cept Therapeutics rporated(US:CORT) Globenewswire·2026-03-17 22:25Core Viewpoint - Corcept Therapeutics is facing a securities class action lawsuit due to alleged misleading statements regarding its lead drug candidate, relacorilant, which has resulted in significant investor losses [2][4][7]. Group 1: Lawsuit Details - The lawsuit, titled Allegheny County Employees' Retirement System v. Corcept Therapeutics Inc., was filed in the U.S. District Court for the Northern District of California [2]. - The action seeks to recover losses for all individuals and entities that purchased Corcept common stock between October 31, 2024, and December 30, 2025 [2]. - Investors have until April 21, 2026, to apply for Lead Plaintiff status in the lawsuit [1][4]. Group 2: Allegations Summary - The complaint alleges that Corcept made materially false and misleading statements about relacorilant by failing to disclose critical information regarding its clinical data and FDA communications [4][7]. - The FDA reportedly warned Corcept multiple times in 2024 and early 2025 that its clinical data was insufficient to support a New Drug Application [7]. - Despite knowing the FDA's concerns, Corcept continued to promote Phase 3 results, which were later deemed fundamentally flawed by the FDA [7]. Group 3: Market Impact - On December 31, 2025, Corcept disclosed it received a Complete Response Letter (CRL) from the FDA, indicating an unfavorable benefit-risk assessment for relacorilant due to insufficient evidence [7]. - Following this announcement, Corcept's stock price fell from $70.20 on December 30, 2025, to $34.80 on December 31, 2025, resulting in a loss of nearly $2.5 billion in market capitalization in one day [7].