Corcept Therapeutics (NASDAQ: CORT) suffered a devastating blow as its share price plummeted by over 50% after receiving a complete response letter from the FDA, rejecting its hypertension medication targeting Cushing’s syndrome. The FDA cited the need for additional evidence of effectiveness, leaving the company with a significant defeat.

Despite the setback, Corcept remains determined to find a way to commercialize its drug, vowing to meet with FDA officials to discuss potential paths forward. However, success would likely require additional clinical trials, making approval a challenging road. The FDA’s response marks a major setback for the company and its shareholders.

Investors considering Corcept Therapeutics should note that the Motley Fool Stock Advisor team did not include it among their top 10 best stocks. The selected stocks have the potential to generate substantial returns, as exemplified by past recommendations like Netflix and Nvidia, which delivered impressive growth. Stock Advisor boasts a total average return of 979%, surpassing the S&P 500’s performance.

Read more at Yahoo Finance: Why Corcept Therapeutics Plummeted by 50% Today