OAKLAND, Calif.--(BUSINESS WIRE)--ChemoCentryx, Inc. shares plummeted 45% on Tuesday May 4, 2021 after an FDA Briefing Document raised several serious concerns about ChemoCentryx’s leading drug candidate, avacopan. Gibbs Law Group is investigating a potential ChemoCentryx Class Action Lawsuit on behalf of investors who lost money in ChemoCentryx, Inc. (NASDAQ: CCXI).
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On Tuesday, May 4, 2021, the FDA released a Briefing Document ahead of an Arthritis Advisory Committee meeting expressing concerns about ChemoCentryx’s new drug candidate, avacopan. Specifically, the FDA raised several serious concerns about the “complex” trial design, safety, and results of a late-stage drug study for avacopan, which is ChemoCentryx’s leading drug candidate for the treatment of anti-neutrophilic cytoplasmic autoantibody vasculitis.
Specifically, the FDA cited concerns about the “interpretability of the data to define a clinically meaningful benefit of avacopan.” The FDA report also noted that these concerns had previously been communicated to the company.
Following this news, ChemoCentryx’s stock price plunged 45% in intraday trading on May 4, 2021, causing significant harm to investors.
What Should ChemoCentryx Investors Do?
If you invested in ChemoCentryx, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether ChemoCentryx, Inc. has violated federal securities laws by providing false or misleading statements to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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