Corcept Therapeutics Inc. slumped 48% to record its worst intraday performance in the last 11 years. The Redwood City, California-based company stated that the US Food and Drug Administration was unable to make a “favorable benefit-risk assessment” of the company's drug relacorilant without further evidence of efficacy.

Corcept Therapeutics Inc. slumped 48% to record its worst intraday performance in the last 11 years. The Redwood City, California-based company stated that the US Food and Drug Administration was unable to make a “favorable benefit-risk assessment” of the company's drug relacorilant without further evidence of efficacy.