Every material Form 8-K Corcept Therapeutics filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Corcept reported third-quarter 2024 revenue of $182.5 million, up 48% from a year earlier, and net income of $47.2 million. The company raised its full-year 2024 revenue guidance to $675 million-$700 million, from $640 million-$670 million, and said Phase 3 GRADIENT trial results support its planned new drug application for relacorilant in Cushing's syndrome.
Q3 2024 revenue $182.5 million vs. $123.6 million in Q3 2023
Diluted net income per share $0.41 vs. $0.28 a year earlier
2024 revenue guidance raised to $675 million-$700 million from $640 million-$670 million
Relacorilant NDA submission for Cushing's syndrome expected this quarter; cash and investments $547.6 million at September 30, 2024
Corcept Therapeutics reported second-quarter 2024 revenue of $163.8 million, up 39% from a year earlier, and raised its full-year 2024 revenue guidance to $640 million to $670 million from $620 million to $650 million. Diluted earnings per share were $0.32, compared with $0.25 in the second quarter of 2023, though operating expenses rose to $128.2 million from $88.1 million.
Q2 2024 revenue of $163.8 million, versus $117.7 million in Q2 2023
Diluted EPS of $0.32 versus $0.25; net income of $35.5 million versus $27.5 million
2024 revenue guidance raised to $640 million to $670 million from $620 million to $650 million
Cash and investments of $492.5 million at June 30, 2024, up from $451.0 million at March 31, 2024
At its May 17, 2024 annual meeting, Corcept's stockholders approved the 2024 Incentive Award Plan, which replaces the 2012 Plan. The filing also reports the election of nine directors, the ratification of Ernst & Young LLP as auditor for 2024, and an advisory approval of executive compensation. The new plan sets the share pool for equity awards going forward.
The 2024 Plan reserves 8,000,000 shares, plus 4,073,955 shares available under the 2012 Plan as of May 17, 2024, plus any shares from lapsed 2012 Plan awards.
Plan approval vote: 47,018,093 for, 18,698,799 against, 161,233 abstentions, with 22,496,239 broker non-votes.
All nine director nominees were elected to serve until the 2025 annual meeting.
Stockholders ratified Ernst & Young LLP for the fiscal year ending December 31, 2024, with 86,596,528 votes for and 1,707,066 against.
Corcept Therapeutics reported first quarter 2024 revenue of $146.8 million, up 39 percent from a year earlier, and net income of $27.8 million, compared with $15.9 million in the first quarter of 2023. The company raised its 2024 revenue guidance to $620 million to $650 million from $600 million to $630 million, which points to stronger expected sales for the year.
Q1 2024 revenue of $146.8 million vs. $105.7 million in Q1 2023; diluted EPS $0.25 vs. $0.14
2024 revenue guidance raised to $620 million to $650 million from $600 million to $630 million
Operating expenses rose to $117.3 million from $90.8 million, driven by clinical trial activity and commercial team expansion
Cash and investments were $451.0 million at March 31, 2024, up from $425.4 million at December 31, 2023
Corcept Therapeutics entered into a sublease on April 12, 2024 for about 50,632 rentable square feet at 101 Redwood Shores Parkway in Redwood City, California, with the sublessor Zuora, Inc. The lease runs from about July 1, 2024 through June 30, 2030, creating a new direct financial obligation. The filing discloses base rent averaging $1.4 million a year plus $240,000 a year for shared amenities, a modest commitment that the filing does not compare with Corcept's financial results.
Sublease dated April 12, 2024 with Zuora, Inc. for about 50,632 rentable square feet
Term expected to start on or around July 1, 2024 and end June 30, 2030
Base rent averages $1.4 million annually, plus $240,000 annually for shared amenities space
Full sublease to be filed with a Form 10-Q; Corcept intends to seek confidential treatment for some terms
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Corcept Therapeutics filing is on SEC EDGAR ↗. 8-K briefs of other companies →