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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