Corcept Therapeutics Incorporated

session. Good day, and thank you for standing by. Welcome to the Corset Therapeutics Conference Call. At this time, all participants are listening remotely. After speaker's initiation, there will be a question and answer session. For any questions during the session, you'll need to press star 1 on your telephone, who then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 again. Please be advised that today's conference is being recorded. I'd like to hand the conference over to your first speaker today, Latakha Makar, Chief Financial Officer. Please go ahead.

Hello, everyone. Good afternoon, and thank you for joining us. Today, we issued a press release announcing our financial results for the third quarter and providing a corporate update. A copy is available at CoreSet.com. Our complete financial results will be available when we file our 410Q with 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, all of which are publicly available at the SEC's website. Please refer to those documents for additional information. We disclaim any intention or duty to update forward-looking statements. Our revenue in the third quarter of 2024 was $182.5 million, an increase of 48% compared to the third quarter of last year. We expect our revenue growth to continue and have increased our 2024 revenue guidance to $675 to $700 million. Net income was $47.2 million in the third quarter compared to $31.4 million in the third quarter of the prior year. Our cash and investments at September 30th were $547.6 million compared to $492.5 million at June 30th. We acquired $23.4 million of our common stock in the third quarter pursuant to our stock repurchase program, the net exercise of stock options by CoreSept employees, and the net vesting of restricted stock grants. I will now turn the call over to Charlie Robb, our Chief Business Officer. Charlie?

Thanks, Adelbach. I don't have much to report this quarter. As many of you know, in March 2018, we sued Teva Pharmaceuticals to stop it from marketing a generic version of Coraline in violation of our patents. In December of last year, the trial court ruled against us, 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, and the next step is for the Federal Circuit to schedule oral argument. The court could schedule oral argument as early as January of next year and issue a decision in the next quarter. If we prevail, Teva would lose FDA approval of its product and, at least until the expiration of our patents in 2037, would be unable to market the product. As I've said before, we are eager to advance this appeal. We strongly believe that our position is correct and that the 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. Joe?