Corcept Therapeutics faces securities lawsuit over FDA rejection
Corcept Therapeutics is facing a securities lawsuit following an FDA rejection of its drug relacorilant, causing a significant stock price drop.Summary
Corcept Therapeutics is the subject of a securities class action lawsuit filed by Kahn Swick & Foti, with a lead plaintiff application deadline of April 21, 2026. The lawsuit concerns investors who purchased Corcept shares between October 31, 2024, and December 30, 2025, alleging that the company failed to disclose material information regarding the likelihood of FDA approval for its drug candidate, relacorilant. Specifically, the FDA issued a Complete Response Letter on December 31, 2025, stating it needed additional evidence of effectiveness. This announcement led to a 50.4% drop in Corcept’s share price, falling from $70.20 to $34.80.
Further compounding the issues, Corcept’s fourth-quarter 2025 financial results fell short of Wall Street expectations, with revenues of $202.1 million compared to an estimated $249.5 million, and full-year revenues of $761.4 million, missing the $800-850 million guidance. Adjusted earnings per share were also below expectations at $0.20 versus $0.25.
H.C. Wainwright adjusted its price target for Corcept Therapeutics downwards to $60 from $67, citing supply issues, while maintaining a Buy rating. The case is titled Allegheny County Employees’ Retirement System v. Corcept Therapeutics Incorporated, No. 26-cv-01525.
(Source：Investing India)