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Document and Entity Information - USD ($)	12 Months Ended
Dec. 31, 2014	Mar. 02, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	CORT
Entity Registrant Name	CORCEPT THERAPEUTICS INC
Entity Central Index Key	0001088856
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 184,675,000
Entity Common Stock, Shares Outstanding		101,405,250

BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 24,248	$ 54,877
Trade receivables	3,334	1,428
Inventory	1,207	1,096
Prepaid expenses and other current assets	1,441	910
Total current assets	30,230	58,311
Strategic inventory	4,090	4,450
Property and equipment, net of accumulated depreciation	236	203
Other assets	74	113
Total assets	34,630	63,077
Current liabilities:
Accounts payable	1,886	2,381
Accrued clinical expenses	336	3,288
Other accrued liabilities	1,876	1,301
Long-term obligation-current portion	9,424	5,743
Deferred revenue	33	25
Total current liabilities	13,555	12,738
Long-term obligation, net of current portion	24,463	29,322
Commitments
Stockholders' equity:
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares outstanding at December 31, 2014 or 2013
Common stock, $0.001 par value, 280,000 shares authorized and 101,395 and 99,849 shares issued and outstanding at December 31, 2014 and 2013, respectively	101	100
Additional paid-in capital	320,511	313,534
Accumulated deficit	(324,000)	(292,617)
Total stockholders' equity	(3,388)	21,017
Total liabilities and stockholders' equity	$ 34,630	$ 63,077

STATEMENTS OF COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS [Abstract]
Product sales, net	$ 26,551	$ 10,357	$ 3,307
Operating expenses:
Cost of sales	882	143	91
Cost incurred under the agreement	18,372	20,470	14,074
Selling, general and administrative	34,916	31,240	25,414
Total operating expenses	54,170	51,853	39,579
Loss from operations	(27,619)	(41,496)	(36,272)
Interest and other expense	(3,764)	(4,515)	(1,776)
Net loss and comprehensive loss	$ (31,383)	$ (46,011)	$ (38,048)
Basic and diluted net loss per share	$ (0.31)	$ (0.46)	$ (0.41)
Shares used in computing basic and diluted net loss per share	100,978	99,819	93,015

STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member] Public Financing Transaction [Member]	Common Stock [Member] Private Equity Transaction [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Employees and Directors [Member]	Additional Paid-in Capital [Member] Non-employee [Member]	Additional Paid-in Capital [Member] Public Financing Transaction [Member]	Additional Paid-in Capital [Member] Private Equity Transaction [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Employees and Directors [Member]	Non-employee [Member]	Public Financing Transaction [Member]	Private Equity Transaction [Member]	Total
Beginning Balance (in shares) at Dec. 31, 2011			84,231
Beginning Balance at Dec. 31, 2011			$ 84					$ 243,281	$ (208,558)					$ 34,807
Issuance of stock (in shares)	11,000	4,202
Issuance of stock	$ 11	$ 4				$ 46,119	$ 12,815					$ 46,130	$ 12,819
Issuance of common stock upon exercise of warrants (in shares)			216
Issuance of common stock upon exercise of warrants								470						$ 470
Issuance of common stock upon exercise of options (in shares)			165											165
Issuance of common stock upon exercise of options			$ 1					288						$ 289
Stock-based compensation				$ 5,102	$ 208					$ 5,102	$ 208
Net loss and comprehensive loss									(38,048)					(38,048)
Ending Balance (in shares) at Dec. 31, 2012			99,814
Ending Balance at Dec. 31, 2012			$ 100					308,283	(246,606)					$ 61,777
Issuance of common stock upon exercise of options (in shares)			35											35
Issuance of common stock upon exercise of options								55						$ 55
Stock-based compensation				5,069	127					5,069	127
Net loss and comprehensive loss									(46,011)					(46,011)
Ending Balance (in shares) at Dec. 31, 2013			99,849
Ending Balance at Dec. 31, 2013			$ 100					313,534	(292,617)					$ 21,017
Issuance of common stock upon exercise of warrants (in shares)			165
Issuance of common stock upon exercise of options (in shares)			1,381											1,381
Issuance of common stock upon exercise of options			$ 1					1,776						$ 1,777
Stock-based compensation				$ 4,731	$ 470					$ 4,731	$ 470
Net loss and comprehensive loss									(31,383)					(31,383)
Ending Balance (in shares) at Dec. 31, 2014			101,395
Ending Balance at Dec. 31, 2014			$ 101					$ 320,511	$ (324,000)					$ (3,388)

STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities
Net loss	$ (31,383)	$ (46,011)	$ (38,048)
Adjustments to reconcile net loss to net cash used in operations:
Stock-based compensation	5,201	5,196	5,310
Accretion of interest expense	3,678	4,410	1,680
Amortization of debt financing costs	29	35	17
Depreciation and amortization of property and equipment	141	74	27
Changes in operating assets and liabilities:
Trade receivables	(1,906)	(871)	(557)
Inventory	249	(883)	(4,663)
Prepaid expenses and other current assets	(531)	(290)	(480)
Other assets	10	(4)	11
Accounts payable	(495)	(1,423)	193
Accrued clinical expenses	(2,952)	2,445	199
Other accrued liabilities	575	255	275
Deferred revenue	8	9	16
Net cash used in operating activities	(27,376)	(37,058)	(36,020)
Investing activities
Purchases of property and equipment	(174)	(127)	(151)
Cash used in investing activities	(174)	(127)	(151)
Financing activities
Proceeds from issuance of common stock and warrants, net of issuance costs			59,419
Proceeds from exercise of stock options, net of issuance costs	1,777	55	289
Proceeds from issuance of long-term obligation, net of cash paid for issuance costs			29,860
Payments related to long-term obligation	(4,856)	(1,025)
Net cash (used in) provided by financing activities	(3,079)	(970)	89,568
Net (decrease) increase in cash and cash equivalents	(30,629)	(38,155)	53,397
Cash and cash equivalents at beginning of period	54,877	93,032	39,635
Cash and cash equivalents at end of period	$ 24,248	$ 54,877	$ 93,032

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	1. Basis of Presentation and Summary of Significant Accounting Policies Description of Business Corcept Therapeutics Incorporated was incorporated in the state of Delaware in May 1998, and our facilities are located in Menlo Park, California. Corcept is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, oncologic and psychiatric disorders. Since our inception, we have been developing our lead product, Korlym®. Mifepristone, the active ingredient in Korlym, is a potent competitive antagonist of the glucocorticoid receptor (GR), which means that it competitively blocks the effects of cortisol throughout the body at one of its two receptors. In February 2012, the United States Food and Drug Administration (FDA) approved Korlym (mifepristone) 300 mg Tablets as a once-daily oral medication for treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery. We released Korlym for sale in the United States in April 2012. In December 2013, we initiated a study of mifepristone for the treatment of triple-negative breast cancer. In addition, we have discovered and patented three series of novel selective GR antagonists. Unless otherwise stated, all references in these financial statements to “we,” “us,” “our,” “Corcept,” the “Company,” “our company” and similar designations refer to Corcept Therapeutics Incorporated. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to use assumptions and make estimates to form judgments that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. We evaluate our estimates and assumptions on an ongoing basis, including those related to our reserves for chargebacks and rebates, patient assistance, potential product returns, excess/obsolete inventories, allowances for doubtful accounts, accruals of clinical and preclinical expenses, contingent liabilities, and the timing of payments with respect to our long-term financing agreement, which determine its effective interest rate. We base our estimates on relevant experience and on other specific assumptions that we believe are reasonable. We update our assumptions and estimates on a recurring basis as new information becomes available. Any changes in estimates are recorded in the period of the change. Cash and Cash Equivalents We invest our cash in bank deposits, money market accounts, corporate debt securities and obligations of the U.S. government and U.S. government sponsored entities. We consider all highly liquid investments purchased with maturities of three months or less from the date of purchase to be cash equivalents. Cash equivalents are carried at fair value, which approximates cost and, as of December 31, 2014 and 2013, all of our funds were invested in cash and cash equivalents that consist of a money market fund maintained at a major U.S. financial institution. Credit Risks and Concentrations We have a concentration of credit risk related to our cash and cash equivalents. We are exposed to credit risk in the event of default by the financial institution holding these funds or by the entity or entities that issued the securities held by the fund to the extent of the amount recorded on our balance sheet. We mitigate this risk by investing in a money market fund that invests primarily in short-term U.S. Treasury notes and bills. We have never experienced a loss or lack of access to cash and cash equivalents in our operating or investment accounts. Since the commercialization of Korlym in April 2012, we have been exposed to credit risk in regard to our trade receivables. From the launch of Korlym through June 30, 2013, 97% of our sales were to one specialty pharmacy customer, from whom we have fully collected all receivables. As discussed in Note 2, Significant Agreements – Commercial Agreements, in mid-2013 we transitioned all of our specialty pharmacy business to a new provider, Dohmen Life Science Services (Dohmen), formerly known as Centric Health Resources, Inc.. Among other services, Dohmen dispenses Korlym to patients for us, with title to the medicine passing from us to the patient upon the patient’s receipt of the drug. Accordingly, our receivables risk is spread among various third-party payors – pharmacy benefit managers, insurance companies, private charities, government programs – and individual patients. We extend credit to third-party payors based on their creditworthiness. We monitor our exposure and record an allowance against uncollectible trade receivables as necessary. To date, we have not incurred any credit losses. We have a concentration of risk in regard to the manufacture of our product. As of December 31, 2014, we had one tablet manufacturer for Korlym– AAI Pharma Services Corp. (AAI). In addition, we have a single-source manufacturer of mifepristone, the active pharmaceutical ingredient (API), in Korlym - Produits Chimiques Auxiliaires et de Synthèse SA (PCAS). If either of these companies is unable to manufacture API or Korlym tablets in the quantities and time frame required, we may not be able to manufacture our product in a timely manner. In order to mitigate these risks related to the manufacture of our product, we purchased and hold in inventory additional quantities of mifepristone API and Korlym tablets. Fair Value Measurements We categorize financial instruments in a fair value hierarchy that prioritizes the information used to develop assumptions for measuring fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 input), then to quoted prices in non-active markets or in active markets for similar assets or liabilities, inputs other than quoted prices that are observable for the asset or liability, and inputs that are not directly observable, but that are corroborated by observable market data for the asset or liability (Level 2 input), then the lowest priority to unobservable inputs, for example, our own data about the assumptions that market participants would use in pricing an asset or liability (Level 3 input). Fair value is a market-based measurement, not an entity-specific measurement, and a fair value measurement should therefore be based on the assumptions that market participants would use in pricing the asset or liability. No assets or liabilities in our financial statements are required to be reported at fair value other than our cash equivalents. Trade Receivables Trade receivables are recorded net of customer allowances for co-pay assistance, doubtful accounts and sales returns. See the discussion below under “Net Product Sales” regarding the methods for estimation of these allowances and sales returns. We determine our allowance for doubtful accounts based on existing contractual payment terms, actual payment patterns of our customers and individual customer circumstances. To date, we have determined that an allowance for uncollectible trade receivables is not required. Inventory We consider regulatory approval of product candidates to be uncertain, and product manufactured prior to regulatory approval may not be sold unless regulatory approval is obtained. We expense the manufacturing costs for product candidates incurred prior to regulatory approval as research and development expense as we incur them. When regulatory approval of a product is obtained, we begin capitalizing manufacturing costs related to the approved product into inventory, provided such product is produced by a facility the FDA has approved to manufacture the commercial product. We value our inventories at the lower of cost or net realizable value. We determine the cost of inventory using the specific identification method, which approximates a first-in, first-out basis. We analyze our inventory levels quarterly and write down inventory that has become obsolete or has a cost basis in excess of its expected net realizable value, as well as any inventory quantities in excess of expected requirements. Any expired inventory is disposed of and the related costs are recognized as cost of sales in the statement of comprehensive loss. Inventory amounts that are not expected to be consumed within twelve months following the balance sheet date are classified as strategic inventory, a noncurrent asset. Property and Equipment We state property and equipment at cost less accumulated depreciation. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets, ranging from three to five years. Long-term Obligation In August 2012, we entered into a Purchase and Sale Agreement (Financing Agreement) with Biopharma Secured Debt Fund II Sub, S.à r.l. (Biopharma), a private limited liability company organized under the laws of Luxembourg. Under the terms of the Financing Agreement, we received $30.0 million from Biopharma, which was recorded as a long-term obligation at issuance. We are obligated to make payments calculated as a percentage of (i) any licensing or other contingent payments arising from Korlym and any other products containing mifepristone or any of our proprietary selective GR antagonists (Covered Products) and (ii) net Covered Product revenues earned in the calendar quarter ended June 30, 2013 and thereafter (together, Korlym Receipts), until such time as we have paid Biopharma a total of $45.0 million. Interest expense related to the Financing Agreement is calculated based on the internal interest rate to Biopharma that would result from these assumed payment streams. The accounting for the Financing Agreement requires us to make certain estimates and assumptions, including the timing of royalty payments due to Biopharma, the expected rate of return to Biopharma, the split between current and long-term portions of the obligation and the accretion of related interest expense. Korlym has only been marketed since April 2012 and the magnitude and timing of Korlym revenue is difficult to predict. Therefore, these estimates and assumptions are subject to significant variability and are likely to change as we gain experience marketing Korlym, which will result in changes in our classification of the current and long-term portions of the amounts payable pursuant to the Financing Agreement, as well as the internal rate of return paid to Biopharma and the accretion of interest expense related to this obligation. The amount of our payment with respect to each quarter will be based on Korlym Receipts recorded in that quarter and may differ from our estimates. While changes in timing of Korlym revenue may affect the timing of recognition of interest expense and the split between the current and long-term portions of the obligation at any balance sheet date, the aggregate amount to be repaid to Biopharma is fixed at $45.0 million. The amount shown as the current portion of the obligation is an estimate of the total amount under the Financing Agreement that would be paid to Biopharma within 12 months following December 31, 2014. See Note 6, Long-Term Obligation, for additional information regarding this agreement. Net Product Sales Korlym is not available in retail pharmacies. From our initial launch in April 2012 through June 30, 2013, we sold Korlym primarily to a specialty pharmacy and a specialty distributor, which subsequently resold Korlym to patients and healthcare providers. As of July 1, 2013, we began using Dohmen as our specialty pharmacy. Dohmen operates on a consignment basis, without carrying any Korlym inventory. Accordingly, all of our sales through Dohmen are made directly to patients. We recognize product revenues from sales of Korlym upon delivery to patients as long as (i) there is persuasive evidence that an arrangement exists between ourselves and the customer, (ii) collectability is reasonably assured and (iii) the price is fixed or determinable. Prior authorization or confirmation of coverage level by the patient’s private insurance plan or government payor is a prerequisite to the shipment of product to a patient. In order to conclude that the price is fixed or determinable, we must be able to (i) calculate gross product revenues from the sales to our customers and (ii) reasonably estimate net product revenues. We make cash donations to a non-profit third party organization that provides patients who meet certain eligibility requirements with financial assistance for the treatment of Cushing's syndrome, which treatment may include Korlym. We do not include in net product revenues sales of Korlym tablets to uninsured patients funded through this source. We calculate gross product revenues based on the price that we charge our customers. We estimate our net product revenues by deducting from our gross product revenues (a) trade allowances, such as discounts for prompt payment, (b) estimated government rebates and chargebacks, (c) reserves for expected product returns and (d) estimated costs of our patient co-pay assistance program. We initially record estimates for these deductions at the time we recognize the gross revenue. We update our estimates on a recurring basis as new information becomes available. Trade Allowances: Through June 30, 2013, we offered our specialty pharmacy and specialty distributor customers a discount on Korlym sales for payment within 30 days and a small discount for providing data services. We expected these customers to earn these discounts and, accordingly, deducted them in full from gross product revenues and trade receivables at the time we recognized such revenues. Beginning in the third quarter of 2013, with the change in our sales model discussed above, we ceased incurring a prompt-payment discount on product sold through our specialty pharmacy and the cost of data services is now recorded as operating expense. Rebates and Chargebacks: We contract with Medicaid and other government programs so that Korlym will be eligible for purchase by, or qualify for partial or full reimbursement from, such government programs. We estimate the rebates and chargebacks that we are obligated to provide to government programs and deduct these estimated amounts from our gross product sales at the time the revenues are recognized. We base our estimates of these rebates and chargebacks upon (i) the discount amounts applicable to government-funded programs and (ii) the percentage of sales by our customers to patients who are covered by entities or programs that are eligible for such rebates and chargebacks. Allowances for Patient Co-pay Assistance Program: We provide financial assistance to eligible patients whose insurance policies require them to pay high deductibles and co-pays. We estimate the cost of assistance to be provided under this program by applying our actual experience regarding such assistance to our estimate of the percentage of our sales in the period that will be provided to patients covered by the program. Sales Returns: We estimate the amount of Korlym that we believe will be returned and deduct that estimated amount from gross revenue at the time we recognize such revenue. When estimating future returns, we analyze quantitative and qualitative information including, but not limited to, actual return rates, the amount of product in the distribution channel, the expected shelf life of such product, current and projected product demand, the introduction of competing products that may erode demand, and broad economic and industry-wide indicators. If we cannot reasonably estimate product returns with respect to a particular sale, we defer recognition of revenue from that sale until we can make a reasonable estimate. Because our sales through Dohmen, our specialty pharmacy, which represents the majority of our sales from July 1, 2015 forward, are made to individual patients who do not have the right to return the product, our exposure to product returns is limited to the specialty distributor channel and is not expected to be material. Cost of Sales Cost of sales includes the cost of product (the cost to manufacture Korlym, which includes material, third-party manufacturing costs and indirect personnel and other overhead costs) based on units for which revenue is recognized in the current period, as well as costs of stability testing, logistics and distribution of the product. We began capitalizing Korlym production costs and the cost to acquire mifepristone, the active ingredient (API) in Korlym, as inventory following approval by the FDA in February 2012. Prior to receiving FDA approval for Korlym, we expensed all such costs when incurred as research and development expense. A portion of the product manufactured and the API acquired prior to FDA approval was available for commercial use. As of December 31, 2014, the majority of this pre-approval material has been consumed and the cost of sales for 2015 and future years will include the full cost of the product. Research and Development Research and development expenses consist of costs incurred for research and development activities that we sponsor. These costs include direct expenses, such as the cost of clinical trials, pre-clinical studies, manufacturing development, preparations for submissions to the FDA and other regulatory bodies and efforts to prosecute and defend those submissions and the development of second-generation compounds, as well as research and development-related overhead expenses. We expense as incurred nonrefundable payments to third parties and our cost of acquiring technologies and materials used in research and development that have no alternative future use. We base our cost accruals for clinical trials, research and preclinical activities on estimates of work completed under service agreements, milestones achieved, patient enrollment and past experience with similar contracts. Our estimates of work completed and associated cost accruals include our assessments of information from third-party contract research organizations and the overall status of clinical trial and other development and administrative activities. Segment Reporting We determine our operating segments based on the way we organize our business to make operating decisions and assess performance. We have only one operating segment, which concerns the discovery, development and commercialization of pharmaceutical products. Stock-Based Compensation Stock-based compensation for employee and director options We account for stock-based compensation related to option grants to employees and directors under the fair value method, based on the value of the award at the grant date as determined using the Black-Scholes option valuation model. For service-based awards, we recognize expense over the requisite service period. For options with performance-based vesting criteria, we begin to recognize expense when we believe there is a high degree of probability (i.e., greater than 70%) of achieving the vesting criteria. Stock-based compensation expense related to non-employees We recognize the expense of options granted to non-employees based on the fair-value based measurement of the option grants at the time of vesting. For service-based awards, we recognize expense over the requisite service period. For options with performance-based vesting criteria, we recognize expense based on the minimum number of shares that will vest over time as the criteria are met based on the Black-Scholes valuation of the vested shares. See Note 8 for a detailed discussion of stock-based compensation expense. Income Taxes We determine deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities, measured using the enacted tax rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when it is more likely than not that the deferred tax asset will not be realized. No amounts have been recognized as interest or penalties on income tax related matters. The determination of an accounting policy as to the classification of such costs has been deferred until such time as any such costs are incurred. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying this new guidance to contracts within its scope, an entity will: (1) identify the contract(s) with a customer, (2) identify the performance obligation in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. Additionally, this new guidance will require significantly expanded revenue recognition disclosures. This guidance, which will become effective for us as of January 1, 2017, is to be applied retrospectively. Early application is not permitted. We are currently evaluating the new standard, but do not anticipate a material impact to our financial statements once implemented. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, which requires an entity to evaluate whether conditions or events, in the aggregate, raise substantial doubt about the entity's ability to continue as a going concern for one year from the date the financial statements are issued or are available to be issued. The guidance will become effective January 1, 2017. The adoption of ASU 2014-15 is not expected to have an impact on our financial statements.

Significant Agreements	12 Months Ended
Significant Agreements	Dec. 31, 2014
Significant Agreements [Abstract]
Significant Agreements	2. Significant Agreements Commercial Agreements In May 2013, we entered into a services agreement with Dohmen to provide exclusive specialty pharmacy and patient services programs for Korlym beginning July 1, 2013. Under the terms of this agreement, Dohmen acts as the exclusive specialty pharmacy distributor of Korlym in the United States, subject to certain exceptions. Among other services, Dohmen provides services related to pharmacy operations; patient intake, access and reimbursement; patient support; claims management and accounts receivable; and data and reporting. We provide Korlym to Dohmen, which it dispenses to patients. Dohmen does not take title to the product, which passes directly from us to the patient at the time the patient receives the medicine. The initial term of the agreement is a period of three years, with successive automatic renewal terms of three years unless either party gives at least 180 days’ prior notice of non-renewal. The agreement contains customary termination provisions, representations, warranties and covenants. Subject to certain limitations, we have agreed to indemnify Dohmen for certain third party claims related to the product, and we have each agreed to indemnify the other for certain breaches of representations, warranties, covenants and other specified matters. In May 2013, we gave notice to CuraScript, our previous specialty pharmacy provider, of our intent to terminate our agreement with them effective July 20, 2013. In June 2013, we recorded a return reserve estimate of $300,000 for inventory that CuraScript had purchased from us but had the right to return as a result of this termination. This amount, which was reflected as an adjustment to net revenue in our Statement of Comprehensive Loss for the year ended December 31, 2013, was settled and paid to CuraScript during 2014. Our exposure to product returns is now limited to the specialty distributor channel and is not expected to be material. Manufacturing Agreements Related to Korlym Active Pharmaceutical Ingredient In March 2014, we entered into a new long-term manufacturing and supply agreement with PCAS for the manufacture of mifepristone, the active pharmaceutical agreement in Korlym. We have agreed to purchase a minimum percentage of our mifepristone requirements from PCAS; the amount of the commitment will depend on our future needs. The initial term of the agreement is five years, with an automatic extension of one year unless either party gives 12 months’ prior written notice that it does not want an extension. We have the right to terminate the agreement if PCAS is unable to manufacture the product for a consecutive nine-month period. Tablet Manufacture In April 2014, we entered into a new manufacturing agreement with AAI Pharma for the manufacture and package Korlym tablets. The initial term of this agreement is a period of three years, with consecutive automatic extensions of two years unless either party gives written notice - in the case of AAI Pharma, 18 months prior to the end of the applicable term, and in our case 12 months prior to the end of the applicable term - that it does not want such an extension. We have the right to terminate the agreement if AAI Pharma is unable to manufacture the product for a consecutive four-month period or if the product is withdrawn from the market. There are no minimum purchase obligations under this agreement. See the discussion above in Note 1, Basis of Presentation and Summary of Significant Accounting Policies - Credit Risks and Concentrations, for a further discussion of the business risks and mitigation measures taken in regard to tablet manufacture. Research and Development Agreements In 1998, we entered into an agreement with The Board of Trustees of Leland Stanford Junior University (Stanford) in which Stanford granted us an exclusive option to acquire an exclusive license for inventions and patents related to “Mifepristone for Psychotic Major Depression” and “Mifepristone and Alzheimer’s Disease” owned by Stanford. (“Psychotic major depression” is referred to in this document as “psychotic depression.”) In 1999, we exercised our option to acquire an exclusive license to patents covering the use of glucocorticoid receptor antagonists for the treatment of psychotic depression, early dementia, and cocaine-induced psychosis, as specified in the license agreement. This license agreement expires upon the expiration of the related patents or upon notification by us to Stanford. In exchange for the license, we paid Stanford an initial non-refundable fee, immediately issued 30,000 shares of our common stock to Stanford and are obligated to pay Stanford $50,000 per year as a nonrefundable royalty payment. In addition, we are obligated to pay additional milestone payments in the future, which are not material and which are creditable against future royalties and will pay a royalty based on net revenue generated by any product arising from the patent until its expiration. In 2003, we entered into a contract research agreement with Argenta Discovery Limited (Argenta) in which Argenta agreed to conduct research toward identifying a novel small molecule glucocorticoid receptor antagonist for the treatment of psychotic depression, Alzheimer’s disease, and other metabolic and psychiatric disorders. We continued our relationship with Argenta through the end of 2011, requesting them to conduct research projects on a regular basis. Under the agreements with Argenta, we may be obligated to make milestone payments upon the occurrence of certain events, the amounts of which are not material. These obligations remain in force after the conclusion of work under the agreement. In January 2012, we entered into a Master Services Agreement with Sygnature Discovery Limited, a contract research company located in the United Kingdom, which does not obligate us to any milestone payments. Through 2014, we entered into agreements for services in connection with our ongoing Phase 3 trial of psychotic depression with ICON Clinical Research, L.P. (ICON) and MedAvante, Inc. (MedAvante) to manage the trial and conduct patient screening and evaluation services, which have been amended from time to time. This clinical trial was terminated during 2014 and all amounts due under this agreement have been paid or accrued as of December 31, 2014. In November 2013, we licensed from the University of Chicago exclusive rights to the University’s U.S. Patent No. 8,710,035 “Methods and Compositions Related to Glucocorticoid Receptor Antagonists and Breast Cancer”. In exchange for the license, we paid an initial non-refundable fee to the University of Chicago and are committed to additional annual and milestone payments in the future, which are not material and which are creditable against future royalties and will pay a royalty based on net revenue generated by any product arising from the patent until its expiration. In December 2013, we entered into an agreement with Chiltern to assist in the management and conduct of a clinical trial evaluating mifepristone for treatment of triple-negative breast cancer. The total commitment under this agreement is $2.9 million, but the actual amount to be paid is dependent on actual services provided under this agreement. Approximately $1.0 million of the costs under this agreement were incurred through December 31, 2014, with the remainder to be incurred over the course of the trial. In March 2014, we entered into an agreement with Quotient Clinical Limited, a clinical research organization, to assist in the management and conduct of our Phase 1 study of CORT125134, one of our new compounds. The total commitment under the agreement is approximately $2.6 million, which is expected to be expended over approximately a 1-year period. Approximately $1.5 million of the costs under this agreement were incurred through December 31, 2014, with the remainder to be incurred over the course of the trial.

Composition of Certain Balance Sheet Items

12 Months Ended

Dec. 31, 2014

Composition of Certain Balance Sheet Items [Abstract]

Composition of Certain Balance Sheet Items

4. Composition of Certain Balance Sheet Items

Inventory

The composition of inventory was as follows:



	December 31,		December 31,
	2014		2013
	(in thousands)
Raw materials	$	3,595	$	4,318
Work in progress		15		2
Finished goods		1,687		1,226
Total inventory		5,297		5,546
Less strategic inventory classified as non-current		(4,090)		(4,450)
Total inventory classified as current	$	1,207	$	1,096

The majority of the finished goods inventory as of December 31, 2014 and 2013 includes all costs of manufacture and packaging with the exception of the cost of raw materials that were expensed prior to FDA approval.

In order to be prepared for potential demand for Korlym and because we have single-source manufacturers of both the API for Korlym and Korlym tablets, we have invested in inventory of both of these materials. Inventory amounts that are not expected to be consumed within twelve months following the balance sheet date are referred to as “Strategic Inventory” and classified as a noncurrent asset.

Property and Equipment

Property and equipment consisted of the following:



	December 31,
	2014		2013
	(in thousands)
Furniture and equipment	$	253	$	183
Vehicles		65		38
Software		193		116
Leasehold improvements		14		14
		525		351
Less: accumulated depreciation		(289)		(148)
	$	236	$	203

Other Accrued Liabilities

Other accrued liabilities consisted of the following:



	December 31,
	2014		2013
	(in thousands)
Accrued compensation	$	564	$	466
Professional fees		330		369
Commercialization costs		556		288
Government rebates		275		40
Legal fees		120		110
Other		31		28
	$	1,876	$	1,301

Long-Term Obligation

12 Months Ended

Dec. 31, 2014

Long-Term Obligation [Abstract]

Long-Term Obligation

5. Long-Term Obligation

As discussed in Note 1, Basis of Presentation and Summary of Significant Accounting Policies - Long-term Obligation, under the Financing Agreement with Biopharma, we are obligated to make payments, calculated as a percentage of our net sales of Korlym, any future mifepristone-based products, our selective GR antagonists (together referred to as Covered Products) and any upfront, milestone or other contingent payments with respect to Covered Products. Biopharma’s right to receive payments will expire once it has received cumulative payments of $45.0 million. We have made aggregate payments to Biopharma in the amount of $5.9 million through December 31, 2014, with an additional payment in the amount of $1.9 million made in February 2015.

Under the terms of the Financing Agreement, our payments are variable, with no fixed minimums. If there are no net sales, upfront, milestone or other contingent payments in a period with respect to Covered Products, then no payment will be due for that period.

We are obligated to make future payments as follows:

20 percent of our net product sales of Covered Products, subject to quarterly payment caps of $3.75 million during 2015. There is no quarterly cap on payments with respect to net product sales in 2016 and later.

20 percent of payments received for upfront, milestone or other contingent fees under co-promotion and out-license agreements for Covered Products (without application of quarterly caps).

The percentage used to calculate our payments to Biopharma would increase to 50 percent and any applicable payment caps would lapse if we (i) fail to provide Biopharma with certain information regarding our promotion and sales of Covered Products, (ii) do not devote a commercially reasonable amount of resources to the promotion and marketing of the Covered Products or (iii) violate the indebtedness covenant by incurring indebtedness greater than the sum of earnings before interest, taxes, depreciation and amortization, including such items as non-cash stock-based compensation, for the four calendar quarters preceding such incurrence and, in each case, fail to cure within the applicable cure period.

Upon the occurrence of a Corcept change of control transaction or the licensing of Korlym to a third-party for promotion and sale in the United States, the entire $45.0 million, less any amounts already paid by us, would become due.

To secure our obligations in connection with this Financing Agreement, we granted Biopharma a security interest in our rights in patents, trademarks, trade names, domain names, copyrights, know-how and regulatory approvals related to the Covered Products, all books and records relating to the foregoing and all proceeds of the foregoing (together, the Collateral). If we (i) fail to deliver a royalty payment when due and do not remedy that failure within 30 days, (ii) fail to maintain a first-priority perfected security interest in the Collateral in the United States and do not remedy that failure within five business days of receiving notice of such failure or (iii) become subject to an event of bankruptcy, then Biopharma may attempt to recover up to $45.0 million (after deducting any payments we have already made). In addition, pursuant to this agreement, we are not allowed to pay a dividend or other cash distribution, unless we will have cash and cash equivalents in excess of $50.0 million after such payment.

The cash payment of $30.0 million received from Biopharma was recorded as a long-term obligation at issuance in August 2012. As discussed in Note 1, Basis of Presentation and Summary of Significant Accounting Policies, Long-term Obligation, we make estimates of the timing of payments during the term of this agreement for purposes of calculating the expected rate of return to Biopharma, the accretion of related interest expense and the current portion of our obligation. Interest expense of $3.7 million and $4.4 million for the years ended December 31, 2014 and 2013, respectively, and total accreted interest of $9.8 million for the period from August 16, 2012, the date of funding of the Financing Agreement, through December 31, 2014, was calculated based on the internal interest rate to Biopharma that would result from these assumed payment streams. The timing of payment amounts will be based on actual Korlym Receipts recorded in the financial statements over the term of this agreement and may differ from these estimates. While changes in the timing of Korlym revenue may affect the timing of recognition of interest expense and the split between the current and long-term portions of the obligation at any balance sheet date, the aggregate amount to be repaid to Biopharma is fixed at $45.0 million.

The carrying value of the long-term obligation was $33.9 million and $35.1 million as of December 31, 2014 and December 31, 2013, respectively. The long-term obligation, including accreted interest, is presented on the balance sheet in two components; the Long-term obligation - current portion, which equates to the estimated amount due under the agreement to be paid within twelve months following the balance sheet date, and the remaining amount, which is included in Long-term obligation, net of current portion.

The following table provides a summary of the payment obligations under the Financing Agreement as of December 31, 2014 and 2013, utilizing the payment assumptions discussed above.



	December 31,		December 31,
	2014		2013
	(in thousands)
Total repayment obligation	$	45,000	$	45,000
Less interest to be accreted in future periods		(5,232)		(8,910)
Less payments made		(5,881)		(1,025)
Less current portion		(9,424)		(5,743)
Long-term obligation, net of current portion	$	24,463	$	29,322

The estimated fair value of the long-term obligation, as measured using Level 3 inputs, approximates the carrying amounts as presented on the balance sheet as of December 31, 2014 and 2013. The estimated fair value was calculated using the income method of valuation. The key assumptions required for the calculation were an estimate of the amount and timing of future product revenues and an estimated cost of capital. Management’s estimate of the future product revenues is subject to significant uncertainty due to the fact that Korlym has been available for less than three years and there is an extended time period associated with the Financing Agreement.

We capitalized $140,000 of issuance costs related to the Financing Agreement, which are being amortized over the estimated term of the obligation, based on the assumptions discussed above. At December 31, 2014, the unamortized issuance costs were $58,000, and are included in other assets on our balance sheet.

Preferred Stock and Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Preferred Stock and Stockholders' Equity [Abstract]

Preferred Stock and Stockholders' Equity

8. Preferred Stock and Stockholders’ Equity

Preferred Stock

The board of directors is authorized, subject to any limitations prescribed by law, without stockholder approval, to issue up to an aggregate of 10,000,000 shares of preferred stock at $0.001 par value in one or more series and to fix the rights, preferences, privileges and restrictions granted to or imposed upon the preferred stock, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences. The rights of the holders of common stock will be subject to the rights of holders of any preferred stock that may be issued in the future.

As of December 31, 2014 and 2013, we had no outstanding shares of preferred stock.

Common Stock

Significant stock transactions

There were no transactions relating to the sale and issuance of common stock or the exercise and issuance of warrants during the two years ended December 31, 2014 and 2013, other than the exercise of a warrant in May 2014 that had been issued in a private placement in March 2008 (the March 2008 Financing). This warrant was exercised on a cashless net-exercise basis, wherein the investor surrendered a warrant for 529,567 shares in exchange for the issuance of 164,666 shares of common stock. The following paragraphs describe significant transactions relating to the sale and issuance of common stock and the exercise and issuance of warrants during the year ended December 31, 2012. Information regarding the issuance of common stock upon the exercise of stock options is discussed below under the caption, Stock Option Plans.

Transactions during 2012

On March 29, 2012, we issued 4.2 million shares of our common stock upon the exercise of warrants that we had issued in a private placement transaction in April 2010 at an exercise price of $2.96 per share and sold new warrants to the same investors to purchase 4.2 million shares of common stock at an exercise price of $4.05 per share. The new warrants are exercisable through March 29, 2015. We generated net proceeds in these transactions of $12.8 million, after the deduction of issuance costs. Venture capital funds, trusts and other entities affiliated with members of our Board of Directors purchased 40 percent of the securities sold in this transaction, with the remainder being purchased by other qualified investors.

On July 6, 2012, we sold 11.0 million shares of our common stock in an underwritten public offering at a price to the public of $4.49 per share, generating net proceeds of $46.1 million after deducting expenses of the offering.

During the year ended December 31, 2012, investors exercised additional warrants for the purchase of our common stock with exercise prices ranging from $1.66 to $2.96 per share. As a result, we issued an aggregate of 216,000 shares of common stock and generated aggregate proceeds of $470,000.

Registration Rights related to March 2008 Financing

In March 2008, we sold 8.9 million shares of our common stock and warrants to purchase 4.5 million shares of our common stock in the March 2008 Financing. The registration rights agreement covering securities issued in the March 2008 Financing provides that if we do not fulfill certain of our obligations under the registration rights agreement, we will be required to pay liquidated damages to the holders of the shares and warrants. We filed the registration statement covering the resale of the shares sold and shares underlying the warrants sold in this transaction with the Securities and Exchange Commission (SEC) on April 11, 2008, and it was declared effective by the SEC on November 10, 2008. During 2008, we recorded $1.3 million in liquidated damages to other non-operating expense because of the delay in the effectiveness of the registration statement, which represented 5% of the purchase price. No separate contingent obligation has been recorded since that time as no additional liquidated damages have become probable of payment.

No dividends have been declared or paid by us.

Shares of common stock reserved for future issuance as of December 31, 2014 are as follows:



Common stock:	(in thousands)
Exercise of outstanding options	14,704
Exercise of warrants	8,044
Shares available for grant under stock option plans	7,546
	30,294

On February 18, 2015, our Board of Directors authorized an increase of 4.1 million shares in the number of shares available under the 2012 Incentive Award Plan (the 2012 Plan), which was equivalent to 4% of the shares of our common stock outstanding as of December 31, 2014, pursuant to the terms of the 2012 Plan.

Stock Option Plans

We have three stock option plans – the 2000 Stock Option Plan (the 2000 Plan), the 2004 Equity Incentive Plan (the 2004 Plan) and the 2012 Plan. As of December 31, 2014, all option grants under the 2000 Plan were fully vested and have either been exercised or expired at the end of their contractual life.

In 2004, our board of directors and stockholders approved the 2004 Plan, which became effective upon the completion of our Initial Public Offering (IPO), after which time, no additional options have been or will be issued under the 2000 Plan. Under the 2004 Plan, options, stock purchase and stock appreciation rights and restricted stock awards can be issued to our employees, officers, directors and consultants. The 2004 Plan provided that the exercise price for incentive stock options will be no less than 100% of the fair value of the Company’s common stock, as of the date of grant. Options granted under the 2004 Plan vest over periods ranging from one to five years. The vesting period of the options is generally equivalent to the requisite service period.

In 2012, our board of directors and stockholders approved the 2012 Plan. As of the effective date of the 2012 Plan, 5.3 million shares that remained available for issuance of new grants under the 2004 Plan were transferred to the 2012 Plan. After that date, no additional options were or will be issued under the 2004 Plan. Vested options under the 2000 Plan and the 2004 Plan that are not exercised within the remaining contractual life and any options under the 2004 Plan that do not vest because of terminations after the effective date of the 2012 Plan will be added to the pool of shares available for future grants under the 2012 Plan.

Under the 2012 Plan, we can issue options, stock purchase and stock appreciation rights and restricted stock awards to our employees, officers, directors and consultants. The 2012 Plan provides that the exercise price for incentive stock options will be no less than 100 percent of the fair value of our common stock, as of the date of grant. Options granted under the 2012 Plan are expected to vest over periods ranging from one to four years. We expect the vesting period of the options that we grant under the 2012 Plan to be generally equivalent to the requisite service period.

Upon exercise of options, new shares are issued.

On February 6, 2014, our board of directors authorized an increase of 4.0 million shares in the number of shares available under the 2012 Plan, which was equivalent to 4% of the shares of our common stock outstanding as of December 31, 2013, pursuant to the terms of the 2012 Plan. As of December 31, 2014, 7.5 million shares remained available for future grants under the 2012 Plan. See the discussion above under Common Stock regarding an additional increase to the shares available for grant under the 2012 Plan that was authorized by the Board of Directors in February 2015.

Option activity during 2012, 2013 and 2014

The following table summarizes all stock plan activity:



		Outstanding Options
	Shares Available For Future Grant	Options Shares Subject to Options Outstanding		Weighted- Average Exercise Price	Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(in thousands)	(in thousands)			(in years)		(in thousands)
Balance at December 31, 2011	2,251	10,308	$	2.86
Increase in shares authorized for grant	3,369	—		—
Shares granted	(1,695)	1,695	$	3.26
Shares exercised	—	(165)	$	1.91
Shares expired under 2000 Plan	11	(93)	$	7.00
Shares cancelled and forfeited under 2004 and 2012 Plans	119	(119)	$	3.26
Balance at December 31, 2012	4,055	11,626	$	2.90
Increase in shares authorized for grant	3,992	—		—
Shares granted	(3,565)	3,565	$	1.98
Shares exercised	—	(35)	$	1.58
Shares cancelled and forfeited	444	(444)	$	4.58
Balance at December 31, 2013	4,926	14,712	$	2.63
Increase in shares authorized for grant	3,993	—		—
Shares granted	(2,140)	2,140	$	2.62
Shares exercised	—	(1,381)	$	1.34
Shares cancelled and forfeited	767	(767)	$	5.03
Balance at December 31, 2014	7,546	14,704	$	2.62	6.22	$	10,424

Options exercisable at December 31, 2014		10,489	$	2.67	5.29	$	7,866

Options fully vested and expected to vest at December 31, 2014		14,704	$	2.62	6.22	$	10,424

The total intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $3.0 million, $55,000 and $303,000, respectively, based on the difference between the closing price of our common stock on the date of exercise of the options and the exercise price.

The total grant date fair value of options to employees and directors that vested during the years ended December 31, 2014, 2013 and 2012 was $4.6 million, $5.0 million and $5.0 million, respectively.

The following is a summary of options outstanding and options exercisable at December 31, 2014.



					Options Outstanding							Options Exercisable
Exercise Prices Of Options					Number of Shares	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price			Aggregate Intrinsic Value		Number of Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value
					(in thousands)	(in years)				(in thousands)		(in thousands)			(in thousands)
$	0.96	-	$	2.00	4,885	5.0		$	1.49	$	7,355	3,907	$	1.42	$	6,156
$	2.01	-	$	3.00	4,779	7.4		$	2.36		3,069	2,678	$	2.36		1,710
$	3.01	-	$	4.50	4,844	6.5		$	3.92		—	3,709	$	4.08		—
$	4.51	-	$	5.70	196	0.5		$	5.02		—	195	$	5.02		—
					14,704	6.2		$	2.62	$	10,424	10,489	$	2.67	$	7,866

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that option holders would have received had all option holders exercised their options on December 31, 2014. The aggregate intrinsic value is the difference between our closing stock price on December 31, 2014 and the exercise price, multiplied by the number of in-the-money options.

Stock-Based Compensation related to Employee and Director Options

Assumptions used in determining fair value-based measurements for options to employees and directors

The following table summarizes the weighted-average assumptions and resultant fair value-based measurements for options granted to employees and directors.



	Year Ended December 31,
	2014		2013		2012
Weighted-average assumptions for stock options granted:
Risk-free interest rate	1.80%		1.76%		1.06%
Expected term	6	years	8.3	years	6.7	years
Expected volatility of stock price	79.0%		83.9%		86.6%
Dividend rate	0%		0%		0%
Weighted average grant date fair value-based measurement	$	1.77	$	1.54	$	2.41

The expected term of options reflected in the table above has been based on a formula that considers the expected service period and expected post-vesting termination behavior differentiated by whether the grantee is an employee, an officer or a director.

The expected volatility of our stock used in determining the fair value-based measurement of option grants to employees, officers and directors is based on a weighted-average combination of the volatility of our own stock price and that of a group of peer companies for those grants with expected terms longer than the period of time that we have been a public company. For stock options granted to employees with expected terms of less than the period of time that we have been a public company, the volatility is based on historical data of the price for our common stock for periods of time equivalent to the expected term of these grants.

We apply a forfeiture rate of zero in our stock option expense calculations as we have a limited employee base and have experienced minimal turnover. When an employee terminates, we will record a change in accounting estimate that represents the difference between the expense recorded in the financial statements and the expense that would have been recorded based upon the rights to options that vested during the individual’s service as an employee.

Summary of compensation expense related to options to employees and directors

We recognized compensation expense of $4.7 million, $5.1 million and $5.1 million, related to options to employees and directors during the years ended December 31, 2014, 2013, and 2012, respectively. The data for the year ended December 31, 2012 include $1.3 million of expense related to performance-based option awards to officers that vested upon the FDA approval of Korlym in February 2012, which is classified as selling, general and administrative expense.

As of December 31, 2014, we had $7.1 million of unrecognized compensation expense for employee and director options outstanding as of that date, which had a remaining weighted-average vesting period of 2.5 years.

Stock Options to Non-Employees

We expense stock-based compensation related to service-based option grants to non-employees on a straight line basis over the vesting period of the options, which approximates the period over which the related services are rendered, based on the fair value-based measurement of the options using the Black-Scholes option pricing model. The assumptions used in these calculations are similar to those used for the determination of fair value-based measurement for options granted to employees and directors, with the exception that, for non-employee options, the remaining contractual term is utilized as the expected term of the option and the fair value-based measurement related to unvested non-employee options is re-measured quarterly, based on the then current stock price as reflected on the NASDAQ Capital Market. For options with performance-based vesting criteria, we recognize expense based on the minimum number of shares that will vest over time as the criteria are met based on the Black-Scholes valuation of the vested shares.

We recorded charges to expense for non-employee stock options of $470,000, $127,000 and $208,000 for the years ended December 31, 2014, 2013 and 2012, respectively.

As of December 31, 2014, there are three awards outstanding to non-employees with an aggregate total of 149,000 shares unvested as of that date.

Summary of Stock-based Compensation Expense

The following table presents a summary of non-cash stock-based compensation by financial statement classification.



	Year ended December 31,
	2014		2013		2012
	(in thousands)
Research and development expense	$	723	$	618	$	546
Selling, general and administrative expense		4,478		4,578		4,764
Total	$	5,201	$	5,196	$	5,310

Warrants

Outstanding warrants at December 31, 2014 were as follows:



	Number of	Exercise		Expiration
	Shares	Price		Date
	(in thousands)
March 2008 Financing	3,842	$	2.77	3/24/2015
March 2012 Warrant Exchange	4,202	$	4.05	3/29/2015
Total warrants outstanding	8,044

All of our warrants may be exercised for cash at any time up to the expiration dates noted in the table above. In these instances, the number of shares issued will be equal to the number of warrant shares shown on each respective warrant.

The warrants issued under the March 2008 Financing may be exercised pursuant to a cashless net-exercise, whereby the exercise cost is satisfied through a reduction in the number of shares to be issued. In a net-exercise, the number of shares to be issued would be based on the differential between the market value of our common stock at the time of the exercise and the exercise price of the shares underlying the original warrant. The warrants issued under the March 2012 Warrant Exchange do not contain a net-exercise provision.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
-Section 04
-Article 3

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Income Taxes

10. Income Taxes

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets are as follows:



	December 31,
	2014		2013
Deferred tax assets:	(in thousands)
Federal and state net operating losses	$	65,012	$	55,955
Capitalized research and patent costs		25,567		23,395
Research credits		22,789		21,252
Biopharma Financing Agreement		13,296		13,021
Stock-based compensation costs		6,410		5,398
Other		2,995		1,148
Total deferred tax assets		136,069		120,169
Valuation allowance		(136,069)		(120,169)
Net deferred tax assets	$	—	$	—

Realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. Accordingly, the net deferred tax assets have been fully offset by a valuation allowance. The valuation allowance increased by $15.9 million, $15.9 million and $14.0 million, respectively, for the years ended December 31, 2014, 2013 and 2012, respectively.

At December 31, 2014, we had net operating loss carryforwards available to offset any future taxable income that we may generate for federal income tax purposes of $167.8 million, which expire in the years 2019 through 2034; California net operating loss carryforwards of $131.0 million, which expire in the years 2015 through 2034 and net operating losses carryforwards from other states of $18.8 million, which expire in the years 2024 through 2034. Our federal and state net operating loss carryforwards as of December 31, 2014 include amounts resulting from exercises and sales of stock option awards to employees and non-employees. When we realize the tax benefit associated with these stock option exercises as a reduction to taxable income in our returns, we will account for the tax benefit as a credit to stockholders’ equity rather than as a reduction of our income tax provision in our financial statements. Based upon our stock option exercise history, we believe such amounts are not a material component of our total net operating loss carryforwards as of December 31, 2014.

We also had federal and California research tax credits of $21.0 million and $2.6 million, respectively. The federal research credits will expire in the years 2019 through 2033 and the California research credits have no expiration date. Our deferred tax assets have been offset by a full valuation allowance as the realization of such assets is uncertain.

Utilization of our net operating losses and tax credit carryforwards may be subject to substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. Such limitations could result in the expiration of the net operating losses and tax credit carryforwards before utilization.

All tax years from inception remain open to examination by the Internal Revenue Service, the California Franchise Tax Board and other state taxing authorities until such time as the net operating losses and research credits are either fully utilized or expire.

The following table presents a reconciliation from the statutory federal income tax rate to the effective rate.



	Year ended December 31,
	2014		2013		2012
	(in thousands)
U.S. federal taxes (benefit) at statutory rate	$	(10,670)	$	(15,644)	$	(12,936)
Unutilized net operating loss		11,002		16,181		13,853
Unutilized research credits		(1,308)		(1,515)		(2,190)
Non-deductible offset of Orphan Drug Credit		249		383		827
Non-deductible stock based compensation		673		567		404
Other		54		28		42
Total	$	—	$	—	$	—

Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

Quarterly Financial Data [Abstract]

Quarterly Financial Data

12. Quarterly Financial Data (Unaudited)

The following table is in thousands, except per share amounts:



Quarter Ended	March 31		June 30		September 30		December 31
2014

Product sales, net	$	4,405	$	5,851	$	7,282	$	9,013
Gross profit on product sales		4,231		5,636		7,047		8,755
Net loss		(13,930)		(7,552)		(6,006)		(3,895)
Basic and diluted net loss per share		(0.14)		(0.07)		(0.06)		(0.04)

2013

Product sales, net	$	1,717	$	1,891	$	2,634	$	4,115
Gross profit on product sales		1,697		1,868		2,594		4,055
Net loss		(12,084)		(11,897)		(10,906)		(11,124)
Basic and diluted net loss per share		(0.12)		(0.12)		(0.11)		(0.11)

Basis of Presentation and Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2014
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
Description of Business	Description of Business Corcept Therapeutics Incorporated was incorporated in the state of Delaware in May 1998, and our facilities are located in Menlo Park, California. Corcept is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, oncologic and psychiatric disorders. Since our inception, we have been developing our lead product, Korlym®. Mifepristone, the active ingredient in Korlym, is a potent competitive antagonist of the glucocorticoid receptor (GR), which means that it competitively blocks the effects of cortisol throughout the body at one of its two receptors. In February 2012, the United States Food and Drug Administration (FDA) approved Korlym (mifepristone) 300 mg Tablets as a once-daily oral medication for treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery. We released Korlym for sale in the United States in April 2012. In December 2013, we initiated a study of mifepristone for the treatment of triple-negative breast cancer. In addition, we have discovered and patented three series of novel selective GR antagonists. Unless otherwise stated, all references in these financial statements to “we,” “us,” “our,” “Corcept,” the “Company,” “our company” and similar designations refer to Corcept Therapeutics Incorporated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to use assumptions and make estimates to form judgments that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. We evaluate our estimates and assumptions on an ongoing basis, including those related to our reserves for chargebacks and rebates, patient assistance, potential product returns, excess/obsolete inventories, allowances for doubtful accounts, accruals of clinical and preclinical expenses, contingent liabilities, and the timing of payments with respect to our long-term financing agreement, which determine its effective interest rate. We base our estimates on relevant experience and on other specific assumptions that we believe are reasonable. We update our assumptions and estimates on a recurring basis as new information becomes available. Any changes in estimates are recorded in the period of the change.
Cash and Cash Equivalents	Cash and Cash Equivalents We invest our cash in bank deposits, money market accounts, corporate debt securities and obligations of the U.S. government and U.S. government sponsored entities. We consider all highly liquid investments purchased with maturities of three months or less from the date of purchase to be cash equivalents. Cash equivalents are carried at fair value, which approximates cost and, as of December 31, 2014 and 2013, all of our funds were invested in cash and cash equivalents that consist of a money market fund maintained at a major U.S. financial institution.
Credit Risks and Concentrations	Credit Risks and Concentrations We have a concentration of credit risk related to our cash and cash equivalents. We are exposed to credit risk in the event of default by the financial institution holding these funds or by the entity or entities that issued the securities held by the fund to the extent of the amount recorded on our balance sheet. We mitigate this risk by investing in a money market fund that invests primarily in short-term U.S. Treasury notes and bills. We have never experienced a loss or lack of access to cash and cash equivalents in our operating or investment accounts. Since the commercialization of Korlym in April 2012, we have been exposed to credit risk in regard to our trade receivables. From the launch of Korlym through June 30, 2013, 97% of our sales were to one specialty pharmacy customer, from whom we have fully collected all receivables. As discussed in Note 2, Significant Agreements – Commercial Agreements, in mid-2013 we transitioned all of our specialty pharmacy business to a new provider, Dohmen Life Science Services (Dohmen), formerly known as Centric Health Resources, Inc.. Among other services, Dohmen dispenses Korlym to patients for us, with title to the medicine passing from us to the patient upon the patient’s receipt of the drug. Accordingly, our receivables risk is spread among various third-party payors – pharmacy benefit managers, insurance companies, private charities, government programs – and individual patients. We extend credit to third-party payors based on their creditworthiness. We monitor our exposure and record an allowance against uncollectible trade receivables as necessary. To date, we have not incurred any credit losses. We have a concentration of risk in regard to the manufacture of our product. As of December 31, 2014, we had one tablet manufacturer for Korlym– AAI Pharma Services Corp. (AAI). In addition, we have a single-source manufacturer of mifepristone, the active pharmaceutical ingredient (API), in Korlym - Produits Chimiques Auxiliaires et de Synthèse SA (PCAS). If either of these companies is unable to manufacture API or Korlym tablets in the quantities and time frame required, we may not be able to manufacture our product in a timely manner. In order to mitigate these risks related to the manufacture of our product, we purchased and hold in inventory additional quantities of mifepristone API and Korlym tablets.
Fair Value Measurements	Fair Value Measurements We categorize financial instruments in a fair value hierarchy that prioritizes the information used to develop assumptions for measuring fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 input), then to quoted prices in non-active markets or in active markets for similar assets or liabilities, inputs other than quoted prices that are observable for the asset or liability, and inputs that are not directly observable, but that are corroborated by observable market data for the asset or liability (Level 2 input), then the lowest priority to unobservable inputs, for example, our own data about the assumptions that market participants would use in pricing an asset or liability (Level 3 input). Fair value is a market-based measurement, not an entity-specific measurement, and a fair value measurement should therefore be based on the assumptions that market participants would use in pricing the asset or liability. No assets or liabilities in our financial statements are required to be reported at fair value other than our cash equivalents.
Trade Receivables	Trade Receivables Trade receivables are recorded net of customer allowances for co-pay assistance, doubtful accounts and sales returns. See the discussion below under “Net Product Sales” regarding the methods for estimation of these allowances and sales returns. We determine our allowance for doubtful accounts based on existing contractual payment terms, actual payment patterns of our customers and individual customer circumstances. To date, we have determined that an allowance for uncollectible trade receivables is not required.
Inventory	Inventory We consider regulatory approval of product candidates to be uncertain, and product manufactured prior to regulatory approval may not be sold unless regulatory approval is obtained. We expense the manufacturing costs for product candidates incurred prior to regulatory approval as research and development expense as we incur them. When regulatory approval of a product is obtained, we begin capitalizing manufacturing costs related to the approved product into inventory, provided such product is produced by a facility the FDA has approved to manufacture the commercial product. We value our inventories at the lower of cost or net realizable value. We determine the cost of inventory using the specific identification method, which approximates a first-in, first-out basis. We analyze our inventory levels quarterly and write down inventory that has become obsolete or has a cost basis in excess of its expected net realizable value, as well as any inventory quantities in excess of expected requirements. Any expired inventory is disposed of and the related costs are recognized as cost of sales in the statement of comprehensive loss. Inventory amounts that are not expected to be consumed within twelve months following the balance sheet date are classified as strategic inventory, a noncurrent asset.
Property and Equipment	Property and Equipment We state property and equipment at cost less accumulated depreciation. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets, ranging from three to five years.
Long-term Obligation	Long-term Obligation In August 2012, we entered into a Purchase and Sale Agreement (Financing Agreement) with Biopharma Secured Debt Fund II Sub, S.à r.l. (Biopharma), a private limited liability company organized under the laws of Luxembourg. Under the terms of the Financing Agreement, we received $30.0 million from Biopharma, which was recorded as a long-term obligation at issuance. We are obligated to make payments calculated as a percentage of (i) any licensing or other contingent payments arising from Korlym and any other products containing mifepristone or any of our proprietary selective GR antagonists (Covered Products) and (ii) net Covered Product revenues earned in the calendar quarter ended June 30, 2013 and thereafter (together, Korlym Receipts), until such time as we have paid Biopharma a total of $45.0 million. Interest expense related to the Financing Agreement is calculated based on the internal interest rate to Biopharma that would result from these assumed payment streams. The accounting for the Financing Agreement requires us to make certain estimates and assumptions, including the timing of royalty payments due to Biopharma, the expected rate of return to Biopharma, the split between current and long-term portions of the obligation and the accretion of related interest expense. Korlym has only been marketed since April 2012 and the magnitude and timing of Korlym revenue is difficult to predict. Therefore, these estimates and assumptions are subject to significant variability and are likely to change as we gain experience marketing Korlym, which will result in changes in our classification of the current and long-term portions of the amounts payable pursuant to the Financing Agreement, as well as the internal rate of return paid to Biopharma and the accretion of interest expense related to this obligation. The amount of our payment with respect to each quarter will be based on Korlym Receipts recorded in that quarter and may differ from our estimates. While changes in timing of Korlym revenue may affect the timing of recognition of interest expense and the split between the current and long-term portions of the obligation at any balance sheet date, the aggregate amount to be repaid to Biopharma is fixed at $45.0 million. The amount shown as the current portion of the obligation is an estimate of the total amount under the Financing Agreement that would be paid to Biopharma within 12 months following December 31, 2014. See Note 6, Long-Term Obligation, for additional information regarding this agreement.
Net Product Sales	Net Product Sales Korlym is not available in retail pharmacies. From our initial launch in April 2012 through June 30, 2013, we sold Korlym primarily to a specialty pharmacy and a specialty distributor, which subsequently resold Korlym to patients and healthcare providers. As of July 1, 2013, we began using Dohmen as our specialty pharmacy. Dohmen operates on a consignment basis, without carrying any Korlym inventory. Accordingly, all of our sales through Dohmen are made directly to patients. We recognize product revenues from sales of Korlym upon delivery to patients as long as (i) there is persuasive evidence that an arrangement exists between ourselves and the customer, (ii) collectability is reasonably assured and (iii) the price is fixed or determinable. Prior authorization or confirmation of coverage level by the patient’s private insurance plan or government payor is a prerequisite to the shipment of product to a patient. In order to conclude that the price is fixed or determinable, we must be able to (i) calculate gross product revenues from the sales to our customers and (ii) reasonably estimate net product revenues. We make cash donations to a non-profit third party organization that provides patients who meet certain eligibility requirements with financial assistance for the treatment of Cushing's syndrome, which treatment may include Korlym. We do not include in net product revenues sales of Korlym tablets to uninsured patients funded through this source. We calculate gross product revenues based on the price that we charge our customers. We estimate our net product revenues by deducting from our gross product revenues (a) trade allowances, such as discounts for prompt payment, (b) estimated government rebates and chargebacks, (c) reserves for expected product returns and (d) estimated costs of our patient co-pay assistance program. We initially record estimates for these deductions at the time we recognize the gross revenue. We update our estimates on a recurring basis as new information becomes available. Trade Allowances: Through June 30, 2013, we offered our specialty pharmacy and specialty distributor customers a discount on Korlym sales for payment within 30 days and a small discount for providing data services. We expected these customers to earn these discounts and, accordingly, deducted them in full from gross product revenues and trade receivables at the time we recognized such revenues. Beginning in the third quarter of 2013, with the change in our sales model discussed above, we ceased incurring a prompt-payment discount on product sold through our specialty pharmacy and the cost of data services is now recorded as operating expense. Rebates and Chargebacks: We contract with Medicaid and other government programs so that Korlym will be eligible for purchase by, or qualify for partial or full reimbursement from, such government programs. We estimate the rebates and chargebacks that we are obligated to provide to government programs and deduct these estimated amounts from our gross product sales at the time the revenues are recognized. We base our estimates of these rebates and chargebacks upon (i) the discount amounts applicable to government-funded programs and (ii) the percentage of sales by our customers to patients who are covered by entities or programs that are eligible for such rebates and chargebacks. Allowances for Patient Co-pay Assistance Program: We provide financial assistance to eligible patients whose insurance policies require them to pay high deductibles and co-pays. We estimate the cost of assistance to be provided under this program by applying our actual experience regarding such assistance to our estimate of the percentage of our sales in the period that will be provided to patients covered by the program. Sales Returns: We estimate the amount of Korlym that we believe will be returned and deduct that estimated amount from gross revenue at the time we recognize such revenue. When estimating future returns, we analyze quantitative and qualitative information including, but not limited to, actual return rates, the amount of product in the distribution channel, the expected shelf life of such product, current and projected product demand, the introduction of competing products that may erode demand, and broad economic and industry-wide indicators. If we cannot reasonably estimate product returns with respect to a particular sale, we defer recognition of revenue from that sale until we can make a reasonable estimate. Because our sales through Dohmen, our specialty pharmacy, which represents the majority of our sales from July 1, 2015 forward, are made to individual patients who do not have the right to return the product, our exposure to product returns is limited to the specialty distributor channel and is not expected to be material.
Cost of Sales	Cost of Sales Cost of sales includes the cost of product (the cost to manufacture Korlym, which includes material, third-party manufacturing costs and indirect personnel and other overhead costs) based on units for which revenue is recognized in the current period, as well as costs of stability testing, logistics and distribution of the product. We began capitalizing Korlym production costs and the cost to acquire mifepristone, the active ingredient (API) in Korlym, as inventory following approval by the FDA in February 2012. Prior to receiving FDA approval for Korlym, we expensed all such costs when incurred as research and development expense. A portion of the product manufactured and the API acquired prior to FDA approval was available for commercial use. As of December 31, 2014, the majority of this pre-approval material has been consumed and the cost of sales for 2015 and future years will include the full cost of the product.
Research and Development	Research and Development Research and development expenses consist of costs incurred for research and development activities that we sponsor. These costs include direct expenses, such as the cost of clinical trials, pre-clinical studies, manufacturing development, preparations for submissions to the FDA and other regulatory bodies and efforts to prosecute and defend those submissions and the development of second-generation compounds, as well as research and development-related overhead expenses. We expense as incurred nonrefundable payments to third parties and our cost of acquiring technologies and materials used in research and development that have no alternative future use. We base our cost accruals for clinical trials, research and preclinical activities on estimates of work completed under service agreements, milestones achieved, patient enrollment and past experience with similar contracts. Our estimates of work completed and associated cost accruals include our assessments of information from third-party contract research organizations and the overall status of clinical trial and other development and administrative activities.
Segment Reporting	Segment Reporting We determine our operating segments based on the way we organize our business to make operating decisions and assess performance. We have only one operating segment, which concerns the discovery, development and commercialization of pharmaceutical products.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation for employee and director options We account for stock-based compensation related to option grants to employees and directors under the fair value method, based on the value of the award at the grant date as determined using the Black-Scholes option valuation model. For service-based awards, we recognize expense over the requisite service period. For options with performance-based vesting criteria, we begin to recognize expense when we believe there is a high degree of probability (i.e., greater than 70%) of achieving the vesting criteria. Stock-based compensation expense related to non-employees We recognize the expense of options granted to non-employees based on the fair-value based measurement of the option grants at the time of vesting. For service-based awards, we recognize expense over the requisite service period. For options with performance-based vesting criteria, we recognize expense based on the minimum number of shares that will vest over time as the criteria are met based on the Black-Scholes valuation of the vested shares. See Note 8 for a detailed discussion of stock-based compensation expense.
Income Taxes	Income Taxes We determine deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities, measured using the enacted tax rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when it is more likely than not that the deferred tax asset will not be realized. No amounts have been recognized as interest or penalties on income tax related matters. The determination of an accounting policy as to the classification of such costs has been deferred until such time as any such costs are incurred.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying this new guidance to contracts within its scope, an entity will: (1) identify the contract(s) with a customer, (2) identify the performance obligation in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. Additionally, this new guidance will require significantly expanded revenue recognition disclosures. This guidance, which will become effective for us as of January 1, 2017, is to be applied retrospectively. Early application is not permitted. We are currently evaluating the new standard, but do not anticipate a material impact to our financial statements once implemented. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, which requires an entity to evaluate whether conditions or events, in the aggregate, raise substantial doubt about the entity's ability to continue as a going concern for one year from the date the financial statements are issued or are available to be issued. The guidance will become effective January 1, 2017. The adoption of ASU 2014-15 is not expected to have an impact on our financial statements.

Preferred Stock and Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

Preferred Stock and Stockholders' Equity [Abstract]

Shares of Common Stock Reserved for Future Issuance



Common stock:	(in thousands)
Exercise of outstanding options	14,704
Exercise of warrants	8,044
Shares available for grant under stock option plans	7,546
	30,294

Summary of Stock Plan Activity



		Outstanding Options
	Shares Available For Future Grant	Options Shares Subject to Options Outstanding		Weighted- Average Exercise Price	Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(in thousands)	(in thousands)			(in years)		(in thousands)
Balance at December 31, 2011	2,251	10,308	$	2.86
Increase in shares authorized for grant	3,369	—		—
Shares granted	(1,695)	1,695	$	3.26
Shares exercised	—	(165)	$	1.91
Shares expired under 2000 Plan	11	(93)	$	7.00
Shares cancelled and forfeited under 2004 and 2012 Plans	119	(119)	$	3.26
Balance at December 31, 2012	4,055	11,626	$	2.90
Increase in shares authorized for grant	3,992	—		—
Shares granted	(3,565)	3,565	$	1.98
Shares exercised	—	(35)	$	1.58
Shares cancelled and forfeited	444	(444)	$	4.58
Balance at December 31, 2013	4,926	14,712	$	2.63
Increase in shares authorized for grant	3,993	—		—
Shares granted	(2,140)	2,140	$	2.62
Shares exercised	—	(1,381)	$	1.34
Shares cancelled and forfeited	767	(767)	$	5.03
Balance at December 31, 2014	7,546	14,704	$	2.62	6.22	$	10,424

Options exercisable at December 31, 2014		10,489	$	2.67	5.29	$	7,866

Options fully vested and expected to vest at December 31, 2014		14,704	$	2.62	6.22	$	10,424

Summary of Options Outstanding and Exercisable



					Options Outstanding							Options Exercisable
Exercise Prices Of Options					Number of Shares	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price			Aggregate Intrinsic Value		Number of Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value
					(in thousands)	(in years)				(in thousands)		(in thousands)			(in thousands)
$	0.96	-	$	2.00	4,885	5.0		$	1.49	$	7,355	3,907	$	1.42	$	6,156
$	2.01	-	$	3.00	4,779	7.4		$	2.36		3,069	2,678	$	2.36		1,710
$	3.01	-	$	4.50	4,844	6.5		$	3.92		—	3,709	$	4.08		—
$	4.51	-	$	5.70	196	0.5		$	5.02		—	195	$	5.02		—
					14,704	6.2		$	2.62	$	10,424	10,489	$	2.67	$	7,866

Summary of Weighted-Average Assumptions and Resultant Fair Value-Based Measurements for Options Granted to Employees and Directors



	Year Ended December 31,
	2014		2013		2012
Weighted-average assumptions for stock options granted:
Risk-free interest rate	1.80%		1.76%		1.06%
Expected term	6	years	8.3	years	6.7	years
Expected volatility of stock price	79.0%		83.9%		86.6%
Dividend rate	0%		0%		0%
Weighted average grant date fair value-based measurement	$	1.77	$	1.54	$	2.41

Summary of Non-Cash Stock-Based Compensation by Financial Statement Classification



	Year ended December 31,
	2014		2013		2012
	(in thousands)
Research and development expense	$	723	$	618	$	546
Selling, general and administrative expense		4,478		4,578		4,764
Total	$	5,201	$	5,196	$	5,310

Warrants Outstanding



	Number of	Exercise		Expiration
	Shares	Price		Date
	(in thousands)
March 2008 Financing	3,842	$	2.77	3/24/2015
March 2012 Warrant Exchange	4,202	$	4.05	3/29/2015
Total warrants outstanding	8,044

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28,29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29
-Article 5

+ Details

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions	1 Months Ended	12 Months Ended	15 Months Ended
	Aug. 31, 2012 USD ($)	Dec. 31, 2014 segment item customer	Jun. 30, 2013
Accounting Policies [Line Items]
Date of incorporation		May 31, 1998
Entity incorporated, State		Delaware
Additional cash and cash equivalents, description		We consider all highly liquid investments purchased with maturities of three months or less from the date of purchase to be cash equivalents.
Number of manufacturers \| item		1
Payment terms for discount on sales of Korlym sales			30 days
Number of operating segments \| segment		1
Financing Agreement with Biopharma [Member]
Accounting Policies [Line Items]
Debt issuance date		Aug. 02, 2012
Proceeds from issuance of long-term obligation, net of cash paid for issuance costs	$ 30.0
Cumulative payments to be made under financing agreement	45.0
Specialty Pharmacy [Member]
Accounting Policies [Line Items]
Percentage of sales to one specialty pharmacy customers			97.00%
Number of customers \| customer		1
Minimum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life		3 years
Probability percentage for achieving performance-based vesting criteria for expense recognition		70.00%
Maximum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life		5 years
Maximum [Member] \| Financing Agreement with Biopharma [Member]
Accounting Policies [Line Items]
Cumulative payments to be made under financing agreement	$ 45.0

Significant Agreements (Narrative) (Details) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
Significant Agreements (Narrative) (Details) - USD ($)	Oct. 31, 1999	Jun. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Debt And Credit Agreements [Line Items]
Cost incurred under the agreement			$ 18,372,000	$ 20,470,000	$ 14,074,000
Stanford License Agreement [Member]
Debt And Credit Agreements [Line Items]
Issuance of common stock in conjunction with a license agreement	30,000
Stanford License Agreement [Member] \| Annual Payment [Member]
Debt And Credit Agreements [Line Items]
Royalty payments to be made	$ 50,000
CuraScript Specialty Pharmacy [Member]
Debt And Credit Agreements [Line Items]
Agreement termination date			July 20, 2013
Return reserve for inventory		$ 300,000
Centric Health Resources, Inc. [Member]
Debt And Credit Agreements [Line Items]
Agreement description			In May 2013, we entered into a services agreement with Dohmen to provide exclusive specialty pharmacy and patient services programs for Korlym beginning July 1, 2013. Under the terms of this agreement, Dohmen acts as the exclusive specialty pharmacy distributor of Korlym in the United States, subject to certain exceptions. Among other services, Dohmen provides services related to pharmacy operations; patient intake, access and reimbursement; patient support; claims management and accounts receivable; and data and reporting. We provide Korlym to Dohmen, which it dispenses to patients. Dohmen does not take title to the product, which passes directly from us to the patient at the time the patient receives the medicine.
Initial agreement period			3 years
Agreement termination, written notice period			180 days
Agreement extension notice period			The initial term of the agreement is a period of three years, with successive automatic renewal terms of three years unless either party gives at least 180 days' prior notice of non-renewal.
Agreement with PCAS [Member]
Debt And Credit Agreements [Line Items]
Agreement description			In March 2014, we entered into a new long-term manufacturing and supply agreement with PCAS for the manufacture of mifepristone, the active pharmaceutical agreement in Korlym. We have agreed to purchase a minimum percentage of our mifepristone requirements from PCAS; the amount of the commitment will depend on our future needs. The initial term of the agreement is five years, with an automatic extension of one year unless either party gives 12 months' prior written notice that it does not want an extension. We have the right to terminate the agreement if PCAS is unable to manufacture the product for a consecutive nine-month period.
Initial agreement period			5 years
Automatic extension period			1 year
Agreement termination, written notice period			12 months
Right to terminate agreement if unable to manufacture product, period			9 months
Agreement with AAI Pharma [Member]
Debt And Credit Agreements [Line Items]
Initial agreement period			3 years
Automatic extension period			2 years
Agreement termination, written notice period			12 months
Termination notice period for manufacturer			18 months
Right to terminate agreement if unable to manufacture product, period			4 months
Ockham Development Group Inc. [Member]
Debt And Credit Agreements [Line Items]
Commitment amount related to service agreement				$ 2,900,000
Cost incurred under the agreement			$ 1,000,000
Quotient Clinical Limited [Member]
Debt And Credit Agreements [Line Items]
Agreement description			In March 2014, we entered into an agreement with Quotient Clinical Limited, a clinical research organization, to assist in the management and conduct of our Phase 1 study of CORT125134, one of our new compounds. The total commitment under the agreement is approximately $2.6 million, which is expected to be expended over approximately a 1-year period. Approximately $1.5 million of the costs under this agreement were incurred through December 31, 2014, with the remainder to be incurred over the course of the trial.
Initial agreement period			1 year
Commitment amount related to service agreement			$ 2,600,000
Cost incurred under the agreement			$ 1,500,000

Long-Term Obligation (Narrative) (Details) - USD ($)	1 Months Ended		12 Months Ended			29 Months Ended
Long-Term Obligation (Narrative) (Details) - USD ($)	Feb. 28, 2015	Aug. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2011
Debt Instrument [Line Items]
Aggregate payments to long-term obligations			$ 4,856,000	$ 1,025,000
Cash and cash equivalents			24,248,000	54,877,000	$ 93,032,000	$ 24,248,000	$ 39,635,000
Accretion of interest expense			3,678,000	4,410,000	$ 1,680,000
Financing Agreement with Biopharma [Member]
Debt Instrument [Line Items]
Proceeds from issuance of long-term obligation, net of cash paid for issuance costs		$ 30,000,000
Cumulative payments to be made under financing agreement		45,000,000
Aggregate payments to long-term obligations			$ 5,900,000
Payment obligation based on a percentage of net product sales			20.00%
Percentage of payments received for upfront, milestone or other contingent fees			20.00%			20.00%
Increase in percentage used to calculate long term payment obligations, description			The percentage used to calculate our payments to Biopharma would increase to 50 percent and any applicable payment caps would lapse if we (i) fail to provide Biopharma with certain information regarding our promotion and sales of Covered Products, (ii) do not devote a commercially reasonable amount of resources to the promotion and marketing of the Covered Products or (iii) violate the indebtedness covenant by incurring indebtedness greater than the sum of earnings before interest, taxes, depreciation and amortization, including such items as non-cash stock-based compensation, for the four calendar quarters preceding such incurrence and, in each case, fail to cure within the applicable cure period.
Interest expense on long-term obligation			$ 3,700,000	4,400,000
Accretion of interest expense						$ 9,800,000
Long term debt carrying value			33,900,000	$ 35,100,000		33,900,000
Issuance costs capitalized			140,000			140,000
Unamortized issuance cost			$ 58,000			$ 58,000
Financing Agreement with Biopharma [Member] \| Subsequent Events [Member]
Debt Instrument [Line Items]
Aggregate payments to long-term obligations	$ 1,900,000
Financing Agreement with Biopharma [Member] \| Cash Required Under Debt Covenants [Member]
Debt Instrument [Line Items]
Debt covenant, description			pursuant to this agreement, we are not allowed to pay a dividend or other cash distribution, unless we will have cash and cash equivalents in excess of $50.0 million after such payment.
Minimum [Member] \| Financing Agreement with Biopharma [Member] \| Cash Required Under Debt Covenants [Member]
Debt Instrument [Line Items]
Cash and cash equivalents		50,000,000
Maximum [Member] \| Financing Agreement with Biopharma [Member]
Debt Instrument [Line Items]
Cumulative payments to be made under financing agreement		$ 45,000,000
Payment obligation based on a percentage of net product sales			50.00%
Maximum [Member] \| Financing Agreement with Biopharma [Member] \| Quarterly Payment During 2015 [Member]
Debt Instrument [Line Items]
Quarterly payment amount cap			$ 3,750,000
Maximum [Member] \| Financing Agreement with Biopharma [Member] \| Quarterly Payment During 2016 and Later [Member]
Debt Instrument [Line Items]
Quarterly payment amount cap			$ 0

Preferred Stock and Stockholders' Equity (Narrative) (Details)					1 Months Ended		12 Months Ended
	Feb. 18, 2015 shares	Feb. 06, 2014 shares	Jul. 06, 2012 USD ($) $ / shares shares	Mar. 29, 2012 $ / shares shares	May 31, 2014 shares	Apr. 30, 2010 shares	Dec. 31, 2014 USD ($) item $ / shares shares	Dec. 31, 2013 USD ($) $ / shares shares	Dec. 31, 2012 USD ($) $ / shares shares	Dec. 31, 2008 USD ($) shares	Dec. 31, 2011 shares
Shareholders Equity [Line Items]
Preferred stock, shares authorized							10,000,000	10,000,000
Preferred stock, par value \| $ / shares							$ 0.001	$ 0.001
Preferred stock, shares outstanding							0	0
Common stock shares issued upon exercise of warrants					164,666
Warrant exercised on a cashless net-exercise basis					529,567
Common stock, shares issued			11,000,000
Common stock, price per share \| $ / shares			$ 4.49
Net sales from sale of common stock \| $			$ 46,100,000
Liquidated damages to other non-operating expense \| $										$ 1,300,000
Percentage of liquidated damages										5.00%
Number of additional shares authorized for issuance							3,993,000	3,992,000	3,369,000
Number of stock option plans \| item							3
Number of shares issuable							10,489,000
Shares available for future grants							7,546,000	4,926,000	4,055,000		2,251,000
Total intrinsic value of options exercised \| $							$ 3,000,000	$ 55,000	$ 303,000
Fair value of options vested \| $							$ 4,600,000	5,000,000	5,000,000
Forfeiture rate, stock option expense							0.00%
Non-cash stock-based compensation expense \| $							$ 5,201,000.00	$ 5,196,000.00	$ 5,310,000.00
Unrecognized compensation expense \| $							$ 7,100,000
Unrecognized compensation expense, weighted-average vesting period							2 years 6 months
Common shares to be issued upon exercise of options							1,381,000	35,000	165,000
2012 Equity Incentive Award Plan [Member]
Shareholders Equity [Line Items]
Increase in shares available for issuance based on percentage of common stock outstanding							4.00%	4.00%
Shares available for future grants							7,500,000		5,300,000
Minimum [Member] \| 2004 Equity Incentive Plan [Member]
Shareholders Equity [Line Items]
Exercise price as percentage of fair value of common stock							100.00%
Stock options, vesting period							1 year
Minimum [Member] \| 2012 Stock Option Plan [Member]
Shareholders Equity [Line Items]
Exercise price as percentage of fair value of common stock							100.00%
Stock options, vesting period							1 year
Maximum [Member] \| 2004 Equity Incentive Plan [Member]
Shareholders Equity [Line Items]
Stock options, vesting period							5 years
Maximum [Member] \| 2012 Stock Option Plan [Member]
Shareholders Equity [Line Items]
Stock options, vesting period							4 years
Non-employee [Member]
Shareholders Equity [Line Items]
Number of awards outstanding \| item							3
Non-cash stock-based compensation expense \| $							$ 470,000	$ 127,000	$ 208,000
Unvested shares							149,000
Subsequent Events [Member] \| 2012 Equity Incentive Award Plan [Member]
Shareholders Equity [Line Items]
Number of additional shares authorized for issuance	4,100,000	4,000,000
Employee And Director Stock Option [Member]
Shareholders Equity [Line Items]
Non-cash stock-based compensation expense \| $								$ 5,100,000	5,100,000
Performance Based Option [Member] \| Employee And Director Stock Option [Member]
Shareholders Equity [Line Items]
Non-cash stock-based compensation expense \| $									$ 1,300,000
Warrants [Member]
Shareholders Equity [Line Items]
Common stock shares issued upon exercise of warrants									216,000
Proceeds from warrant exercises \| $									$ 470,000
Warrants [Member] \| Minimum [Member]
Shareholders Equity [Line Items]
Exercise price of warrants \| $ / shares									$ 1.66
Warrants [Member] \| Maximum [Member]
Shareholders Equity [Line Items]
Exercise price of warrants \| $ / shares									$ 2.96
April 2010 Private Placement [Member]
Shareholders Equity [Line Items]
Common stock shares issued upon exercise of warrants				4,200,000		4,200,000
Exercise price of warrants \| $ / shares				$ 2.96
April 2010 and March 2012 Private Placements [Member]
Shareholders Equity [Line Items]
Proceeds from warrant exercises and issuance of new warrants \| $							$ 12,800,000
March 2012 Private Placement [Member]
Shareholders Equity [Line Items]
Latest date warrants can be exercised							Mar. 29, 2015
Private Placement [Member]
Shareholders Equity [Line Items]
Exercise price of warrants \| $ / shares				$ 4.05
Warrants issued and outstanding										4,500,000
Stock and warrants issued during period										8,900,000
Related Parties [Member] \| March 2012 Private Placement [Member]
Shareholders Equity [Line Items]
Percentage of securities sold to related parties							40.00%

Preferred Stock and Stockholders' Equity (Summary of Stock Plan Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Shares Available For Future Grant
Beginning balance	4,926	4,055	2,251
Increase in shares authorized for grant	3,993	3,992	3,369
Shares granted	(2,140)	(3,565)	(1,695)
Shares cancelled and forfeited	767	444
Ending balance	7,546	4,926	4,055
Shares Subject to Options Outstanding
Beginning balance	14,712	11,626	10,308
Shares granted	2,140	3,565	1,695
Shares exercised	(1,381)	(35)	(165)
Shares cancelled and forfeited	(767)	(444)
Ending balance	14,704	14,712	11,626
Options exercisable	10,489
Options fully vested and expected to vest	14,704
Outstanding Options, Weighted- Average Exercise Price
Beginning balance	$ 2.63	$ 2.90	$ 2.86
Shares granted	2.62	1.98	3.26
Shares exercised	1.34	1.58	1.91
Shares cancelled and forfeited	5.03	4.58
Ending balance	2.62	$ 2.63	$ 2.90
Options exercisable	2.67
Options fully vested and expected to vest	$ 2.62
Outstanding Options, Weighted Average Remaining Contractual Life
Weighted average remaining contractual life	6 years 2 months 19 days
Weighted average remaining contractual life, Options exercisable	5 years 3 months 15 days
Weighted average remaining contractual life, Options fully vested and expected to vest	6 years 2 months 19 days
Outstanding Options, Aggregate Intrinsic Value
Aggregate Intrinsic Value	$ 10,424
Options exercisable	7,866
Options fully vested and expected to vest	$ 10,424
2000 Stock Option Plan [Member]
Shares Available For Future Grant
Shares expired			11
Shares Subject to Options Outstanding
Shares expired			(93)
Outstanding Options, Weighted- Average Exercise Price
Shares expired			$ 7.00
2004 and 2012 Plans [Member]
Shares Available For Future Grant
Shares cancelled and forfeited			119
Shares Subject to Options Outstanding
Shares cancelled and forfeited			(119)
Outstanding Options, Weighted- Average Exercise Price
Shares cancelled and forfeited			$ 3.26

Preferred Stock and Stockholders' Equity (Summary of Options Outstanding and Exercisable) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Shares	14,704	14,712	11,626	10,308
Options Outstanding, Weighted Average Remaining Contractual Life (in years)	6 years 2 months 19 days
Options Outstanding, Weighted Average Exercise Price	$ 2.62	$ 2.63	$ 2.90	$ 2.86
Options Outstanding, Aggregate Intrinsic Value	$ 10,424
Options Exercisable, Number of Shares	10,489
Options Exercisable, Weighted Average Exercise Price	$ 2.67
Options Exercisable, Aggregate Intrinsic Value	$ 7,866
$0.96 - $ 2.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Of Options, minimum	$ 0.96
Exercise Price Of Options, Maximum	$ 2.00
Options Outstanding, Number of Shares	4,885
Options Outstanding, Weighted Average Remaining Contractual Life (in years)	5 years
Options Outstanding, Weighted Average Exercise Price	$ 1.49
Options Outstanding, Aggregate Intrinsic Value	$ 7,355
Options Exercisable, Number of Shares	3,907
Options Exercisable, Weighted Average Exercise Price	$ 1.42
Options Exercisable, Aggregate Intrinsic Value	$ 6,156
$2.01 - $ 3.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Of Options, minimum	$ 2.01
Exercise Price Of Options, Maximum	$ 3.00
Options Outstanding, Number of Shares	4,779
Options Outstanding, Weighted Average Remaining Contractual Life (in years)	7 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price	$ 2.36
Options Outstanding, Aggregate Intrinsic Value	$ 3,069
Options Exercisable, Number of Shares	2,678
Options Exercisable, Weighted Average Exercise Price	$ 2.36
Options Exercisable, Aggregate Intrinsic Value	$ 1,710
$3.01 - $ 4.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Of Options, minimum	$ 3.01
Exercise Price Of Options, Maximum	$ 4.50
Options Outstanding, Number of Shares	4,844
Options Outstanding, Weighted Average Remaining Contractual Life (in years)	6 years 6 months
Options Outstanding, Weighted Average Exercise Price	$ 3.92
Options Exercisable, Number of Shares	3,709
Options Exercisable, Weighted Average Exercise Price	$ 4.08
$4.51 - $ 5.70 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Of Options, minimum	4.51
Exercise Price Of Options, Maximum	$ 5.70
Options Outstanding, Number of Shares	196
Options Outstanding, Weighted Average Remaining Contractual Life (in years)	6 months
Options Outstanding, Weighted Average Exercise Price	$ 5.02
Options Exercisable, Number of Shares	195
Options Exercisable, Weighted Average Exercise Price	$ 5.02

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2014
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	3. Fair Value of Financial Instruments As of December 31, 2014 and 2013, we had invested our financial assets in a money market fund that can be converted to cash at par on demand. We measured these funds, which totaled $21.9 million and $52.9 million as of December 31, 2014 and 2013, respectively, at fair value, which approximates cost, as of the respective dates and classified them as Level 1 assets in the fair value hierarchy for financial assets. All cash equivalents and short-term investments held as of December 31, 2014 and 2013 were in active markets and valued based upon their quoted prices. We did not recognize any realized gains or losses on sales of investments for any period presented.

Lease Obligations	12 Months Ended
Lease Obligations	Dec. 31, 2014
Lease Obligations [Abstract]
Lease Obligations	6. Lease Obligations In May 2014, we exercised our option to extend the lease for our office space through December 2015. At December 31, 2014, the remaining minimum rental payments under this operating lease were $631,000. Through December 31, 2014, we have entered into operating leases for automobiles provided to our sales force and medical science liaisons. The leases are for periods of three years each. At December 31, 2014, the remaining obligation for base rental payments under these leases was $180,000. Rent expense amounted to $609,000, $428,000 and $360,000, for the years ended December 31, 2014, 2013 and 2012, respectively.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	7. Related Party Transactions See discussion below in Note 8, Preferred Stock and Stockholders’ Equity, under the caption Common Stock, regarding the sale of securities in March 2012 to various investors, including members of our board of directors and related entities.

Commitments	12 Months Ended
Commitments	Dec. 31, 2014
Commitments [Abstract]
Commitments	11. Commitments We have entered into a number of agreements to conduct clinical trials and pre-clinical studies for further development of our lead product, Korlym, and our proprietary, selective GR antagonists. See the discussion in Note 2, Significant Agreements, for further discussion regarding the commitments under these agreements. In the ordinary course of our business, we make certain indemnities, commitments and guarantees under which we may be required to make payments in relation to certain transactions. These include indemnities of clinical investigators and contract research organizations involved in the development of our clinical stage product candidates, indemnities of contract manufacturers and indemnities to our directors and officers to the maximum extent permitted under the laws of the State of Delaware. The duration of these indemnities, commitments and guarantees varies, and in certain cases, is indefinite. The majority of these indemnities, commitments and guarantees do not provide for any limitation of the maximum potential future payments that we could be obligated to make. We have not recorded any liability for these indemnities, commitments and guarantees in the accompanying balance sheets. However, we would accrue for losses for any known contingent liability, including those that may arise from indemnification provisions, when future payment is probable. No such losses have been recorded to date.

Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Level 1 [Member] \| Money Market Fund [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market fund, fair value	$ 21.9	$ 52.9

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED BALANCE SHEETS [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	280,000,000	280,000,000
Common stock, shares issued	101,395,000	99,849,000
Common stock, shares outstanding	101,395,000	99,849,000

Composition of Certain Balance Sheet Items (Composition of Inventory) (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Composition of Certain Balance Sheet Items [Abstract]
Raw materials	$ 3,595	$ 4,318
Work in progress	15	2
Finished goods	1,687	1,226
Total inventory	5,297	5,546
Less strategic inventory classified as non-current	(4,090)	(4,450)
Total inventory classified as current	$ 1,207	$ 1,096

Composition of Certain Balance Sheet Items (Property and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Other Liabilities [Line Items]
Property and equipment	$ 525	$ 351
Less: accumulated depreciation	(289)	(148)
Property and equipment net	236	203
Furniture and Equipment [Member]
Other Liabilities [Line Items]
Property and equipment	253	183
Vehicles [Member]
Other Liabilities [Line Items]
Property and equipment	65	38
Software [Member]
Other Liabilities [Line Items]
Property and equipment	193	116
Leasehold Improvements [Member]
Other Liabilities [Line Items]
Property and equipment	$ 14	$ 14

Composition of Certain Balance Sheet Items (Other Accrued Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Composition of Certain Balance Sheet Items [Abstract]
Accrued compensation	$ 564	$ 466
Professional fees	330	369
Commercialization costs	556	288
Government rebates	275	40
Legal fees	120	110
Other	31	28
Other accrued liabilities	$ 1,876	$ 1,301

Long-Term Obligation (Summary of Payment Obligations under Financing Agreement) (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Long-Term Obligation [Abstract]
Total repayment obligation	$ 45,000	$ 45,000
Less interest to be accreted in future periods	(5,232)	(8,910)
Less payments made	(5,881)	(1,025)
Less current portion	(9,424)	(5,743)
Long-term obligation, net of current portion	$ 24,463	$ 29,322

Lease Obligations (Narrative) (Details) - USD ($)	12 Months Ended
Lease Obligations (Narrative) (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating Leased Assets [Line Items]
Rent expenses	$ 609,000	$ 428,000	$ 360,000
Office Space [Member]
Operating Leased Assets [Line Items]
Minimum rental payment for lease	631,000
Automobiles [Member]
Operating Leased Assets [Line Items]
Minimum rental payment for lease	$ 180,000
Term of leases	3 years

Preferred Stock and Stockholders' Equity (Warrants Outstanding) (Details)	12 Months Ended
	Dec. 31, 2014 USD ($) $ / shares
Class of Warrant or Right [Line Items]
Number of shares	$ 8,044,000.00
March 2008 Financing [Member]
Class of Warrant or Right [Line Items]
Number of shares	$ 3,842,000.00
Exercise Price \| $ / shares	$ 2.77
Expiration Date	Mar. 24, 2015
March 2012 Warrant Exchange [Member]
Class of Warrant or Right [Line Items]
Number of shares	$ 4,202,000.00
Exercise Price \| $ / shares	$ 4.05
Expiration Date	Mar. 29, 2015

Net Loss Per Share (Details) - shares shares in Thousands	12 Months Ended
Net Loss Per Share (Details) - shares shares in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities outstanding that could potentially dilute per share data	22,748	23,286	20,530
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities outstanding that could potentially dilute per share data	14,704	14,712	11,626
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities outstanding that could potentially dilute per share data	8,044	8,574	8,904

Income Taxes (Significant Components of Deferred Tax Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets:
Federal and state net operating losses	$ 65,012	$ 55,955
Capitalized research and patent costs	25,567	23,395
Research credits	22,789	21,252
Biopharma Financing Agreement	13,296	13,021
Stock-based compensation costs	6,410	5,398
Other	2,995	1,148
Total deferred tax assets	136,069	120,169
Valuation allowance	(136,069)	(120,169)
Net deferred tax assets

Commitments (Narrative) (Details)	Dec. 31, 2014 USD ($)
Commitments [Abstract]
Losses for contingent liability	$ 0

Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Data [Abstract]
Product sales, net	$ 9,013	$ 7,282	$ 5,851	$ 4,405	$ 4,115	$ 2,634	$ 1,891	$ 1,717	$ 26,551	$ 10,357	$ 3,307
Gross profit on product sales	8,755	7,047	5,636	4,231	4,055	2,594	1,868	1,697
Net loss	$ (3,895)	$ (6,006)	$ (7,552)	$ (13,930)	$ (11,124)	$ (10,906)	$ (11,897)	$ (12,084)	$ (31,383)	$ (46,011)	$ (38,048)
Basic and diluted net loss per share	$ (0.04)	$ (0.06)	$ (0.07)	$ (0.14)	$ (0.11)	$ (0.11)	$ (0.12)	$ (0.12)	$ (0.31)	$ (0.46)	$ (0.41)