Investigation announced for Investors in shares of ChemoCentryx, Inc. (NASDAQ: CCXI)

An investigation was announced concerning potential securities laws violations by ChemoCentryx, Inc. in connection with certain financial statements.

Investors who purchased shares of ChemoCentryx, Inc. (NASDAQ: CCXI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of ChemoCentryx, Inc. (NASDAQ: CCXI) concerning whether a series of statements by ChemoCentryx, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Carlos, CA based ChemoCentryx, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. ChemoCentryx, Inc. $35.95 million in 2019 to $64.39 million in 2020, and that its Net Loss declined from $55.48 million in 2019 to $55.35 million in 2020.

On November 25, 2019, ChemoCentryx, Inc. announced "Positive Topline Data from Pivotal Phase III ADVOCATE Trial Demonstrating Avacopan's Superiority Over Standard of Care in ANCA-Associated Vasculitis." The announcement stated that the ADVOCATE Phase III Trial "met both of its primary endpoints," and that "[t]he topline safety results revealed an acceptable safety profile in this serious and life-threatening disease." Further, the Company's President, CEO, and Chairman of the Board of Directors, stated that these results exceeded the Company's expectations and "demonstrated that a highly targeted therapy aimed at the very center of the ANCA disease process is superior to the tradition approach…"

In July 2020, ChemoCentryx announced that it had filed its New Drug Application ("NDA") for avacopan and in September 2020, it announced that the U.S. Food and Drug Administration ("FDA") had accepted the NDA for review.
Then, on May 4, 2021, the FDA published a Briefing Document concerning avacopan's NDA, which noted "questions about the interpretability of the data to define a clinically meaningful benefit of avacopan and its role in the management of AAV." The Briefing Document further stated, "the review team has identified several areas of concern, raising uncertainties about the interpretability of these data and the clinical meaningfulness of these results…"
Shares of ChemoCentryx, Inc. (NASDAQ: CCXI) declined from $70.21 per share on March 2, 2021, to as low as $9.53 per share on May 25, 2021.

Those who purchased shares of ChemoCentryx, Inc. (NASDAQ: CCXI) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.