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Adam Feuerstein is a senior writer and biotech columnist, reporting on the crossroads of drug development, business, Wall Street, and biotechnology. He is also a co-host of the weekly biotech podcast The Readout Loud and author of the newsletter Adam’s Biotech Scorecard. You can reach Adam on Signal at stataf.54.

This is the online version of Adam’s Biotech Scorecard, a subscriber-only newsletter. STAT+ subscribers can sign up here to get it delivered to their inbox.

The Corcept Therapeutics drug is relacorilant. A liver-safety risk puts its future — for rare disease and cancer — in doubt.

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On the last day of 2025, the FDA rejected relacorilant, denying Corcept’s application that sought approval to treat Cushing’s disease, a rare hormonal disorder. In a statement, Corcept CEO Joe Belanoff said he was “surprised and disappointed” by the FDA denial. Then last week, the agency published on its website the complete response letter detailing the FDA’s reasons for rejecting the drug.

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