CCXI Stock: ChemoCentryx Plunges 49% On Disappointment From the FDA

Earlier this week, the ChemoCentryx Inc (NASDAQ:CCXI) stock came under considerable selling pressure after the United States Food and Drug Administration raised concerns with regards to the approval application of the product avacopan.

CCXI Stock: ChemoCentryx Plunges 49% On Disappointment From the FDA

This morning, the slide continued in the ChemoCentryx stock and it has tanked by 49% so far. The concerns with regards to the Phase 3 clinical trial were raised by the FDA in the lead-up to the advisory committee meeting with ChemoCentryx.

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It was back on November 19, that the company had reported that the product in question demonstrated superior performance to the standard care when it came to treating a particular form of vasculitis.

The main problem highlight by the FDA was the fact that the product could not show superiority against the standard care for the condition at the 26 Week mark. It now remains to be seen if the company can bounce back from this considerable setback.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.