Archived Investigations
Corcept Therapeutics Incorporated (NasdaqCM: CORT)
Corcept and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The complaint alleges that, during the Class Period, the Company represented to investors that there was a high likelihood that one of its lead new product candidates, relacorilant, would receive approval from the U.S. Food and Drug Administration (“FDA”) after the Company’s New Drug Application (“NDA”) submission. However, on December 31, 2025, the Company disclosed that the FDA had issued a Complete Response Letter (“CRL”) regarding the NDA for relacorilant and that it had “concluded it could not arrive at a favorable benefit-risk assessment for relacorilant without Corcept providing additional evidence of effectiveness.”
On this news, the price of Corcept’s shares plummeted by $35.40 per share, or 50.4%, from a closing price of $70.20 on December 30, 2025, to a closing price of $34.80 on December 31, 2025.
The case is Allegheny County Employees’ Retirement System v. Corcept Therapeutics Incorporated, No. 26-cv-01525.