Corcept Therapeutics stock rose 5.0% despite significant negative developments. On December 31, 2025, the FDA issued a Complete Response Letter rejecting the company's relacorilant drug application for treating hypertension in patients with hypercortisolism, citing inadequate clinical evidence. The stock initially fell over 50 percent on this news. Subsequently, multiple securities class action lawsuits were filed alleging the company misrepresented the strength of clinical evidence to investors, claiming the drug was backed by "powerful evidence" while the FDA had repeatedly warned during pre-submission meetings about concerns regarding clinical data adequacy. Additionally, a U.S. Court of Appeals ruled that Teva's proposed generic does not infringe two Korlym patents. HC Wainwright lowered its price target from $105 to $67 while maintaining a buy rating. Insider selling of approximately 129,500 shares occurred in recent months.
Read full analysisCorcept Therapeutics stock rose 5.0% despite significant negative developments. On December 31, 2025, the FDA issued a Complete Response Letter rejecting the company's relacorilant drug application for treating hypertension in patients with hypercortisolism, citing inadequate clinical evidence. The stock initially fell over 50 percent on this news. Subsequently, multiple securities class action lawsuits were filed alleging the company misrepresented the strength of clinical evidence to investors, claiming the drug was backed by "powerful evidence" while the FDA had repeatedly warned during pre-submission meetings about concerns regarding clinical data adequacy. Additionally, a U.S. Court of Appeals ruled that Teva's proposed generic does not infringe two Korlym patents. HC Wainwright lowered its price target from $105 to $67 while maintaining a buy rating. Insider selling of approximately 129,500 shares occurred in recent months.
Corcept Therapeutics develops treatments for severe conditions using cortisol modulation, with its sole commercial product Korlym approved for Cushing's syndrome and a pipeline candidate, relacorilant, showing strong Phase 3 data in platinum-resistant ovarian cancer with estimated $3.38B peak sales. The company faces a dual crisis: the FDA rejected its relacorilant application for Cushing's syndrome in late December, and a Federal Circuit court last week cleared Teva to market a generic version of Korlym — threatening the company's entire current revenue base. Today's Q4 earnings report is management's first public opportunity to address both threats and outline a path forward.