SAN FRANCISCO, May 7, 2021 / PRNewswire / – Hagens Berman urges ChemoCentryx, Inc. (NASDAQ: CCXI) investors with significant losses to file their losses now. A class action lawsuit for securities fraud is pending and certain investors may have valuable claims.
School lesson: November 26, 2019 – – May 3, 2021
Deadline of the main plaintiff: July 6, 2021
Contact an attorney now: [email protected]
ChemoCentryx, Inc. (NASDAQ: CCXI) class action lawsuit against securities fraud:
The lawsuit focuses on ChemoCentryx’s statements regarding its new drug application (“NDA”) for its vasculitis drug candidate Avacopan.
Starting with November 25, 2019ChemoCentryx indicated positive topline data from its pivotal Phase III ADVOCATE trial demonstrating the superiority of avacopan over the standard of care for ANCA-associated vasculitis and showing that the trial met both primary endpoints. This and subsequent positive announcements drove the price of CCXI up.
The complaint alleges that ChemoCentryx withheld: (1) The study design of the study was flawed. (2) Data from the study raise serious safety concerns; and (3) these issues raised serious concerns about the viability of the ChemoCentryx NDA.
On May 4, 2021The truth emerged when the FDA announced that it had identified several problem areas, including “uncertainties about the interpretability of the data and the clinical power of these results.” In addition, the document challenged the complex study design and lack of long-term safety data.
This news caused the price of ChemoCentryx shares to drop over 45% May 4, 2021and deleted as much as $ 1.5 billion the company’s market capitalization.
“We’re focusing on investor losses and proving that ChemoCentryx has misled investors about Avacopan’s efficacy and safety,” he said Reed Kathrein, the Hagens Berman partner who led the investigation.
If you are a ChemoCentryx investor and are experiencing significant losses or have knowledge that may aid the company’s investigation, click here to discuss your statutory rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about ChemoCentryx should review their options to help with the investigation or to use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Call for more information Reed Kathrein at 844-916-0895 or by email [email protected].
About Hagens Berman
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SOURCE Hagens Berman Sobol Shapiro LLP