The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired ChemoCentryx, Inc. (“ChemoCentryx” or the “Company”) (NASDAQ: CCXI) securities during the period from November 26, 2019 through May 3, 2021 (the “Class Period”). Investors have until July 6, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On May 4, 2021, the U.S. Food and Drug Administration released a "Briefing Document" concerning ChemoCentryx's drug candidate avacopan, which is in development for the treatment of adult patients with anti-neutrophil cytoplasmic autoantibody (ANCA) vasculitis. To support its New Drug Application for avacopan, ChemoCentryx relied primarily upon its Phase III ADVOCATE study. In the Briefing Document, the FDA wrote that "[c]omplexities of the study design . . . raise questions about the interpretability of the data to define a clinically meaningful benefit of avacopan and its role in the management of" ANCA vasculitis. The FDA further wrote that it had "identified several areas of concern, raising uncertainty about the interpretability of the data and the clinical meaningfulness of these results . . . ." On this news, shares of ChemoCentryx stock fell approximately 45% in one day, after plummeting by over 60% during intraday trading on May 4, 2021.If you acquired ChemoCentryx securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.