Corcept Investors Pressed to Seek Lead Role in Securities Suit After FDA Rebuff of Relacorilant

Overview

• - Plaintiff firms are urging Corcept shareholders to move by April 21, 2026 to be considered for lead-plaintiff status in the pending securities case.
• - The putative class action, Allegheny County Employees’ Retirement System v. Corcept Therapeutics Inc., No. 26-cv-01525, was filed in the Northern District of California and covers stock purchases from October 31, 2024 to December 30, 2025.
• - The complaint alleges Corcept failed to disclose that the FDA had repeatedly warned the company that relacorilant’s clinical evidence was too weak to support approval, even as executives promoted the drug’s readiness.
• - Corcept said on December 31, 2025 that it received a Complete Response Letter for relacorilant, and the stock fell about 50% that day, erasing roughly $2.5 billion in market value.
• - A Complete Response Letter means the FDA will not approve the application as filed due to deficiencies, and in this case the agency said it lacked enough evidence of effectiveness for a favorable benefit‑risk assessment.