Why ChemoCentryx's Stock Is Plunging Today

ChemoCentryx, Inc. CCXI shares are trading lower after FDA briefing documents for avacopan identified areas of concern, which raised "uncertainties about the interpretability" of data and the "clinical meaningfulness" of results.

FDA briefing doc for ChemoCentryx's Avacopan shows candidate "is an efficacious treatment for patients with this rare disease and fulfills unmet medical needs for this patient population."

ChemoCentryx Inc is a biopharmaceutical company involved in the discovery, development, and commercialization of orally administered drugs to treat rare diseases, inflammatory disorders, autoimmune diseases, and cancer.

The stock was trading approximately 52.5% lower at $23.18 per share. The stock has a 52-week high of $70.29 and a 52-week low of $22.90.

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