Why Corcept Therapeutics Tanked by Almost 17% Today

Corcept Therapeutics (NASDAQ: CORT) didn't have a happy hump day. On Wednesday, the company's stock cratered by nearly 17% due to some disquieting legal news.

In a regulatory filing, Corcept disclosed that it received a subpoena from the U.S. Attorney's Office (USAO) for the District of New Jersey on Nov. 15. That subpoena concerned the biotech company's only commercialized drug, Cushing's syndrome treatment Korlym.

Image source: Getty Images.

Continue reading

Source Fool.com