BUZZ-Corcept drops after US FDA declines to approve drug for rare hormonal disorder** Shares of drugmaker Corcept Therapeutics CORT.O fall 38.7% to $48.39 premarket
** CORT says U.S. FDA has declined to approve its hormone-blocking oral therapy, relacorilant, for the treatment of a rare hormonal disorder
** FDA says "it could not arrive at a favorable benefit-risk assessment for relacorilant without Corcept providing additional evidence of effectiveness" - CORT
** Co was testing relacorilant to treat Cushing's syndrome, also known as hypercortisolism, which occurs when the body is exposed to high cortisol activity
** As of last close, stock up 39.3% YTD
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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