Corcept Therapeutics Incorporated (NASDAQ:CORT) Q4 2022 Earnings Conference Call February 28, 2023 5:00 PM ET
Company Participants
Atabak Mokari - Chief Financial Officer
Charlie Robb - Chief Business Officer
Joseph Belanoff - Chief Executive Officer
Bill Guyer - Chief Development Officer
Sean Maduck - President of Endocrinology Division
Conference Call Participants
Raymond Wu - Ladenburg Thalmann
Dennis Ding - Jefferies
Greg Fraser - Truist
Arthur He - H.C. Wainwright
Operator
Greetings, and welcome to the Corcept Therapeutics Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Atabak Mokari, CFO. Thank you. You may now begin.
Atabak Mokari
Good afternoon, and thank you for joining us. I'm Atabak Mokari, Corcept's Chief Financial Officer. 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-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 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 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 fourth quarter of 2022 was $103.1 million compared to $98.8 million in the fourth quarter of 2021. We expect our revenue growth to continue and have provided 2023 revenue guidance of $430 million to $450 million compared to 2022 revenue of $401.9 million.
Net income was $16.6 million in the fourth quarter and $101.4 million for the full year 2022.
Our cash and investments at December 31 was $436.6 million compared to $335.8 million at the end of the prior year.
I will now turn the call over to Charlie Robb, our Chief Business Officer, to provide a legal update. Charlie?