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BOSTON, May 12, 2021 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, announces that it has filed a class action lawsuit on behalf of shareholders against ChemoCentryx, Inc. (NASDAQ: CCXI) and certain of its executives for securities fraud. Investors who purchased ChemoCentryx shares between November 26, 2019 and May 3, 2021, and who lost money are strongly encouraged to contact Block & Leviton attorneys at (617) 398-5600, via email at firstname.lastname@example.org, or to visit our website for information on the case. The deadline to seek appointment as lead plaintiff is July 6, 2021.
On May 4, 2021, the U.S. Food and Drug Administration released a “Briefing Document” concerning ChemoCentryx’s drug candidate avacopan, which is in development for the treatment of adult patients with anti-neutrophil cytoplasmic autoantibody (ANCA) vasculitis. To support its New Drug Application for avacopan, ChemoCentryx relied primarily upon its Phase III ADVOCATE study. In the Briefing Document, the FDA wrote that “[c]omplexities of the study design . . . raise questions about the interpretability of the data to define a clinically meaningful benefit of avacopan and its role in the management of” ANCA vasculitis. The FDA further wrote that it had “identified several areas of concern, raising uncertainty about the interpretability of the data and the clinical meaningfulness of these results . . . .” On this news, shares of ChemoCentryx stock fell approximately 45% in one day, after plummeting by over 60% during intraday trading on May 4, 2021.
The lawsuit was filed in the U.S. District Court for the Northern District of California. The case is captioned Homyk v. ChemoCentryx, Inc., et al., No. 3:21-cv-03343 (N.D. Cal.), and has not yet been assigned to a specific judge or courthouse. The class period is between November 26, 2019 and May 3, 2021, inclusive. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
If you purchased or acquired ChemoCentryx shares between November 26, 2019 and May 3, 2021 and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at email@example.com, or visit our website. The deadline to seek appointment as lead plaintiff is July 6, 2021.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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SOURCE: Block & Leviton LLP