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Sep 30, 2020
Corcept Therapeutics Q3 2020 Earnings Report
Reported a revenue increase and provided updates on clinical development programs.
Key Takeaways
Corcept Therapeutics reported a 6% increase in revenue compared to Q3 2019, with revenue reaching $86.3 million. The company's GAAP net income was $21.6 million, and non-GAAP net income was $30.0 million. They narrowed their 2020 revenue guidance to $355 - $365 million and announced a $200 million stock repurchase program.
Revenue increased by 6% to $86.3 million compared to the third quarter of 2019.
GAAP net income was $21.6 million, a decrease from $26.3 million in the same period last year.
Non-GAAP net income was $30.0 million, compared to $37.8 million in the third quarter of 2019.
Cash and investments increased to $444.2 million.
Forward Guidance
Corcept narrowed its 2020 revenue guidance range to $355 – 365 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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