Corcept Therapeutics Tumbles After Losing Patent Case Appeal

(Adds analyst commentary, XERS stock move.)

Corcept Therapeutics shares sink as much as 28% to the lowest intraday level since 2024, after the United States Court of Appeals for the Federal Circuit issued a ruling finding Teva Pharmaceuticals didn’t infringe its patents.

• Jefferies analyst Dennis Ding says “On first glance, a (+) ruling may imply a pot’l headwind for XERS and a tailwind for TEVA, but it’s not that simple. It comes down to having the specialty pharmacy distribution network, which TEVA currently doesn’t have”
  • Expects “no near term impact until there’s more visibility on distribution”
  • Xeris Biopharma stock falls 6.3% ...