2017 Q1 Form 10-Q Financial Statement
#000156459017008133 Filed on May 02, 2017
Income Statement
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| Revenue | $27.60M | $16.06M |
| YoY Change | 71.84% | 58.99% |
| Cost Of Revenue | $646.0K | $403.0K |
| YoY Change | 60.3% | 34.33% |
| Gross Profit | $26.95M | $15.66M |
| YoY Change | 72.14% | 59.78% |
| Gross Profit Margin | 97.66% | 97.49% |
| Selling, General & Admin | $15.04M | $10.43M |
| YoY Change | 44.14% | 10.39% |
| % of Gross Profit | 55.79% | 66.62% |
| Research & Development | $7.176M | $4.634M |
| YoY Change | 54.86% | 5.8% |
| % of Gross Profit | 26.62% | 29.6% |
| Depreciation & Amortization | $13.00K | $27.00K |
| YoY Change | -51.85% | |
| % of Gross Profit | 0.05% | 0.17% |
| Operating Expenses | $22.21M | $15.07M |
| YoY Change | 47.44% | 8.94% |
| Operating Profit | $4.740M | $592.0K |
| YoY Change | 700.68% | -114.69% |
| Interest Expense | -$270.0K | -$580.0K |
| YoY Change | -53.45% | -27.5% |
| % of Operating Profit | -5.7% | -97.97% |
| Other Income/Expense, Net | $50.00K | -$30.00K |
| YoY Change | -266.67% | |
| Pretax Income | $4.515M | -$19.00K |
| YoY Change | -23863.16% | -99.61% |
| Income Tax | $127.0K | $0.00 |
| % Of Pretax Income | 2.81% | |
| Net Earnings | $4.388M | -$19.00K |
| YoY Change | -23194.74% | -99.61% |
| Net Earnings / Revenue | 15.9% | -0.12% |
| Basic Earnings Per Share | $0.04 | |
| Diluted Earnings Per Share | $0.04 | -$182.40 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 112.9M | 109.7M |
| Diluted Shares Outstanding | 121.2M | 109.7M |
Balance Sheet
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $52.80M | $40.70M |
| YoY Change | 29.73% | 7.11% |
| Cash & Equivalents | $38.00M | $40.74M |
| Short-Term Investments | $14.80M | |
| Other Short-Term Assets | $1.800M | $1.100M |
| YoY Change | 63.64% | 83.33% |
| Inventory | $2.900M | $1.900M |
| Prepaid Expenses | ||
| Receivables | $9.200M | $6.800M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $66.70M | $50.50M |
| YoY Change | 32.08% | 14.25% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $300.0K | $100.0K |
| YoY Change | 200.0% | -50.0% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $4.500M | |
| YoY Change | ||
| Other Assets | $3.900M | $2.300M |
| YoY Change | 69.57% | -39.47% |
| Total Long-Term Assets | $8.639M | $2.400M |
| YoY Change | 259.96% | -40.0% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $66.70M | $50.50M |
| Total Long-Term Assets | $8.639M | $2.400M |
| Total Assets | $75.34M | $52.90M |
| YoY Change | 42.42% | 9.75% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $4.253M | $2.100M |
| YoY Change | 102.52% | 110.0% |
| Accrued Expenses | $9.938M | $5.600M |
| YoY Change | 77.46% | 47.37% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $10.11M | $16.30M |
| YoY Change | -37.99% | 52.34% |
| Total Short-Term Liabilities | $25.80M | $24.00M |
| YoY Change | 7.5% | 54.84% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $8.700M |
| YoY Change | -100.0% | -60.63% |
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $0.00 | $8.700M |
| YoY Change | -100.0% | -60.63% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $25.80M | $24.00M |
| Total Long-Term Liabilities | $0.00 | $8.700M |
| Total Liabilities | $25.80M | $32.70M |
| YoY Change | -21.1% | -13.26% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$317.9M | |
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $49.58M | $20.20M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $75.34M | $52.90M |
| YoY Change | 42.42% | 9.75% |
Cashflow Statement
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $4.388M | -$19.00K |
| YoY Change | -23194.74% | -99.61% |
| Depreciation, Depletion And Amortization | $13.00K | $27.00K |
| YoY Change | -51.85% | |
| Cash From Operating Activities | $9.600M | $3.300M |
| YoY Change | 190.91% | -283.33% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $110.0K | $22.00K |
| YoY Change | 400.0% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$19.30M | |
| YoY Change | ||
| Cash From Investing Activities | -$19.40M | $0.00 |
| YoY Change | ||
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | $4.832M | $3.041M |
| YoY Change | 58.9% | |
| Cash From Financing Activities | -3.700M | -3.000M |
| YoY Change | 23.33% | -119.35% |
| NET CHANGE | ||
| Cash From Operating Activities | 9.600M | 3.300M |
| Cash From Investing Activities | -19.40M | 0.000 |
| Cash From Financing Activities | -3.700M | -3.000M |
| Net Change In Cash | -13.50M | 300.0K |
| YoY Change | -4600.0% | -97.81% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $9.600M | $3.300M |
| Capital Expenditures | $110.0K | $22.00K |
| Free Cash Flow | $9.490M | $3.278M |
| YoY Change | 189.51% | -282.11% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2016Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
0 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
112710000 | |
| CY2016Q1 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
16061000 | |
| CY2017Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
646000 | |
| CY2016Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
403000 | |
| CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
27374000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| CY2016Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
113000 | |
| CY2016Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
363534000 | |
| CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-322268000 | |
| CY2017Q1 | cort |
Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
|
1461000 | |
| CY2017Q1 | us-gaap |
Assets
Assets
|
75339000 | |
| CY2017Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2017Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
10107000 | |
| CY2017Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
4253000 | |
| CY2017Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
49580000 | |
| CY2017Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
75339000 | |
| CY2017Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
9938000 | |
| CY2017Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
113112000 | |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
| CY2017Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
280000000 | |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2017Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2017Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| CY2017Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
113112000 | |
| CY2017Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-12000 | |
| CY2017Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-317880000 | |
| CY2017Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2017Q1 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
27599000 | |
| CY2016Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4634000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1963000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-6000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
985000 | |
| CY2017Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
19303000 | |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-19413000 | |
| CY2017Q1 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
1124000 | |
| CY2017Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
4832000 | |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-3708000 | |
| CY2017Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-13560000 | |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
40435000 | |
| CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
4740000 | |
| CY2016Q1 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
611000 | |
| CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
4388000 | |
| CY2016Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19000 | |
| CY2017Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
112867000 | |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
109661000 | |
| CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
41379000 | |
| CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
68753000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
280000000 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
112710000 | |
| CY2017Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="text-align:justify;margin-top:13pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:4pt;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with U.S. GAAP 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="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We evaluate our estimates and assumptions on an ongoing basis, including those related to revenue recognition, sales returns, inventory, allowances for doubtful accounts, accrued liabilities including our bonus accrual, clinical trial accruals, stock-based compensation and the timing of payments with respect to our long-term capped royalty obligation, which determines our interest expense. We base our estimates on relevant experience and on other specific assumptions that we believe are reasonable<font style="color:#000000;">.</font></p></div> | |
| CY2017Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div> <p style="text-align:justify;margin-top:4pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:4pt;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">We are subject to credit risk from our portfolio of cash, cash equivalents and marketable securities.  We limit our investments to U.S. Treasury obligations and high-grade corporate debt with less than a 36-month maturity.  We are not exposed to any significant concentration of credit from these investments.<font style="font-size:12pt;"> </font></p></div> | |
| CY2017Q1 | us-gaap |
Revenue Recognition Revenue Reductions
RevenueRecognitionRevenueReductions
|
<div> <p style="text-align:justify;margin-top:13pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Net Product Sales</p> <p style="text-align:justify;margin-top:4pt;margin-bottom:0pt;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">We primarily sell Korlym directly to patients through Dohmen, a specialty pharmacy. Prior authorization and confirmation of coverage by the patients’ private or government insurance plan or by a third-party charity is a prerequisite for Dohmen to ship Korlym to a patient. We recognize revenue upon the delivery of Korlym to these patients<font style="color:#000000;">.</font></p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We recognize revenue 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 Korlym 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="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Effective January 1, 2016, we recognize sales to our specialty distributor (SD) at the time of sale to the SD. Before that date, we did not recognize these sales until the SD had in turn sold to its customers. Sales to the SD were less than two percent of our revenue in the three months ended March 31, 2017.</p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We donate cash to patient support organizations that help patients with financial need pay for the treatment of Cushing syndrome. We do not include in revenue payments we receive from these organizations.</p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We calculate gross product revenues based on the price we charge our customers. We estimate our net product revenues by deducting from our gross product revenues (a) estimated government rebates and chargebacks, (b) estimated costs of our patient co-pay assistance program, (c) trade allowances, such as discounts for prompt payment and (d) reserves for expected product returns.  We initially record estimates for these deductions at the time we recognize the gross revenue. We update our estimates as new information becomes available<font style="color:#000000;">.</font></p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:4.54%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Rebates and Chargebacks:<font style="font-style:normal;">  </font><font style="color:#000000;font-style:normal;">We contract with Medicaid and other government agencies so that Korlym will be eligible for purchase by, or qualify for partial or full reimbursement from, Medicaid and other government programs. We estimate our rebate and chargeback amounts by applying the discount rates applicable to each government-funded program against our sales to patients covered by such programs</font><font style="font-style:normal;">.</font></p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:4.54%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Allowances for Patient Assistance Program:<font style="font-style:normal;">  </font><font style="color:#000000;font-style:normal;">We provide financial assistance to eligible patients whose insurance policies require them to pay high deductibles and co-payments. We calculate the cost of assistance by applying our program guidelines to the eligible sales in the period</font><font style="font-style:normal;">.</font></p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:4.54%;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Sales Returns<font style="font-style:normal;">: 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> | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-22000 | |
| CY2016Q1 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
75000 | |
| CY2016Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
3041000 | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-2966000 | |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
309000 | |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
40744000 | |
| CY2017Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7176000 | |
| CY2016Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
10432000 | |
| CY2017Q1 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
225000 | |
| CY2017Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
4515000 | |
| CY2016Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-19000 | |
| CY2017Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
127000 | |
| CY2017Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-12000 | |
| CY2016Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
0 | |
| CY2017Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
4376000 | |
| CY2016Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-19000 | |
| CY2017Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
121189000 | |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
109661000 | |
| CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2701000 | |
| CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1613000 | |
| CY2017Q1 | us-gaap |
Accretion Expense
AccretionExpense
|
270000 | |
| CY2016Q1 | us-gaap |
Accretion Expense
AccretionExpense
|
584000 | |
| CY2017Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
5000 | |
| CY2016Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
5000 | |
| CY2017Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
13000 | |
| CY2016Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
27000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-646000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
531000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1544000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-290000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-165000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
464000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
25000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
0 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
757000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-77000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
1270000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
0 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-158000 | |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
9561000 | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
3297000 | |
| CY2017Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
110000 | |
| CY2016Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
22000 | |
| CY2016Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
0 | |
| CY2017Q1 | cort |
Inventory Finished Goods Current And Noncurrent
InventoryFinishedGoodsCurrentAndNoncurrent
|
1372000 | |
| CY2016Q4 | cort |
Inventory Finished Goods Current And Noncurrent
InventoryFinishedGoodsCurrentAndNoncurrent
|
1902000 | |
| CY2017Q1 | cort |
Inventory Raw Materials Current And Noncurrent
InventoryRawMaterialsCurrentAndNoncurrent
|
3837000 | |
| CY2016Q4 | cort |
Inventory Raw Materials Current And Noncurrent
InventoryRawMaterialsCurrentAndNoncurrent
|
1848000 | |
| CY2017Q1 | cort |
Inventory Work In Process Current And Noncurrent
InventoryWorkInProcessCurrentAndNoncurrent
|
1499000 | |
| CY2016Q4 | cort |
Inventory Work In Process Current And Noncurrent
InventoryWorkInProcessCurrentAndNoncurrent
|
1414000 | |
| CY2017Q1 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
1998-05-01 | |
| CY2017Q1 | dei |
Entity Incorporation State Country Name
EntityIncorporationStateCountryName
|
Delaware | |
| CY2017Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2017Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
700000 | |
| CY2017Q1 | cort |
Inventory Current Noncurrent
InventoryCurrentNoncurrent
|
6708000 | |
| CY2016Q4 | cort |
Inventory Current Noncurrent
InventoryCurrentNoncurrent
|
5164000 | |
| CY2016Q4 | cort |
Accrued Government Rebate Current
AccruedGovernmentRebateCurrent
|
3426000 | |
| CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4702000 | |
| CY2016Q4 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
308000 | |
| CY2016Q4 | cort |
Accrued Legal Fees Current
AccruedLegalFeesCurrent
|
164000 | |
| CY2016Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
34000 | |
| CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
319000 | |
| CY2016 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
0 | |
| CY2017Q1 | cort |
Marketable Securities Maximum Maturity Period
MarketableSecuritiesMaximumMaturityPeriod
|
P2Y | |
| CY2017Q1 | cort |
Marketable Securities Weighted Average Maturity Period
MarketableSecuritiesWeightedAverageMaturityPeriod
|
P7M | |
| CY2017Q1 | us-gaap |
Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
|
0 | |
| CY2017Q1 | us-gaap |
Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
|
0 | |
| CY2017Q1 | cort |
Financing Agreement Covenant Window Period For Royalty Payments From Due Date
FinancingAgreementCovenantWindowPeriodForRoyaltyPaymentsFromDueDate
|
P30D | |
| CY2017Q1 | us-gaap |
Contractual Obligation
ContractualObligation
|
45000000 | |
| us-gaap |
Accretion Expense
AccretionExpense
|
14800000 | ||
| CY2016Q4 | us-gaap |
Contractual Obligation
ContractualObligation
|
45000000 | |
| CY2017Q1 | cort |
Contractual Obligation Unamortized Discount Premium Net
ContractualObligationUnamortizedDiscountPremiumNet
|
186000 | |
| CY2016Q4 | cort |
Contractual Obligation Unamortized Discount Premium Net
ContractualObligationUnamortizedDiscountPremiumNet
|
456000 | |
| CY2017Q1 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
9000 | |
| CY2016Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
14000 | |
| CY2017Q1 | cort |
Contractual Obligation Payment To Date
ContractualObligationPaymentToDate
|
34698000 | |
| CY2016Q4 | cort |
Contractual Obligation Payment To Date
ContractualObligationPaymentToDate
|
29866000 | |
| CY2017Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
0 | |
| CY2016Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
0 | |
| CY2017Q1 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
140000 | |
| CY2017Q1 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2019-03-31 | |
| CY2017Q1 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
251000 | |
| CY2017Q1 | cort |
Number Of Stock Option Plans
NumberOfStockOptionPlans
|
2 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
279000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
0 | |
| CY2016Q1 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
176000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
703000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
1115000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
2097000 | |
| CY2017Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
402000 | |
| CY2017Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2701000 | |
| CY2016Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1613000 | |
| CY2017Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
8322000 | |
| CY2016Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | |
| CY2017Q1 | cort |
Earnings Per Share Potentially Dilutive Securities Stock Options Outstanding
EarningsPerSharePotentiallyDilutiveSecuritiesStockOptionsOutstanding
|
20880000 | |
| CY2016Q1 | cort |
Earnings Per Share Potentially Dilutive Securities Stock Options Outstanding
EarningsPerSharePotentiallyDilutiveSecuritiesStockOptionsOutstanding
|
18839000 | |
| CY2016Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 |
