Thieler Law Corp advises investors with losses exceeding $100,000 of the July 6, 2021 lead plaintiff deadline in a class action lawsuit filed against ChemoCentryx, Inc. (NASDAQ: CCXI) (ChemoCentryx, Inc. or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased ChemoCentryx, Inc. (NASDAQ: CCXI) securities between November 26, 2019 and May 3, 2021, have until July 6, 2021 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased ChemoCentryx, Inc. securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

ChemoCentryx is a biopharmaceutical company focused on the development and commercialization of new medications targeting inflammatory disorders, autoimmune diseases, and cancer. The Company commenced operations in 1997. ChemoCentryx’s lead drug candidate is avacopan, which the Company describes as “a potential first-in-class, orally-administered molecule that employs a novel for the treatment of patients with ANCA vasculitis. ChemoCentryx common stock trades on the NASDAQ stock exchange under the ticker symbol “CCXI.” The Company is headquartered in San Carlos, CA.

After the market closed on November 25, 2019, ChemoCentryx announced “Positive Topline Data from Pivotal Phase III ADVOCATE Trial Demonstrating Avacopan’s Superiority Over Standard of Care in ANCA-Associated Vasculitis.” In this announcement, ChemoCentryx stated that the ADVOCATE Phase III Trial “met both of its primary endpoints,” and that “[t]he topline safety results revealed an acceptable safety profile in this serious and lifethreatening disease.”.

On May 4, 2021, the United States Food and Drug Administration (the “FDA”) published a Briefing Document concerning ChemoCentryx’s NDA #214487 for avacopan. In this Briefing Document, the FDA wrote that “[c]omplexities of the study design, as detailed in the briefing document, raise questions about the interpretability of the data to define a clinically meaningful benefit of avacopan and its role in the management of AAV.” (Emphasis added). The FDA Briefing Document continued that “[a]lthough primary efficacy comparisons were statistically significant, the review team has identified several areas of concern, raising uncertainties about the interpretability of these data and the clinical meaningfulness of these results . . . .” (Emphasis added). In the Briefing Document, the FDA also raised serious safety concerns with avacopan for the treatment of ANCA-associated vasculitis.

On this news, the price of ChemoCentryx common stock plummeted over 45% in one day, down from its May 3, 2021 closing price of $48.82 to a May 4, 2021 close of $26.63 per share, on unusually high trading volume. Shares traded intraday as low as $17.79 each. This represents a one-day loss of approximately $1.5 billion in market capitalization.

According to the lawsuits, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the study design of the Phase III ADVOCATE trial presented issues about the interpretability of the trial data to define a clinically meaningful benefit of avacopan and its role in the management of ANCA-associated vasculitis; (2) the data from the Phase III ADVOCATE trial raised serious safety concerns for avacopan; (3) these issues presented a substantial concern regarding the viability of ChemoCentryx’s New Drug Application (“NDA”) for avacopan for the treatment of ANCA-associated vasculitis; and (4) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you were negatively impacted by your investment in ChemoCentryx, Inc. (NASDAQ: CCXI)  securities between November 26, 2019 and May 3, 2021 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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