Corcept Therapeutics Inc (CORT) Q1 2018 10-Q Quarterly Earnings

Short answer

Corcept Therapeutics Inc (CORT) filed its Q1 2018 10-Q quarterly report on May 9, 2018 for the quarter ended Mar 31, 2018.

AI summary of MD&A and risk factor updates

Net product revenue $57.7M, up from $27.6M YoY, driven by higher Korlym tablet sales
Cost-of-sales margin 98.0% vs 97.7% YoY, with costs at 2.0% vs 2.3% of revenue
Best performer Korlym, with January price increase contributing 8.8% of revenue growth
Cash, equivalents and marketable securities $140.4M vs $104.1M at December 31, 2017
Operating cash flow $34.4M vs $9.6M YoY, with $34.3M invested primarily in marketable securities
2018 outlook: higher R&D and SG&A spending, operations expected funded without additional financing

Generic Korlym threat triggered by Teva’s February 2018 ANDA and Paragraph IV patent challenge
Intellectual property litigation expanded after Corcept sued Teva in March 2018, imposing costly management and legal commitments
GDPR compliance risk effective May 2018, with substantial fines for personal-data breaches
Revenue concentration risk: Optime Care dispenses approximately 99% of Corcept’s revenue
Korlym exclusivity expiration in February 2019 could enable generic competition and materially reduce sales and pricing

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

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