Corcept Sinks After FDA Rejects Drug to Treat Hypertension

Corcept Therapeutics Inc. shares fell after US regulators rejected the company’s drug to treat a form of high blood pressure.

The Food and Drug Administration “could not arrive at a favorable benefit-risk assessment” for the company’s drug, relacorilant, without more evidence of its effectiveness, the Redwood City, California-based company said in a statement Wednesday.