{"id":382926,"date":"2026-01-02T05:41:16","date_gmt":"2026-01-02T05:41:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/382926\/"},"modified":"2026-01-02T05:41:16","modified_gmt":"2026-01-02T05:41:16","slug":"why-corcept-therapeutics-plummeted-by-50-today","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/382926\/","title":{"rendered":"Why Corcept Therapeutics Plummeted by 50% Today"},"content":{"rendered":"

No biotech<\/a> wants to exit a year with a regulatory rejection. Unfortunately for Corcept Therapeutics(NASDAQ: CORT) and its shareholders, that’s exactly what happened to the California-based company. As a result, the company’s share price eroded by just over 50% in Tuesday’s trading.<\/p>\n

Not the response it wanted<\/p>\n

That morning, Corcept announced it had received a complete response letter<\/a> from the U.S. Food and Drug Administration (FDA) in which the regulator declined to approve its relacorilant. This is a hormone-blocking oral medication targeting hypertension (i.e., high blood pressure) secondary to hypercortisolism.<\/p>\n

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\"Person<\/p>\n

Image source: Getty Images.<\/p>\n

This disorder, also known as Cushing’s syndrome, is a rare hormonal affliction in which the body suffers prolonged exposure to cortisol, a stress hormone.<\/p>\n

Corcept stated that, although the FDA acknowledged the drug met its primary endpoint in a late-stage clinical trial, the regulator “could not arrive at a favorable benefit-risk assessment for relacorilant without Corcept providing additional evidence of effectiveness.”<\/p>\n

Determined to march on<\/p>\n

Corcept is not giving up on its once-promising medication. It pledged to continue trying to find a way to commercialize it, saying that it aims to meet with FDA officials in the near future to discuss potential ways forward for the drug.<\/p>\n

However, any chance of success now would likely require additional clinical trials, so even in the best-case scenario, the drug would not have an easy route to approval. The FDA’s response, therefore, has to be considered a significant defeat for Corcept.<\/p>\n

Should you buy stock in Corcept Therapeutics right now?<\/p>\n

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Eric Volkman<\/a> has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Corcept Therapeutics. The Motley Fool has a disclosure policy<\/a>.<\/p>\n

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