Corcept Therapeutics (CORT) Faces Investor Scrutiny Amid Receipt of FDA Complete Response Letter For Relacorilant, Shares Tank 50% – Hagens Berman
01/07/2026 05:58 PM • Corcept Therapeutics (CORT) shares plummeted 50% on December 31, 2025, after the company received an FDA Complete Response Letter for relacorilant, indicating the FDA requires additional evidence of effectiveness for the hypercortisolism treatment. The sharp decline wiped out $3.6 billion in market capitalization, prompting a shareholder rights investigation into whether the company misled investors about the drug's efficacy and commercial prospects.
CORT - The company received an FDA Complete Response Letter rejecting its drug application, resulting in a 50% stock price decline and $3.6 billion market cap loss. The investigation suggests potential investor misrepresentation regarding drug efficacy and commercial growth prospects.