Corcept Therapeutics Incorporated

conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Adhavok Makari, CFO. 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 fourth quarter and providing a corporate update. A copy is available at coursehub.com. Our complete financial results will be available when we file our Form 10-K 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. The risks and uncertainties that may affect our forward statements are described in our annual report on Form 10-K and our quarterly reports on Form 10-Q, all of which are 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 2024 revenue was $675 million, an increase of 40% compared to the prior year. We expect our revenue growth to continue and to provide a 2025 revenue guidance of $900 to $950 million. Net income was $141 million for the full year 2024, an increase of 33% compared to the prior year. Our cash and investments at December 31st, 2024 were $603 million, compared to $425 million at the end of the prior year. In 2024, we acquired $38 million of our common stock pursuant to our stock repurchase program, the net exercise of stock options by Corecept 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, Audubon. 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 version of Quarlem in violation of our patents. In December of last year, the trial court ruled against us. We have appealed that decision to the Federal Circuit Court of Appeals. Briefing in the matter is complete. Documents are available at the government's PACER website. And the next step is for the Federal Circuit to schedule oral argument, which is still not done. The earliest plausible date, given the court's scheduling process, is for argument in May or later, the decision issuing three or four months after that. No matter the affluent's schedule, if we prevail, TEVA would lose FDA approval of its product and be required to withdraw it from the market until the expiration of our patents in 2037. As I've said before, we are eager to advance this appeal. We strongly believe that our position is correct, that the Federal Circuit will agree. We'll now turn the call over to Joe Belanoff, our Chief Executive Officer. Joe?