cept Therapeutics rporated(US:CORT) Prnewswire·2026-01-21 23:36Core Viewpoint - Corcept Therapeutics experienced a significant decline in share price, dropping 50% after receiving a complete response letter from the FDA regarding its treatment relacorilant for hypercortisolism, leading to a loss of over $3.6 billion in market capitalization [1][3]. Company Overview - Corcept Therapeutics has previously promoted relacorilant's efficacy and commercial potential, claiming that clinical trial patients showed meaningful improvements in hypercortisolism symptoms [3]. - The company expressed confidence in achieving annual revenues of $3 billion to $5 billion from its hypercortisolism business within three to five years [3]. FDA Response - The FDA's complete response letter indicated that additional evidence of effectiveness was required for relacorilant, contradicting Corcept's previous assurances about the drug's progress toward approval [3]. - A report noted that the likelihood of loss of blood pressure control was 83% lower in the relacorilant group compared to placebo, which may have influenced the FDA's decision [3]. Legal Investigation - Hagens Berman, a national shareholder rights law firm, has initiated an investigation into whether Corcept misled investors regarding relacorilant's efficacy and commercial prospects [2][4]. - The firm is encouraging investors who suffered losses to come forward and discuss their rights [2][4].