Corcept Therapeutics Inc (CORT) Q3 2017 10-Q Quarterly Earnings

Short answer

Corcept Therapeutics Inc (CORT) filed its Q3 2017 10-Q quarterly report on Nov 3, 2017 for the quarter ended Sep 30, 2017.

AI summary of MD&A and risk factor updates

Quarterly revenue $42.8M, up from $21.7M YoY, driven by higher volume and January 2017 price increase
Cost-of-sales margin 97.7% vs 96.9% YoY, with costs 2.3% vs 3.1% of revenue
Best product line: Korlym, sole commercial product, $42.8M quarterly revenue
Cash, equivalents and marketable securities $76.7M vs $51.5M at December 2016; operating cash flow $36.1M
Higher 2017 spending expected for research and development and selling, general and administrative activities

Regulatory risk: October 12, 2017 Executive Order and halted ACA cost-sharing reduction payments created uncertainty over Korlym coverage and demand
Compliance risk: Alleged off-label promotion could trigger FDA enforcement, False Claims Act liability, civil fines, or criminal penalties
Operational risk: Third-party vendors supply all Korlym API, tablets, and dispensing, creating single-source continuity exposure
Market risk: Novartis’ Signifor and osilodrostat programs, plus Strongbridge’s Phase 3 trials, intensify Cushing’s syndrome competition
Financial risk: Korlym revenue remains the sole funding source for commercial operations and development programs

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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