Labaton Keller Sucharow LLP is Co-Lead Counsel in a securities class action against Corcept Therapeutics Incorporated (Corcept or the Company) and certain of its executives (collectively, Defendants).

Corcept is a pharmaceutical company focused on the development of medications to treat severe endocrinologic, oncologic, metabolic, and neurologic disorders by modulating the effects of the hormone cortisol.  One of its lead product candidates is relacorilant, which is being developed for multiple indications, including as a treatment for patients with hypercortisolism (also known as “Cushing’s syndrome”).  The case alleges that, throughout the Class Period from October 31, 2024 through December 30, 2025, Defendants made materially false and misleading statements regarding the clinical trials supporting the use of relacorilant as a treatment for patients with hypercortisolism.  Among other things, Defendants represented that the clinical trials were “powerful support” for the New Drug Application (NDA) submitted to the U.S. Food and Drug Administration (FDA) and repeatedly told investors that “relacorilant is approaching approval.”  In truth, the FDA had repeatedly raised concerns about the adequacy of the clinical evidence supporting the NDA, and there was a known material risk that Corcept’s relacorilant NDA would not be approved.

Investors learned the truth through a series of disclosures.  On December 31, 2025, Corcept revealed that the FDA had issued a Complete Response Letter (CRL) regarding the NDA for relacorilant, stating that the FDA had “concluded it could not arrive at a favorable benefit-risk assessment for relacorilant without Corcept providing additional evidence of effectiveness.”  On this news, the price of Corcept common stock declined $35.40 per share, or approximately 50%. On January 30, 2026, the FDA published a redacted copy of the CRL detailing its concerns with the relacorilant NDA, including that the clinical studies submitted were not sufficient evidence of efficacy for the proposed indication.  The CRL also noted that, during pre-submission meetings, the FDA informed Corcept “on several occasions” of its “concerns about the adequacy of the clinical development program” and had warned the Company “to expect significant review issues” if it submitted the application.

The case is In re Corcept Therapeutics Incorporated Securities Litigation, No. 3:26-cv-1525-TLT (N.D. Cal.).  On July 28, 2026, the Honorable Trina L. Thompson appointed Allegheny County Employees’ Retirement System, Local #817 IBT Pension Fund, and City of Tallahassee Pension Plan as Lead Plaintiff.  The Court approved the selection of Labaton Keller Sucharow LLP and Bernstein Litowitz Berger & Grossmann LLP as Co-Lead Counsel for the Class.  Lead Plaintiff will file an amended complaint no later than August 28, 2026, and a further case management conference is scheduled for December 17, 2026.