Corcept Therapeutics (CORT) on Wednesday said the U.S. Food and Drug Administration has issued a Complete Response Letter for the New Drug Application of relacorilant to treat hypertension secondary to hypercortisolism.
While the FDA acknowledged that Corcept's pivotal GRACE trial met its primary endpoint and that data from the GRADIENT study provided supportive evidence, the agency said additional proof of effectiveness is needed to support a favorable benefit-risk assessment.
CORT is currently trading at $33.81, down $36.38 or 51.83 percent on the Nasdaq.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.