2024-02-15 21:50:02 ET
Corcept Therapeutics Incorporated (CORT)
Q4 2023 Earnings Conference Call
February 15, 2024, 05:00 PM ET
Company Participants
Atabak Mokari - Chief Financial Officer
Charlie Robb - Chief Business Officer
Joseph Belanoff - Chief Executive Officer, President and Director
Sean Maduck - President, Corcept Endocrinology
William Guyer - Chief Development Officer
Conference Call Participants
Matt Kaplan - Ladenburg Thalmann
David Amsellem - Piper Sandler
Swayampakula Ramakanth - H.C. Wainwright
Joon Lee - Truist
Presentation
Operator
Welcome to the Corcept Therapeutics Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised, today's conference is being recorded.
I would like to turn the call over Atabak Mokari. Please go ahead.
Atabak Mokari
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 corcept.com. Our complete financial results will be available when we file our Form 10-Q 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 may cause actual results to differ materially from those such statements expressed or implied. 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 or 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 fourth quarter of 2023 was $135.4 million, an increase of 31% compared to the fourth quarter of the prior year. We expect our revenue growth to continue and are reiterating 2024 revenue guidance of $600 million to $630 million, compared to 2023 revenue of $482.4 million. Net income was $31.4 million in the fourth quarter and $106.1 million for the full year of 2023. Our cash and investments at December 31 was $425.4 million....
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Corcept Therapeutics Incorporated (CORT) Q4 2023 Earnings Call Transcript