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.’sleading 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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