CORCEPT THERAPEUTICS INC
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
CORT$73.35-2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $27,762 | $15,879 |
| Adjustments to reconcile net income to net cash provided by operations: | ||
| Stock-based compensation | 13,249 | 11,141 |
| (Accretion) of discount on marketable securities, net | (2,859) | (1,503) |
| Amortization of cloud computing arrangements | 52 | 119 |
| Depreciation and amortization of property and equipment | 68 | 172 |
| Deferred income taxes | (7,162) | (6,726) |
| Non-cash amortization of right-of-use asset | 59 | 568 |
| Changes in operating assets and liabilities: | ||
| Trade receivables | (20,395) | (1,500) |
| Insurance recovery receivable related to Melucci litigation | 14,000 | — |
| Inventory | 983 | 558 |
| Prepaid expenses and other current assets | 3,612 | 729 |
| Other assets | 153 | — |
| Accounts payable | (4,861) | (649) |
| Accrued research and development expenses | 3,494 | (592) |
| Accrued and other liabilities | 9,114 | 8,027 |
| Accrued Settlement related to Melucci litigation | (14,000) | — |
| Long-term accrued income taxes | 562 | 302 |
| Operating lease liability | (75) | (568) |
| Net cash provided by operating activities | 23,756 | 25,957 |
| Cash flows from investing activities: | ||
| Proceeds from maturities of marketable securities | 68,862 | 207,475 |
| Purchases of marketable securities | (77,876) | — |
| Net cash (used in) provided by investing activities | (9,014) | 207,475 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock under our incentive award plan, net of issuance costs | 749 | 1,409 |
| Proceeds from purchases under the Employee Stock Purchase Program | 940 | — |
| Repurchase of common stock in connection with Stock Repurchase Program | (476) | — |
| Cash paid to satisfy statutory withholding requirement for net settlement of cashless option exercises and vesting of restricted stock grants | (1,756) | (1,228) |
| Net cash (used in) provided by financing activities | (543) | 181 |
| Net increase in cash and cash equivalents | 14,199 | 233,613 |
| Cash and cash equivalents, at beginning of period | 135,551 | 66,329 |
| Cash and cash equivalents, at end of period | $149,750 | $299,942 |
| Supplemental disclosure: | ||
| Exercise cost of shares repurchased for net settlement of cashless option exercises | $1,798 | $5,246 |
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