Kessler Topaz Meltzer & Check, LLP: A securities fraud class action lawsuit has been filed against ChemoCentryx, Inc.

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Radnor, Pennsylvania, May 30, 2021 / PRNewswire / –Kessler Topaz Meltzer & Check, Law Firm LLP has announced that a securities fraud class action lawsuit has been filed against ChemoCentryx, Inc. (NASDAQ: CCXI) (“ChemoCentryx”). ChemoCentryx Joint Action Between November 26, 2019 And May 3, 2021, Full (“course period”).

ChemoCentryx is a biopharmacy company specializing in the development and commercialization of new drugs against inflammation, auto-immune systems and cancer. ChemoCentryx’s primary drug candidate is avacopan, and ChemoCentryx adopts a novel, highly targeted mechanism of action in the treatment of ANCA vasculitis and other complement-induced autoimmune and inflammatory diseases. , May be the first orally administered molecule in its class. “”

Start date of the course period November 26, 2019After the market closes November 25, 2019, ChemoCentryx issued a press release announcing “Positive foreground data from the Pivotal Phase III ADVOCATE trial showing the superiority of Avacopan over standard therapy in ANCA-associated vasculitis.” The defendants praised the results of the ADVOCATE Phase III trial and the safety profile of avacopan for the treatment of ANCA-associated vasculitis (“AVA”) during class.

But the truth has been revealed May 3, 2021 When the United States Food and Drug Administration (“FDA”) released a backgrounder on ChemoCentryx’s (“NDA”) New Drug Application # 214487 for abacopan, the FDA wrote in that document d ‘information:[c]As detailed in the background literature, the complexity of the study design raises questions about the clinically significant benefits of avacopan and the interpretability of the data that define its role in the management of AAV.[a]Although the key efficacy comparisons were statistically significant, the review team identified some areas of concern, creating uncertainty about the interpretability of these data and the clinical significance of these results. I am. After this news, the price of ChemoCentryx common stock fell more than 45% in a single day. May 3, 2021 The last price $ 48.82 Per share May 4, 2021 Closed $ 26.63 Per share.

The complaint alleges that during the class action, the defendant did not falsely explain and / or disclose to investors: Avacopan and its role in the management of vasculitis related to ANCA. (2) Data from the phase III ADVOCATE trial raised serious concerns about the safety of avacopan. (3) These questions have raised great concerns about the feasibility of ChemoCentryx’s NDA for avacopan for the treatment of ANCA-related vasculitis. (4) As a result of the foregoing, the Respondent’s public statement was practically false and misleading at all material times.

Chemocentrics Investors Later July 6, 2021Through Kessler Topaz Meltzer & Check, LLP, or other attorneys, you can apply to be appointed as the lead representative for class complainants, or you can choose to do nothing and remain absent class members. The lead applicant is the representative who acts on behalf of all class members in the conduct of the proceedings. In order to be named as the principal plaintiff, the court must determine that the claims of the class members are typical of the claims of the other class members and that the class members correctly represent the class. It does not become. Your ability to share the recovery is not affected by the decision to become the primary claimant.

Kessler Topaz Meltzer & Check, LLP has filed class actions in state and federal courts across the country, including securities fraud, breach of fiduciary duty, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP is the driving force behind corporate governance reform, raising billions of dollars on behalf of institutional and individual investors. United States And all over the world. The company represents investors, consumers and whistleblowers (ordinary citizens who report fraud against the government and participate in the recovery of the government dollar). The proceedings in this proceeding were not filed by Kessler Topaz Meltzer & Check, LLP. Learn more about Kessler Topaz Meltzer & Check, LLP. www.ktmc.com ..

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Source: Kessler Topaz Meltzer & Check, LLP

Kessler Topaz Meltzer & Check, LLP: A securities fraud class action lawsuit has been filed against ChemoCentryx, Inc.

Source Link Kessler Topaz Meltzer & Check, LLP: A Securities Fraud Class Action Has Been Filed Against ChemoCentryx, Inc.



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