M	-9.200M
YoY Change	-19.78%	4.35%	21.05%
FREE CASH FLOW
Cash From Operating Activities	-$6.000M	-$8.900M	-$9.200M
Capital Expenditures	$0.00	-$100.0K	$0.00
Free Cash Flow	-$6.000M	-$8.800M	-$9.200M
YoY Change	-29.41%	-4.35%	17.95%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2013Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	72220000
CY2014Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	101123000	shares
CY2014Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2014Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2014Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	280000000	shares
CY2014Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2014Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2014Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	101123000	shares
CY2014Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2014Q2	us-gaap	Long Term Debt Current LongTermDebtCurrent	7396000
CY2014Q2	us-gaap	Liabilities Current LiabilitiesCurrent	13302000
CY2014Q2	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	27636000
CY2014Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	78000
CY2014Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	317449000
CY2014Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	2595000
CY2014Q2	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	345000
CY2014Q2	us-gaap	Stockholders Equity StockholdersEquity	3452000
CY2014Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-314098000
CY2014Q2	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	44000
CY2014Q2	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2014Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1624000
CY2014Q2	us-gaap	Accrued Marketing Costs Current AccruedMarketingCostsCurrent	328000
CY2014Q2	us-gaap	Accrued Vacation Current AccruedVacationCurrent	561000
CY2014Q2	us-gaap	Common Stock Value CommonStockValue	101000
CY2014Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	44390000
CY2014Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	87000
CY2014Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	2225000
CY2014Q2	us-gaap	Inventory Net InventoryNet	1072000
CY2014Q2	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	897000
CY2014Q2	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	3488000
CY2014Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	296000
CY2014Q2	us-gaap	Assets Assets	44390000
CY2014Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	33974000
CY2014Q2	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	1257000
CY2014Q2	us-gaap	Other Inventory Noncurrent OtherInventoryNoncurrent	4570000
CY2014Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	2166000
CY2014Q2	us-gaap	Assets Current AssetsCurrent	39437000
CY2014Q2	cort	Accrued Government Rebate Current AccruedGovernmentRebateCurrent	119000
CY2014Q2	cort	Concentration Risk Number Of Suppliers ConcentrationRiskNumberOfSuppliers	1	Vendor
CY2014Q2	cort	Accrued Legal Fees Current AccruedLegalFeesCurrent	193000
CY2014Q2	cort	Accrued Clinical Expenses Current AccruedClinicalExpensesCurrent	1643000
CY2014Q2	cort	Inventory Current Noncurrent InventoryCurrentNoncurrent	5642000
CY2012Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	93032000
CY2013Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	99849000	shares
CY2013Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	3000
CY2013Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2013Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	280000000	shares
CY2013Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2013Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2013Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	99849000	shares
CY2013Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2013Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	5743000
CY2013Q4	us-gaap	Liabilities Current LiabilitiesCurrent	12738000
CY2013Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	29322000
CY2013Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	28000
CY2013Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	313534000
CY2013Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	2381000
CY2013Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	369000
CY2013Q4	us-gaap	Stockholders Equity StockholdersEquity	21017000
CY2013Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-292617000
CY2013Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	25000
CY2013Q4	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2013Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1301000
CY2013Q4	us-gaap	Accrued Marketing Costs Current AccruedMarketingCostsCurrent	288000
CY2013Q4	us-gaap	Accrued Vacation Current AccruedVacationCurrent	466000
CY2013Q4	us-gaap	Common Stock Value CommonStockValue	100000
CY2013Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	63077000
CY2013Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	113000
CY2013Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	1428000
CY2013Q4	us-gaap	Inventory Net InventoryNet	1096000
CY2013Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	1226000
CY2013Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	4318000
CY2013Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	203000
CY2013Q4	us-gaap	Assets Assets	63077000
CY2013Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	54877000
CY2013Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	2000
CY2013Q4	us-gaap	Other Inventory Noncurrent OtherInventoryNoncurrent	4450000
CY2013Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	910000
CY2013Q4	us-gaap	Assets Current AssetsCurrent	58311000
CY2013Q4	cort	Accrued Government Rebate Current AccruedGovernmentRebateCurrent	40000
CY2013Q4	cort	Accrued Legal Fees Current AccruedLegalFeesCurrent	110000
CY2013Q4	cort	Accrued Clinical Expenses Current AccruedClinicalExpensesCurrent	3288000
CY2013Q4	cort	Inventory Current Noncurrent InventoryCurrentNoncurrent	5546000
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-20790000
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	99814000	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	23398000	shares
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.24
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	22000
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	3608000
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	298000
	dei	Document Period End Date DocumentPeriodEndDate	2014-06-30
	dei	Entity Central Index Key EntityCentralIndexKey	0001088856
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	181000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-21727000
	us-gaap	Net Income Loss NetIncomeLoss	-23981000
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	881000
	us-gaap	Share Based Compensation ShareBasedCompensation	2575000
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-20812000
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-22000
	us-gaap	Operating Expenses OperatingExpenses	25335000
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	16544000
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	21000
	us-gaap	Interest And Debt Expense InterestAndDebtExpense	2254000
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	269000
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-771000
	us-gaap	Cost Of Revenue CostOfRevenue	43000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	33000
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	19000
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2575000
	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	201000
	us-gaap	Accretion Expense AccretionExpense	2207000
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	8748000
	cort	Accounts Receivable Payment Terms AccountsReceivablePaymentTerms	P30D
	dei	Trading Symbol TradingSymbol	CORT
	dei	Entity Registrant Name EntityRegistrantName	CORCEPT THERAPEUTICS INC
	dei	Amendment Flag AmendmentFlag	false
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2014
	dei	Document Type DocumentType	10-Q
	us-gaap	Revenue Recognition Revenue Reductions RevenueRecognitionRevenueReductions	<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt; TEXT-INDENT: 4%"> <b>Net Product Sales</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> From our initial launch in April 2012 through June 30, 2013, we sold Korlym primarily to a specialty pharmacy and a specialty distributor, which subsequently resold Korlym to patients and healthcare providers. Korlym is not available in retail pharmacies. As of July 1, 2013, we began using Dohmen Life Science Services. (Dohmen), formerly known as Centric Health Resources, Inc., as our specialty pharmacy. Dohmen operates on a consignment basis, without carrying any Korlym inventory. Accordingly, all of our sales through Dohmen are made directly to patients.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> We recognize product revenues from sales of Korlym upon delivery to patients 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. Prior authorization or confirmation of coverage level by the patient’s private insurance plan or government payor is a prerequisite to the shipment of product to a patient. 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.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We make cash donations to a non-profit third party organization that provides patients who meet certain eligibility requirements with financial assistance for the treatment of Cushing’s syndrome, which treatment may include Korlym. We do not include in net product revenues sales of Korlym tablets to such patients funded through this source.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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 co-pay 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.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <i>Trade Allowances: </i>Through June 30, 2013, we offered our specialty pharmacy and specialty distributor customers a discount on Korlym sales for payment within 30 days. We also offered them a small discount for providing data services. We expected these customers to earn these discounts and, accordingly, deducted them in full from gross product revenues and trade receivables at the time we recognized such revenues. Beginning in the third quarter of 2013, we ceased incurring a prompt-payment discount to our specialty pharmacy.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <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.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <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.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <i>Sales Returns: </i>Because sales through Dohmen, our specialty pharmacy, are made to individual patients who do not have the right to return the product, our exposure to product returns is now limited to the specialty distributor channel and is not expected to be material.</p> </div>
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-20044000
	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.
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	100751000	shares
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	1100000	shares
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.21
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> <b>Credit Risks and Concentrations</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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 or by the entity or entities that issued the securities held by the fund to the extent of the amount recorded on our 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. We experienced no loss or lack of access to cash and cash equivalents in our operating or investment accounts during the three- and six-month periods ended June 30, 2014 and 2013.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We are exposed to credit risk in regard to our trade receivables with this risk being spread among various third-party payors – pharmacy benefit managers, insurance companies, private charities and government programs – and individual patients. We extend credit to third-party payors based on their creditworthiness. We monitor our exposure and will record a reserve against uncollectible trade receivables as necessary. To date, we have not incurred any credit losses.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We have a concentration of risk in regard to the manufacture of our product. As of June 30, 2014, we had one tablet manufacturer for Korlym with an operational facility – AAI Pharma Services Corp. (AAI). In addition, we have a single-source manufacturer of mifepristone, the active pharmaceutical ingredient (API), in Korlym - Produits Chimiques Auxiliaires et de Synthèse SA (PCAS). If either of these companies is unable to manufacture API or Korlym tablets in the quantities and time frame required, we may not be able to manufacture our product in a timely manner. In order to mitigate these risks related to the manufacture of our product, we placed orders for additional quantities of mifepristone API and Korlym tablets, which are now in inventory.</p> </div>
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	22662000	shares
	us-gaap	Use Of Estimates UseOfEstimates	<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt; TEXT-INDENT: 4%"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We evaluate our estimates and assumptions on an ongoing basis, including those related to our reserves for chargebacks and rebates, patient assistance, potential product returns and 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.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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.</p> </div>
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	Segment
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	158000
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-12000
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	10255000
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	2012000
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	797000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	1256000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-19440000
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	19000
	us-gaap	Interest And Debt Expense InterestAndDebtExpense	2041000
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	17769000
	us-gaap	Net Income Loss NetIncomeLoss	-21481000
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	94000
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-701000
	us-gaap	Share Based Compensation ShareBasedCompensation	2603000
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-20903000
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-158000
	us-gaap	Operating Expenses OperatingExpenses	29695000
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	323000
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	214000
	us-gaap	Financing Receivable Allowance For Credit Losses Write Offs FinancingReceivableAllowanceForCreditLossesWriteOffs	0
	us-gaap	Cost Of Revenue CostOfRevenue	389000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	65000
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	14000
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2603000
	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	-1645000
	us-gaap	Accretion Expense AccretionExpense	1979000
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	11537000
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	1311000
CY2013Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	99814000	shares
CY2013Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.12
CY2013Q2	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	1891000
CY2013Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-10783000
CY2013Q2	us-gaap	Net Income Loss NetIncomeLoss	-11897000
CY2013Q2	us-gaap	Operating Expenses OperatingExpenses	12674000
CY2013Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	8160000
CY2013Q2	us-gaap	Interest And Debt Expense InterestAndDebtExpense	1114000
CY2013Q2	us-gaap	Cost Of Revenue CostOfRevenue	23000
CY2013Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1265000
CY2013Q2	us-gaap	Accretion Expense AccretionExpense	1100000
CY2013Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	4491000
CY2014Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	100980000	shares
CY2014Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.07
CY2014Q2	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	5851000
CY2014Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-6581000
CY2014Q2	us-gaap	Net Income Loss NetIncomeLoss	-7552000
CY2014Q2	us-gaap	Operating Expenses OperatingExpenses	12432000
CY2014Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	7965000
CY2014Q2	us-gaap	Interest And Debt Expense InterestAndDebtExpense	971000
CY2014Q2	us-gaap	Cost Of Revenue CostOfRevenue	215000
CY2014Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1226000
CY2014Q2	us-gaap	Accretion Expense AccretionExpense	935000
CY2014Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	4252000

Files In Submission

Name	View Source	Status
0001193125-14-303137-index-headers.html	Edgar Link	pending
0001193125-14-303137-index.html	Edgar Link	pending
0001193125-14-303137.txt	Edgar Link	pending
0001193125-14-303137-xbrl.zip	Edgar Link	pending
cort-20140630.xml	Edgar Link	completed
cort-20140630.xsd	Edgar Link	pending
cort-20140630_cal.xml	Edgar Link	unprocessable
cort-20140630_def.xml	Edgar Link	unprocessable
cort-20140630_lab.xml	Edgar Link	unprocessable
cort-20140630_pre.xml	Edgar Link	unprocessable
d755155d10q.htm	Edgar Link	pending
d755155dex101.htm	Edgar Link	pending
d755155dex102.htm	Edgar Link	pending
d755155dex103.htm	Edgar Link	pending
d755155dex311.htm	Edgar Link	pending
d755155dex312.htm	Edgar Link	pending
d755155dex321.htm	Edgar Link	pending
d755155dex322.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xls	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
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R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$CORT
Corcept Therapeutics Inc Stock $cort

2014 Q3 Form 10-Q Financial Statement

#000119312514303137 Filed on August 08, 2014

Income Statement

Balance Sheet

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Files In Submission

$CORT Corcept Therapeutics Inc Stock $cort

2014 Q3 Form 10-Q Financial Statement

#000119312514303137 Filed on August 08, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CORT
Corcept Therapeutics Inc Stock $cort