Premarket Activity For The ChemoCentryx (CCXI) Stock Today: What Is Raising It?

In premarket hours on the last check Friday, ChemoCentryx Inc. (CCXI) was up 13.52% at $13.1. In the last trading session, ChemoCentryx stock finished the session up 3.2% at $11.54. A range of $11.1208 to $11.74 was seen in CCXI stock price on the day.

ChemoCentryx stock traded 3.61 million shares on the day, a volume higher than its daily average of 1.9 million shares over 100 days. The CCXI stock has gained traction following the selection of an abstract from ChemoCentryx by a European body.

Which abstract from CCXI was selected?

The biopharmaceutical company ChemoCentryx is developing new medicines for cancer and inflammatory diseases. By using chemokines and chemoattractants, CCXI targets the discovery, development, and commercialization of oral therapies. Avacopan (CCX168) is the lead drug candidate of CCXI. ChemoCentryx completed a pivotal Phase III trial in ANCA-associated vasculitis and a New Drug Application is under review by the US Food and Drug Administration (FDA).

ChemoCentryx this week has released presentations highlighting findings from its Phase III ADVOCATE and Phase II ACCOLADE and LUMINA-1 trials.

  • CCXI’s presentations were a part of the ERA-EDTA (European Renal Association – European Dialysis and Transplant Association) annual meeting, which was held virtually from June 5 to 8, 2021, in Berlin, Germany.
  • CCXI is also working on avacopan as a treatment for C3 glomerulopathy (C3G) and hidradenitis suppurativa (HS) patients.
  • CCXI’s avacopan has been designated an orphan drug by the FDA for ANCA-associated vasculitis and C3G.
  • The European Commission awarded the company orphan medicinal product designations for avacopan, a medication used in the treatment of microscopic polyangiitis and granulomatosis with polyangiitis caused by ANCA.

CCXI’s potential:

ChemoCentryx (CCXI) discovered and developed avacopan, and it is the company that owns and retains the commercial rights in the United States. Vifor Pharma has exclusive rights to commercialize avacopan in markets outside of the United States under the Kidney Health Alliance between Vifor Pharma and CCXI.

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