Story perspectives
FDA Delays Relacorilant Approval, Corcept Shares Plunge 50%
1/1/2026
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Story summary
- The U.S. Food and Drug Administration issued a complete response letter for relacorilant, delaying approval for hypertension related to hypercortisolism.
- Corcept Therapeutics, Inc.'s shares fell nearly 50%.
- The FDA requested more evidence of effectiveness.
- Corcept plans to meet with the FDA to discuss next steps, including its July 2026 deadline for ovarian cancer filing.
- Analysts downgraded the stock, with Wolfe Research setting a $30 target.