Corcept Therapeutics Inc (CORT) Q2 2019 10-Q Quarterly Earnings

Short answer

Corcept Therapeutics Inc (CORT) filed its Q2 2019 10-Q quarterly report on Aug 1, 2019 for the quarter ended Jun 30, 2019.

AI summary of MD&A and risk factor updates

Quarterly net product revenue $72.3M, up $10.0M from $62.3M YoY
Cost-of-sales margin 98.1% versus 98.1% YoY, with cost of sales $1.4M
Endocrinology R&D highest at $8.7M, oncology $4.9M, preclinical programs lowest at $2.5M
Cash, equivalents and marketable securities $225.7M versus $206.7M at December 31, 2018
Operating cash flow $49.2M, share repurchases $31.0M, 2.8M shares acquired during six months ended June 30, 2019

Generic competition: Korlym’s orphan-drug exclusivity expired February 17, 2019, enabling FDA-approved generic challenges
Patent litigation: Teva and Sun sued over proposed Korlym generics, with outcomes uncertain
Reimbursement risk: PPACA challenges and drug-pricing measures could reduce Korlym coverage, reimbursement, and sales
Supply concentration: Optime Care collects payments representing approximately 99 percent of revenue
Competitive risk: Strongbridge’s levoketoconazole advanced through one completed Phase 3 trial and a second ongoing trial

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

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