Corcept Therapeutics Inc (CORT) Q2 2018 10-Q Quarterly Earnings

Short answer

Corcept Therapeutics Inc (CORT) filed its Q2 2018 10-Q quarterly report on Aug 9, 2018 for the quarter ended Jun 30, 2018.

AI summary of MD&A and risk factor updates

Revenue $62.3M, up from $35.6M YoY, driven primarily by higher Korlym tablet sales
Cost-of-sales margin 98.1% vs 97.8% YoY, with cost of sales 1.9% vs 2.2% of revenue
Best-performing product line: Korlym, with $62.3M quarterly net product revenue
Cash, equivalents and marketable securities $160.0M, including $31.2M cash and $128.8M securities
2018 R&D spending expected above 2017, with relacorilant trials and CORT118335 and CORT125281 development advancing

New legal risk, Teva’s February 2018 ANDA triggered patent litigation and a statutory 30-month FDA approval stay
New intellectual-property risk, Neptune’s August 2, 2018 IPR petition challenges the ‘348 patent covering Korlym methods
Regulatory risk, GDPR effective May 25, 2018 carries penalties up to €20 million or 4% of worldwide annual revenue
Commercial risk, Korlym orphan-drug exclusivity expires February 2019, potentially enabling generic competition
Concentration risk, Optime dispenses approximately 99% of revenue-generating Korlym sales

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

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