A class action lawsuit has been filed against Corcept Therapeutics Incorporated, alleging the company made materially misleading statements regarding the clinical evidence supporting its relacorilant drug candidate for Cushing's syndrome treatment. According to the complaint, Corcept characterized the drug as "approaching approval" despite awareness of significant FDA concerns about the adequacy of supporting clinical data.
On December 31, 2025, the FDA issued a Complete Response Letter rejecting Corcept's regulatory application for relacorilant, signaling the agency's determination that the submitted clinical evidence was insufficient to support approval. The FDA action triggered a sharp market reaction, with Corcept's stock price declining 50.4% in a single trading session, falling from $70.20 to $34.80 per share.
The lawsuit, brought by the law firm Bragar Eagel & Squire, P.C., seeks to hold the company accountable for statements that investors contend created a material gap between public communications and the underlying regulatory status of the drug candidate. Investors in Corcept securities are being encouraged to contact counsel regarding potential participation in the class action.