Corcept Therapeutics Incorporated (CORT) Investigation

In the past, Corcept has touted relacorilant’s efficacy and commercial prospects. For example, the company has assured investors that patients in its clinical trials “exhibited clinically meaningful improvements in a wide range of hypercortisolism signs and symptoms[.]”

Corcept has also repeatedly assured investors that “[o]ur new drug application for relacorilant is progressing toward approval by the end of” 2025 and “[r]elacorilant’s strong efficacy and safety profile gives us the potential to become the new standard of care for patients with hypercortisolism.”

Critically, Corcept’s management also expressed confidence that “we’re [more] confident than ever that we’re on track to grow our hypercortisolism business from $3 billion to $5 billion in annual revenues in three to five years.”

Investors’ expectations were dashed on December 31, 2025. That day, Corcept revealed that, in contrast to relacorilant’s progress toward FDA approval by the end of 2025, the company received a CRL which it said indicated the FDA “concluded it could not arrive at a favorable benefit-risk assessment for relacorilant without Corcept providing additional evidence of effectiveness.”  HCPLive reported “[u]ltimately, investigators found that loss of blood pressure control was 83% less likely to occur in the relacorilant arm compared to placebo[.]”

The news sent the price of Corcept shares over $35 lower (-50%) that day, wiping out over $3.6 billion of the company’s market capitalization in a single day.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the CORT investigation about?

We are focused on whether Corcept may have overstated relacorilant’s efficacy and, if so, whether it may have also overstated its hypercortisolism business commercial and growth prospects.

WHAT SHOULD I DO?

I worked at CORT. What should I do?

If you were an employee of CORT, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in CORT, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any CORT investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.