Corcept Faces Securities Fraud Lawsuit After FDA Rejection Triggered 50% Stock Plunge
CORT sits 19% above its 52-week low of $28.66.
Summary
Kahn Swick & Foti, LLC is soliciting lead plaintiffs for a securities fraud class action lawsuit against Corcept Therapeutics. The lawsuit alleges the company failed to disclose material information regarding the likelihood of FDA approval for its drug candidate, relacorilant, between October 2024 and December 2025. This follows the FDA's Complete Response Letter for relacorilant on December 31, 2025, which led to a 50.4% stock decline. While the FDA decision and subsequent stock drop were previously disclosed (as noted in the company's 10-K), the formal initiation of a class action lawsuit introduces new legal and financial risks for Corcept, potentially leading to significant litigation costs and damages. Investors have until April 21, 2026, to file lead plaintiff applications.
At the time of this announcement, CORT was trading at $34.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $28.66 to $117.33. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Access Newswire.