ChemoCentryx Announces Results of FDA Advisory Committee Meeting on Avacopan in ANCA-Associated Vasculitis
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ChemoCentryx (CCXI) Crashes 55% on Mixed AdComm Results, Gets Downgraded at Five Firms
May 7, 2021 9:36 AM EDTShares of ChemoCentryx (NASDAQ: CCXI) crashed 55% in pre-open Friday after the Food and Drug Administration (FDA) raised concerns over the approval application of the product avacopan.
We are grateful to the Committee for their careful deliberations and look forward to working with the FDA as its review of our application continues, said Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. Discussion from patients and clinicians during the public forum portion of the meeting underscored the need for new treatment options.
The FDA is primarily concerned that the therapy could not... More
Raymond James Downgrades ChemoCentryx (CCXI) to Outperform
May 7, 2021 7:38 AM EDTRaymond James analyst Steven Seedhouse downgraded ChemoCentryx (NASDAQ: CCXI) from Strong Buy to Outperform with a price target of $51.00 (from $120.00).
The analyst commented, "To be clear, our downgrade to Outperform from Strong Buy is based on reduced conviction in avacopan being approved by July 7 PDUFA given Thursdays AdCom discussion and vote. However, if approved we still think avacopan is a... More
ChemoCentryx (CCXI) sinks 45% as trading resumes following mixed FDA AdCom
May 7, 2021 7:15 AM EDTChemoCentryx (NASDAQ: CCXI) sinks 45% as trading resumes following mixed FDA AdCom.
... More