Corcept Therapeutics Incorporated

Hello. Thank you for standing by. Welcome to Core SEP 3rd, Pewter's conference call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask the question during this session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. I would now like to turn the call over to Adelback McCord. You may begin.

Hello, everyone. Good afternoon, and thank you for joining us. Today, we issued a press release announcing our financial results for the second quarter and providing a corporate update. A copy is available at coursef.com. Our complete financial results will be available when we file our Form 10-2 with the SEC. Today's call is being recorded. A replay will be available at the Investors Past Events tab of our website. Statements during this call, other than statements of historical fact, are forward-looking statements based on our plans and expectations that are subject to risks and uncertainties, which might cause actual results to be materially different from those such statements express or imply. These forward-looking statements are described in today's press release, and the risks and uncertainties that may affect them are described in the press release and in our annual report on Form 10-K and our quarterly reports on Form 10-Q. Please refer to those documents for additional information. we disclaim any intention or duty to update forward-looking statements. Our revenue in the second quarter of 2024 was $163.8 million, an increase of 39% compared to the second quarter of the prior year. We expect our revenue growth to continue and have increased our 2024 revenue guidance to $640 to $670 million. Net income was $35.5 million in the second quarter compared to $27.5 million in the second quarter of the prior year. Our cash and investments at June 30th was $492.5 million. I will now turn the call over to Charlie Robb, our Chief Business Officer. Charlie?

Thanks, Ataback. I don't have much to report this quarter. As many of you know, in March 2018, we sued Teva to stop it from marketing a generic version of Corlum in violation of our patents. In December last year, the trial court ruled against us. We've appealed that decision to the Federal Circuit Court of Appeals. Briefing in the matter is complete. The documents are available at the government's PACER website, if anyone would like to review them. And the next step is for the Federal Circuit to schedule oral argument. The timing of oral argument and issuance of an opinion are entirely up to the Federal Circuit and can't be known with certainty. As I said before, a reasonable expectation would be for oral arguments to take place in the fourth quarter, perhaps late in the third quarter of this year, with a decision issuing in the first quarter of 2025, possibly very late in the fourth quarter of 2024. If we prevail, TEVA would lose FDA approval of its product and have to remove it from the market, at least until the expiration of our patents in 2037. As I've said before, we're eager to advance this appeal. We strongly believe that our position is correct, Federal Circuit, with its deep expertise in patent law, will agree. I'll now turn the call over to Joe Belanoff, our Chief Executive Officer.