Eileen Epstein Carney
Eileen works closely with investors in securities cases and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
ChemoCentryx Stock Lawsuit Investigation
Shares drop 45% after FDA raises safety concerns about potential new drug
On Tuesday, May 4, 2021, the FDA released a report raising several concerns about ChemoCentryx Inc.’s (NASDAQ: CCXI) leading drug candidate, avacopan, a potential treatment for ANCA-associated vasculitis.
Following the FDA report, ChemoCentryx stock plummeted 45% in intraday trading on May 4, 2021, causing significant harm to investors. If you invested in CCXI, you may have a claim.
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CCXI Stock drops 45% After FDA Report Details Concerns About Drug Trial
In its May 4, 2021 Briefing Document, 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.” Concerningly, the FDA report indicated that these concerns had previously been communicated to the company.
Following this news, ChemoCentryx’s stock price plummeted 45% on Tuesday, May 4, 2021, closing at $26.6 per share, causing significant harm to investors.
If you invested in CCXI stock, you may have a legal claim. Contact our securities lawyers today for a free and confidential consultation.
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We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).