LOS ANGELES–(BUSINESS WIRE)–$CCXI #CLASSACTION—Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of ChemoCentryx, Inc. (“ChemoCentryx” or the “Company”) (NASDAQ: CCXI) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your ChemoCentryx investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/chemocentryx-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
ChemoCentryx is a biopharmaceutical company. Its lead drug candidate is avacopan, which is developed as a potential treatment for ANCA-associated vasculitis (“AAV”).
On July 9, 2020, ChemoCentryx announced that it had filed its New Drug Application (“NDA”) for avacopan to the U.S. Food and Drug Administration (“FDA”) for the treatment of AAV.
On May 4, 2021, the FDA released a “Briefing Document” concerning the Company’s NDA for avacopan, stating that “[c]omplexities of the study design, as detailed in the briefing document, raise questions about the interpretability of the data to define a clinically meaningful benefit of avacopan and its role in the management of AAV.” The FDA also noted that “several areas of concern [that] rais[ed] uncertainties about the interpretability of these data and the clinical meaningfulness of these results.” The FDA also raised serious safety concerns with avacopan for the treatment of AAV.
On this news, the Company’s stock price fell $22.19 per share, or 45.45%, to close at $26.63 per share on May 4, 2021, thereby injuring investors.
Whistleblower Notice: Persons with non-public information regarding ChemoCentryx should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].
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