2021 Q4 Form 10-K Financial Statement

#000162828022002714 Filed on February 15, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $98.82M $366.0M $85.74M
YoY Change 15.26% 3.42% -2.46%
Cost Of Revenue $1.354M $5.281M $1.250M
YoY Change 8.32% -5.39% -13.19%
Gross Profit $97.47M $360.7M $84.48M
YoY Change 15.37% 3.56% -2.29%
Gross Profit Margin 98.63% 98.56% 98.54%
Selling, General & Admin $32.28M $122.4M $25.70M
YoY Change 25.62% 16.17% -5.27%
% of Gross Profit 33.12% 33.92% 30.42%
Research & Development $28.52M $113.9M $28.28M
YoY Change 0.85% -0.78% 16.33%
% of Gross Profit 29.26% 31.57% 33.47%
Depreciation & Amortization $289.0K $1.072M $100.0K
YoY Change 189.0% 104.19% -50.0%
% of Gross Profit 0.3% 0.3% 0.12%
Operating Expenses $60.80M $236.2M $53.98M
YoY Change 12.64% 7.33% 4.94%
Operating Profit $36.66M $124.5M $30.50M
YoY Change 20.21% -2.91% -12.9%
Interest Expense $72.00K $529.0K $300.0K
YoY Change -76.0% -84.44% -79.17%
% of Operating Profit 0.2% 0.42% 0.98%
Other Income/Expense, Net $529.0K
YoY Change
Pretax Income $36.74M $125.0M $30.81M
YoY Change 19.23% -5.01% -15.5%
Income Tax $4.683M $12.49M $4.810M
% Of Pretax Income 12.75% 9.99% 15.61%
Net Earnings $32.05M $112.5M $25.99M
YoY Change 23.31% 6.13% -11.53%
Net Earnings / Revenue 32.44% 30.74% 30.32%
Basic Earnings Per Share $0.97 $0.22
Diluted Earnings Per Share $262.0K $0.89 $0.20
COMMON SHARES
Basic Shares Outstanding 115.5M shares 115.7M shares 116.2M shares
Diluted Shares Outstanding 126.0M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $223.5M $223.5M $440.7M
YoY Change -49.28% -49.28% 59.69%
Cash & Equivalents $77.62M $77.62M $76.19M
Short-Term Investments $145.9M $145.9M $364.5M
Other Short-Term Assets $10.32M $10.32M $6.700M
YoY Change 53.96% 53.96% 11.67%
Inventory $4.988M $4.988M $4.910M
Prepaid Expenses
Receivables $27.63M $27.63M $26.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $266.5M $266.5M $478.5M
YoY Change -44.31% -44.31% 55.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.002M $1.516M $1.675M
YoY Change -40.18% -63.9% 59.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $112.3M $112.3M $36.20M
YoY Change 210.16% 210.16% -8.12%
Other Assets $3.083M $43.50M $5.000M
YoY Change -38.34% -17.77% 45.01%
Total Long-Term Assets $157.3M $157.3M $93.23M
YoY Change 68.72% 68.77% -11.17%
TOTAL ASSETS
Total Short-Term Assets $266.5M $266.5M $478.5M
Total Long-Term Assets $157.3M $157.3M $93.23M
Total Assets $423.8M $423.8M $571.7M
YoY Change -25.88% -25.88% 38.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.908M $6.908M $10.55M
YoY Change -34.55% -34.83% 40.03%
Accrued Expenses $27.67M $40.12M $21.19M
YoY Change 30.58% 8.73% -8.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.54M $47.54M $47.49M
YoY Change 0.1% 0.09% 22.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $409.0K $409.0K $900.0K
YoY Change -54.56% -54.56% -60.87%
Total Long-Term Liabilities $409.0K $409.0K $900.0K
YoY Change -54.56% -54.56% -60.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.54M $47.54M $47.49M
Total Long-Term Liabilities $409.0K $409.0K $900.0K
Total Liabilities $47.95M $47.95M $48.39M
YoY Change -0.92% -0.93% 17.66%
SHAREHOLDERS EQUITY
Retained Earnings $195.0M $82.46M
YoY Change 136.45% -450.06%
Common Stock $591.5M $516.3M
YoY Change 14.57% 12.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 5.300M shares
Shareholders Equity $375.8M $375.8M $523.3M
YoY Change
Total Liabilities & Shareholders Equity $423.8M $423.8M $571.7M
YoY Change -25.88% -25.88% 38.66%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $32.05M $112.5M $25.99M
YoY Change 23.31% 6.13% -11.53%
Depreciation, Depletion And Amortization $289.0K $1.072M $100.0K
YoY Change 189.0% 104.19% -50.0%
Cash From Operating Activities $49.43M $167.9M $35.10M
YoY Change 40.82% 10.48% -27.48%
INVESTING ACTIVITIES
Capital Expenditures -$65.00K $469.0K -$400.0K
YoY Change -83.75% -62.12% 300.0%
Acquisitions
YoY Change
Other Investing Activities $140.5M $136.6M $11.70M
YoY Change 1101.16% -215.76% -118.93%
Cash From Investing Activities $140.5M $136.1M $11.20M
YoY Change 1154.21% -214.14% -118.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -207.0M -$302.6M -700.0K
YoY Change 29467.0% -2577.41% 600.0%
NET CHANGE
Cash From Operating Activities 49.43M $167.9M 35.10M
Cash From Investing Activities 140.5M $136.1M 11.20M
Cash From Financing Activities -207.0M -$302.6M -700.0K
Net Change In Cash -17.07M $1.427M 45.60M
YoY Change -137.44% -96.82% -432.85%
FREE CASH FLOW
Cash From Operating Activities $49.43M $167.9M $35.10M
Capital Expenditures -$65.00K $469.0K -$400.0K
Free Cash Flow $49.49M $167.4M $35.50M
YoY Change 39.41% 11.07% -26.8%

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CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3514000 USD
CY2019 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1044000 USD
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3597000 USD
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
653000 USD
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1696000 USD
CY2021 us-gaap Increase Decrease In Other Operating Assets
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-1917000 USD
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1552000 USD
CY2019 us-gaap Increase Decrease In Other Operating Assets
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3398000 USD
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3597000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3161000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-735000 USD
CY2021 us-gaap Increase Decrease In Other Current Liabilities
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-1262000 USD
CY2020 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
7227000 USD
CY2019 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
2956000 USD
CY2021 us-gaap Increase Decrease In Other Accrued Liabilities
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6479000 USD
CY2020 us-gaap Increase Decrease In Other Accrued Liabilities
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-2083000 USD
CY2019 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Accrued Taxes Payable
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11000 USD
CY2020 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
12000 USD
CY2019 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
147000 USD
CY2021 us-gaap Increase Decrease In Operating Lease Liability
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-2025000 USD
CY2020 us-gaap Increase Decrease In Operating Lease Liability
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-1685000 USD
CY2019 us-gaap Increase Decrease In Operating Lease Liability
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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151970000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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136117000 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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469000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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1238000 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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1088000 USD
CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2020 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2019 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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0 USD
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
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312805000 USD
CY2020 us-gaap Payments To Acquire Available For Sale Securities Debt
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420114000 USD
CY2019 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2020 us-gaap Proceeds From Issuance Or Sale Of Equity
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23226000 USD
CY2019 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1067000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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12214000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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1427000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41625000 USD
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77617000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76190000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31269000 USD
CY2021 us-gaap Income Taxes Paid
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CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
10856000 USD
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
6744000 USD
CY2021 cort Shares Repurchased In Net Settlement Of Cashless Option Exercise
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15796000 USD
CY2020 cort Shares Repurchased In Net Settlement Of Cashless Option Exercise
SharesRepurchasedInNetSettlementOfCashlessOptionExercise
2079000 USD
CY2019 cort Shares Repurchased In Net Settlement Of Cashless Option Exercise
SharesRepurchasedInNetSettlementOfCashlessOptionExercise
1983000 USD
CY2021 cort Non Cash Transaction Recognition Of Right Of Use Asset And Lease Liability
NonCashTransactionRecognitionOfRightOfUseAssetAndLeaseLiability
0 USD
CY2020 cort Non Cash Transaction Recognition Of Right Of Use Asset And Lease Liability
NonCashTransactionRecognitionOfRightOfUseAssetAndLeaseLiability
775000 USD
CY2019 cort Non Cash Transaction Recognition Of Right Of Use Asset And Lease Liability
NonCashTransactionRecognitionOfRightOfUseAssetAndLeaseLiability
4913000 USD
CY2019 us-gaap Stock Issued During Period Value Stock Options Exercised
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10402000 USD
CY2019 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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8072000 USD
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax
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331000 USD
CY2019 us-gaap Treasury Stock Value Acquired Cost Method
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30975000 USD
CY2019 us-gaap Net Income Loss
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CY2019Q4 us-gaap Stockholders Equity
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371182000 USD
CY2020 us-gaap Stock Issued During Period Value Stock Options Exercised
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25305000 USD
CY2020 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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3146000 USD
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
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154000 USD
CY2020 us-gaap Treasury Stock Value Acquired Cost Method
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9945000 USD
CY2020 us-gaap Net Income Loss
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106011000 USD
CY2020Q4 us-gaap Stockholders Equity
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523338000 USD
CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
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32046000 USD
CY2021 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021 us-gaap Net Income Loss
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112512000 USD
CY2021Q4 us-gaap Stockholders Equity
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375806000 USD
CY2021 cort Number Of Series Of Selective Cortisol Modulators
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4 series
CY2021 cort Number Of Compounds
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1000 compound
CY2021 us-gaap Use Of Estimates
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<div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We reevaluate our estimates and assumptions each quarter, including those related to revenue recognition, recognition and measurement of income tax assets and liabilities, inventory, allowances for doubtful accounts and other accrued liabilities, including our bonus accrual, clinical trial accruals and stock-based compensation.</span></div>
CY2021 us-gaap Concentration Risk Credit Risk
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<div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Credit and Concentration Risks</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our cash, cash equivalents and marketable securities are held in one financial institution. We are subject to credit risk from our cash equivalents and marketable securities. We limit our investments to U.S. Treasury obligations and high-grade corporate debt and asset-backed securities with less than a 36-month maturity at the time of purchase. These investments are diversified and do not expose us to concentrations of credit risk. We have never experienced a loss in, or lack of access to, our operating or investment accounts.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have a single-source manufacturer of mifepristone, the active pharmaceutical ingredient (“API”), in Korlym - Produits Chimiques Auxiliaires et de Synthèse SA (“PCAS,” a member of the Seqens Group). If PCAS is unable or unwilling to manufacture API in the amounts and time frames required, we may not be able to manufacture Korlym in a timely manner. In order to mitigate this risk, we have purchased and hold in inventory a reserve quantity of mifepristone.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have a concentration of risk in regard to the distribution of our product. A single specialty pharmacy, Optime Care, Inc. (“Optime”), dispenses Korlym to patients for us. Optime is an independent third party. Its unwillingness or inability to dispense Korlym to patients in a timely manner would harm our business.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We sell Korlym that Optime dispenses directly to patients, with title to the medicine passing directly from us to the patient upon the patient’s receipt of the drug. Our receivables risk is spread among various third-party payers - pharmacy benefit managers, insurance companies, government programs and private charities. We monitor our exposure and record an allowance against uncollectible trade receivables as necessary. To date, we have not incurred any credit losses.</span></div>
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11479000 USD
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
25157000 USD
CY2019 cort Provision For Doubtful Accounts Prior Period Sales
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-95000 USD
CY2021 us-gaap Number Of Operating Segments
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1 segment
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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28055000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
8486000 USD
CY2020 cort Provision For Doubtful Accounts Current Period Sales
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28217000 USD
CY2020 cort Provision For Doubtful Accounts Prior Period Sales
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634000 USD
CY2020 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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26494000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
9575000 USD
CY2021 cort Provision For Doubtful Accounts Current Period Sales
ProvisionForDoubtfulAccountsCurrentPeriodSales
34103000 USD
CY2021 cort Provision For Doubtful Accounts Prior Period Sales
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1076000 USD
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
31378000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11224000 USD
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
1900000 USD
CY2020Q4 cort Inventory Work In Process Current And Noncurrent
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12916000 USD
CY2021Q4 cort Inventory Finished Goods Current And Noncurrent
InventoryFinishedGoodsCurrentAndNoncurrent
6500000 USD
CY2020Q4 cort Inventory Finished Goods Current And Noncurrent
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6556000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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303283000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
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451226000 USD
CY2021Q4 us-gaap Interest Receivable Current
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1400000 USD
CY2020Q4 us-gaap Interest Receivable Current
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1300000 USD
CY2021 cort Marketable Securities Maximum Maturity Period
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P2Y
CY2021 cort Marketable Securities Weighted Average Maturity Period
MarketableSecuritiesWeightedAverageMaturityPeriod
P8M
CY2021Q4 cort Inventory Raw Materials Current And Noncurrent
InventoryRawMaterialsCurrentAndNoncurrent
0 USD
CY2020Q4 cort Inventory Raw Materials Current And Noncurrent
InventoryRawMaterialsCurrentAndNoncurrent
1685000 USD
CY2021Q4 cort Inventory Work In Process Current And Noncurrent
InventoryWorkInProcessCurrentAndNoncurrent
11450000 USD
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
1500000 USD
CY2021Q4 cort Inventory Current Noncurrent
InventoryCurrentNoncurrent
17950000 USD
CY2020Q4 cort Inventory Current Noncurrent
InventoryCurrentNoncurrent
21157000 USD
CY2021Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
12962000 USD
CY2020Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
16247000 USD
CY2021Q4 us-gaap Inventory Net
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4988000 USD
CY2020Q4 us-gaap Inventory Net
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4910000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
3927000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
3528000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
2925000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
1853000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
1002000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
1675000 USD
CY2021Q4 us-gaap Accrued Income Taxes Current
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13339000 USD
CY2020Q4 us-gaap Accrued Income Taxes Current
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10144000 USD
CY2021Q4 cort Accrued Government Rebate Current
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11174000 USD
CY2020Q4 cort Accrued Government Rebate Current
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9412000 USD
CY2021Q4 us-gaap Accrued Marketing Costs Current
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1351000 USD
CY2020Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
665000 USD
CY2021Q4 cort Accrued Legal Fees Current
AccruedLegalFeesCurrent
842000 USD
CY2020Q4 cort Accrued Legal Fees Current
AccruedLegalFeesCurrent
612000 USD
CY2021Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
513000 USD
CY2020Q4 us-gaap Taxes Payable Current
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0 USD
CY2021Q4 us-gaap Accrued Professional Fees Current
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150000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
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151000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
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296000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
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202000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
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27665000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
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21186000 USD
CY2021Q4 cort Deposits For Clinical Trials
DepositsForClinicalTrials
2900000 USD
CY2020Q4 cort Deposits For Clinical Trials
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4800000 USD
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
2100000 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
2104000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
1840000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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775000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3M
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P15M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.048
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.048
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
530000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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530000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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4000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
526000 USD
CY2021Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
4600000 shares
CY2021 cort Number Of Stock Option Plans
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2 stockOptionPlan
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2800000 shares
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2900000 shares
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
34024000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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9041000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
24946000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.62
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
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4669000 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5460000 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5460000 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
26.75
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
4632000 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.92
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
78900000 USD
CY2021 cort Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Number Of Shares Available
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodNumberOfSharesAvailable
1321000 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1321000 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
18.07
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
9571000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P6Y4M20D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M29D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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187250000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
26600000 USD
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
40400000 USD
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
34000000 USD
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
30200000 USD
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0076
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0.0120
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P6Y3M18D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.607
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.591
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.674
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.06
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.55
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.09
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237000 USD
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238000 USD
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120000 USD
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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43168000 USD
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
33777000 USD
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SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
29433000 USD
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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116676000 USD
CY2021 us-gaap Current Federal Tax Expense Benefit
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4675000 USD
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CY2019 us-gaap Current Federal Tax Expense Benefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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DeferredFederalIncomeTaxExpenseBenefit
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CY2021 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
9741000 USD
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FederalIncomeTaxExpenseBenefitContinuingOperations
20512000 USD
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FederalIncomeTaxExpenseBenefitContinuingOperations
17660000 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
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3432000 USD
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CurrentStateAndLocalTaxExpenseBenefit
5368000 USD
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CurrentStateAndLocalTaxExpenseBenefit
3900000 USD
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DeferredStateAndLocalIncomeTaxExpenseBenefit
-274000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
520000 USD
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DeferredStateAndLocalIncomeTaxExpenseBenefit
935000 USD
CY2021 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
3158000 USD
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StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
5888000 USD
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StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
4835000 USD
CY2021 us-gaap Current Foreign Tax Expense Benefit
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41000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
41000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 USD
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-446000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-850000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 USD
CY2021 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-405000 USD
CY2020 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-809000 USD
CY2019 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
0 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12494000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25591000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22495000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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5412000 USD
CY2021Q4 cort Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
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3412000 USD
CY2020Q4 cort Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
5139000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
9953000 USD
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15107000 USD
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17831000 USD
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14043000 USD
CY2021Q4 cort Deferred Tax Assets Operating Lease Liability
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130000 USD
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630000 USD
CY2021Q4 us-gaap Deferred Tax Assets Other
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3851000 USD
CY2020Q4 us-gaap Deferred Tax Assets Other
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3473000 USD
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
40554000 USD
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
43804000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
12972000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11581000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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127000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
620000 USD
CY2021Q4 us-gaap Deferred Income Tax Liabilities
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127000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
620000 USD
CY2021Q4 us-gaap Deferred Tax Assets Net
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27455000 USD
CY2020Q4 us-gaap Deferred Tax Assets Net
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31603000 USD
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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1400000 USD
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
200000 USD
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
200000 USD
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
26251000 USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
27636000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
24502000 USD
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
7579000 USD
CY2020 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
6666000 USD
CY2019 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
4504000 USD
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
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2495000 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
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4651000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
3819000 USD
CY2021 cort Income Tax Reconciliation Nondeductible Expense Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseCompensationCost
990000 USD
CY2020 cort Income Tax Reconciliation Nondeductible Expense Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseCompensationCost
1508000 USD
CY2019 cort Income Tax Reconciliation Nondeductible Expense Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseCompensationCost
657000 USD
CY2021 cort Income Tax Reconciliation Nondeductible Expense Benefit Share Based Compensation
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9568000 USD
CY2020 cort Income Tax Reconciliation Nondeductible Expense Benefit Share Based Compensation
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1551000 USD
CY2019 cort Income Tax Reconciliation Nondeductible Expense Benefit Share Based Compensation
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2107000 USD
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Other
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-95000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
13000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
128000 USD
CY2021 us-gaap Income Tax Expense Benefit
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12494000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25591000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22495000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
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7471000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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103000 USD
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158000 USD
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261000 USD
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 USD
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 USD
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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1663000 USD
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1012000 USD
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0 USD
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
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0 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
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6029000 USD
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7500000 USD
CY2020Q4 cort Unrecognized Tax Benefits That Would Be Offset By A Change In Valuation Allowance
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1700000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
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0 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
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0 USD
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0 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
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0 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
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0 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
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0 USD
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
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0 USD
CY2021 us-gaap Loss Contingency Accrual Provision
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0 USD

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