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CORT

Corcept Therapeutics Incorporated

CORT

Corcept Therapeutics Incorporated • NASDAQ
$79.40 ▼ -0.50% (-0.40)
Market Cap $8.35 B
52w High $117.33
52w Low $49.00
Dividend Yield 0%
P/E 91.26
Volume 201.50K
Outstanding Shares 105.19M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $207.638M ▲ $192.823M ▲ $19.359M ▼ 9.323% ▼ $0.19 ▼ $15.72M ▼
Q2-2025 $194.43M ▲ $164.322M ▲ $35.149M ▲ 18.078% ▲ $0.33 ▲ $27.144M ▲
Q1-2025 $157.214M ▼ $151.395M ▼ $20.288M ▼ 12.905% ▼ $0.19 ▼ $3.878M ▼
Q4-2024 $181.89M ▼ $153.672M ▲ $30.389M ▼ 16.707% ▼ $0.29 ▼ $25.722M ▼
Q3-2024 $182.546M $133.081M $46.69M 25.577% $0.45 $47.097M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $421.683M ▲ $823.607M ▲ $191.705M ▲ $631.902M ▼
Q2-2025 $342.226M ▲ $801.722M ▼ $165.929M ▲ $635.793M ▼
Q1-2025 $322.763M ▼ $846.455M ▲ $163.17M ▲ $683.285M ▲
Q4-2024 $383.334M ▲ $840.553M ▲ $160.964M ▲ $679.589M ▲
Q3-2024 $380.336M $784.257M $145.422M $638.835M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $19.359M ▼ $54.481M ▲ $14.645M ▼ $-46.413M ▲ $22.393M ▲ $54.481M ▲
Q2-2025 $35.149M ▲ $43.939M ▲ $70.127M ▲ $-102.934M ▼ $12.926M ▲ $43.882M ▲
Q1-2025 $20.547M ▼ $5.128M ▼ $-3.171M ▲ $-39.803M ▼ $-37.846M ▼ $5.024M ▼
Q4-2024 $30.389M ▼ $59.3M ▼ $-64.36M ▼ $-4.564M ▲ $-9.624M ▼ $59.179M ▼
Q3-2024 $46.69M $73.829M $-44.036M $-21.092M $8.701M $72.194M

Five-Year Company Overview

Income Statement

Income Statement Over the past several years, Corcept’s income statement shows a rare combination for a biotech company: steady growth and consistent profitability. Revenue has climbed each year, and gross margins are very high, meaning most of each sales dollar is kept after direct costs. Operating profit and net income have both moved upward in a relatively smooth way, with earnings per share trending higher as well. This suggests disciplined cost control, a focused commercial model, and solid demand for its main product. The flip side is concentration risk: much of this performance is still driven by a narrow product base, so future results will be sensitive to how that franchise and the pipeline evolve.

Balance Sheet

Balance Sheet The balance sheet looks conservative and sturdy. Total assets and shareholder equity have grown, showing that the business is building underlying value rather than relying on heavy borrowing. Cash levels are healthy, even though they have moved down from earlier peaks as the company invests in growth. Debt is essentially negligible, which greatly reduces financial risk and interest burden. Overall, Corcept appears to be funding its expansion largely from its own profits, which gives it more flexibility if industry conditions or trial outcomes become challenging.

Cash Flow

Cash Flow Cash generation is a key strength. Operating cash flow has been consistently positive and generally tracks the growth in profits, which indicates that reported earnings are backed by real cash, not just accounting. Free cash flow is also positive because capital spending needs are modest. This pattern gives Corcept ample internal resources to fund clinical trials, expand its commercial footprint, and defend its patent estate without needing to tap the capital markets aggressively. The main risk is that future R&D or launch costs could temporarily pull cash flow down if several programs ramp up at once.

Competitive Edge

Competitive Edge Corcept has carved out a specialized position as an expert in cortisol modulation, a relatively narrow but complex field. Its main product and pipeline are protected by an extensive web of patents that extend well into the next decade, creating meaningful barriers for would‑be competitors. Deep scientific know‑how and years of focused work around the glucocorticoid receptor add another layer of defense that is hard to replicate quickly. At the same time, the company remains much smaller than large pharmaceutical rivals and still depends heavily on a single marketed drug, so it faces ongoing risks from patent challenges, new competing therapies, and pricing or reimbursement pressures in its niche markets.

Innovation and R&D

Innovation and R&D Innovation is at the heart of Corcept’s strategy. The company has spent decades building a proprietary library of cortisol modulators and is now advancing a next‑generation drug, relacorilant, designed to be more selective and potentially safer than its first product. Clinical work spans several areas: Cushing’s syndrome, certain cancers, and metabolic and neurological conditions. Upcoming regulatory decisions, especially in Cushing’s and ovarian cancer, are likely to be major turning points for the company’s long‑term profile. However, like all drug development, this work carries high uncertainty: trials can miss endpoints, timelines can slip, and even successful studies can face regulatory or commercial hurdles. R&D spending will likely remain substantial as Corcept tries to broaden beyond its original indication.

Summary

Corcept looks unusual among smaller biotech companies: it is already profitable, generates solid cash flow, and carries almost no debt, all while maintaining a focused but promising pipeline. Financial results have trended steadily upward, reflecting strong demand for its main product and careful cost management. The company’s niche expertise in cortisol modulation and its substantial patent portfolio provide a meaningful competitive moat, but also tie its fortunes closely to a limited number of products and regulatory decisions. The big questions ahead are whether its next‑generation therapies win approval, how broadly they can be used across indications, and how well Corcept can diversify its revenue base over time while managing the inherent risks of drug development.

NEWS

November 4, 2025 · 4:05 PM UTC

Corcept Therapeutics Announces Third Quarter Financial Results, Oncology Development Programs and Provides Corporate Update

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October 28, 2025 · 4:05 PM UTC

Corcept Therapeutics to Announce Third Quarter Financial Results, Provide Corporate Update and Host Conference Call

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October 19, 2025 · 5:15 AM UTC

Corcept Presents ESMO 2025 Late-Breaker: Relacorilant Demonstrates Benefit in Patients with Platinum-Resistant Ovarian Cancer with Prior PARP Inhibitor Treatment

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October 14, 2025 · 8:00 AM UTC

Corcept Submits Marketing Authorization Application to European Medicines Agency for Relacorilant as a Treatment for Patients with Platinum-Resistant Ovarian Cancer

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October 1, 2025 · 9:00 AM UTC

Curant Rare Announces Pharmacy Partnership with Corcept Therapeutics

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