Michael has over 20 years of experience representing individual and small business plaintiffs against the world’s large financial institutions, including Visa, Mastercard, and Chase.
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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Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
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Our Featured Securities Team
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.
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
Kyla Gibboney represents plaintiffs in antitrust cases and other complex class actions. Northern California Super Lawyers has named her a Rising Star (2018-2020).
Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
Gibbs Law Group's Financial Fraud Experience
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).
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