Corcept Therapeutics Incorporated Common Stock (NASDAQ: CORT)
39 Days left to seek lead plaintiff status.
This Action arises in connection with one of Corcept's lead new product candidates, relacorilant, which is being developed for multiple indications, including as a treatment for patients with hypercortisolism (also known as "Cushing's syndrome"). The Complaint alleges that during the Class Period, 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. 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. Toward the latter part of the Class Period, Defendants repeatedly told investors that "relacorilant is approaching approval." In truth, the FDA had raised concerns about the adequacy of the clinical evidence supporting the NDA and, as a result there was a known material risk that Corcept's relacorilant NDA would not be approved.