Corcept Therapeutics stock tanks 50% after FDA relacorilant setback — what’s next for CORT
Corcept Therapeutics shares fell 50.4% to $34.80 after the FDA declined to approve relacorilant for Cushing’s-related hypertension, citing a need for more evidence of effectiveness. The company plans to meet with the agency to discuss next steps. Wolfe Research downgraded the stock and removed projected sales for the indication. Trading volume reached about 20.16 million shares.