NEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northen District of California on behalf of all persons or entities who purchased or otherwise acquired Corcept Therapeutics Incorporated (“Corcept” or the “Company”) (NASDAQ: CORT) securities between October 31, 2024, and December 30, 2025, inclusive (the “Class Period”).
The Complaint alleges that Defendants represented that the key clinical trials supporting the use of relacorilant as treatment for patients with hypercortisolism were “powerful support” for the New Drug Application (“NDA”) that Corcept submitted to the U.S. Food and Drug Administration (“FDA”) for this indication. The Complaint continues to allege that Defendants also stated that they had communicated with the FDA about this NDA and were confident in submitting the NDA, foreseeing no impediments to approval. The Complaint states that toward the latter part of the Class Period, Defendants repeatedly told investors that “relacorilant is approaching approval.” The Complaint states that as a result of these representations, the price of Corcept common stock traded at artificially inflated prices throughout the Class Period.
According to the Complaint, the truth emerged on December 31, 2025, when Corcept revealed that the FDA had issued a Complete Response Letter (“CRL”) regarding the NDA for relacorilant as a treatment for patients with hypercortisolism. The Complaint alleges that the press release issued by the Company stated that the FDA had “concluded it could not arrive at a favorable benefit-risk assessment for relacorilant without Corcept providing additional evidence of effectiveness.” The Complaint further states that the press release quoted Defendant Belanoff as stating that “[w]e are surprised and disappointed by this outcome.” As a result of this disclosure, the price of Corcept common stock declined by $35.40 per share, or 50.4%
Investors who purchased or otherwise acquired shares of Corcept should contact the Firm prior to the April 24, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
