Corcept Therapeutics Incorporated (CORT) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

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 first quarter and providing a corporate update. The copy is available at coursef.com. Our complete financial results will be available when we file our Form 10-Q 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 than those such statements express or imply. The risks and uncertainties that may affect our forward-looking statements are described in our annual report on Form 10-K and our quarterly reports on Form 10Q, 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 revenue in the first quarter of 2025 was $157.2 million, compared to $146.8 million in the first quarter of last year. We are reiterating our 2025 revenue guidance of $900 to $950 million. Net income was $20.5 million in the first quarter of 2025 compared to $27.8 million in the first quarter of last year. Our cash and investments on March 31st were $570.8 million. We acquired $43 million of our common stock in the first quarter of 2025 pursuant to our stock repurchase program, the net exercise of ...