Hagens Berman Investigating Corcept Therapeutics (CORT) After FDA Warning on Relacorilant Drug Application

Shares Fall as Law Firm Probes Potential Investor Deception About Drug's Efficacy and Commercial Prospects

Jan. 30, 2026 at 7:55pm by Ben Kaplan

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Hagens Berman, a national shareholder rights law firm, is investigating whether Corcept Therapeutics Inc. misled investors about the efficacy and commercial potential of its proposed treatment for hypercortisolism, relacorilant. The investigation comes after a report that the FDA had warned Corcept on several occasions not to submit its application for relacorilant, contradicting the company's prior assurances about its communications with regulators.

Why it matters

This case highlights the importance of transparency and accurate disclosure from pharmaceutical companies, especially regarding the development and regulatory approval process for new drugs. Investors rely on this information to make informed decisions, and any potential deception could have significant financial consequences.

The details

According to the report, Corcept promoted relacorilant's efficacy and commercial potential, assuring investors that its new drug application was 'progressing toward approval by the end of' 2025. However, on Dec. 31, 2025, the company revealed that it had received a complete response letter (CRL) from the FDA stating the agency could not reach a favorable benefit-risk assessment for relacorilant without additional evidence of effectiveness. Then, on Jan. 30, 2026, Reuters reported that the FDA had issued a corrected CRL dated Jan. 28, 2026, which disclosed that the agency had warned Corcept 'on several occasions' not to submit its relacorilant application—apparently contradicting the company's prior public statements.

  • On Dec. 31, 2025, Corcept revealed that it had received a complete response letter (CRL) from the FDA.
  • On Jan. 30, 2026, Reuters reported that the FDA had issued a corrected CRL dated Jan. 28, 2026.

The players

Corcept Therapeutics Inc.

A pharmaceutical company that develops and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders.

Joseph K. Belanoff, MD

The CEO of Corcept Therapeutics.

Hagens Berman

A national shareholder rights law firm that is investigating Corcept Therapeutics.

Reed Kathrein

A partner at Hagens Berman leading the investigation.

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What they’re saying

“We've expanded our investigation to include whether Corcept misled investors about its FDA communications, in addition to relacorilant's efficacy and safety. We are also examining whether the company overstated its hypercortisolism business.”

— Reed Kathrein, Partner, Hagens Berman (Business Wire)

“We are surprised and disappointed by this outcome.”

— Joseph K. Belanoff, MD, CEO, Corcept Therapeutics (Business Wire)

What’s next

Hagens Berman is urging investors who suffered significant losses to contact the firm to learn more about their legal rights.

The takeaway

This investigation highlights the importance of pharmaceutical companies being transparent and accurate in their communications with investors, especially regarding the regulatory approval process for new drugs. Investors rely on this information to make informed decisions, and any potential deception could have significant financial consequences.