Corcept Therapeutics stock tanks on FDA relacorilant setback — what happens next for CORT
Corcept Therapeutics shares plunged 50.4% to $34.80 on Dec. 31 after the FDA declined to approve relacorilant for hypercortisolism-related hypertension, citing insufficient evidence of effectiveness. Wolfe Research downgraded the stock to Underperform with a $30 target. Trading was briefly halted before resuming with heavy volume. The FDA set a separate July 2026 decision date for relacorilant in ovarian cancer.