BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of ChemoCentryx, Inc. (“ChemoCentryx” or the “Company”) (NASDAQ: CCXI) investors concerning the Company’s possible violations of federal securities laws.
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.
If you purchased ChemoCentryx securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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