San Diego, CA -- (SBWIRE) -- 05/20/2021 -- An investor, who purchased NASDAQ: CCXI shares, filed a lawsuit against ChemoCentryx, Inc. over alleged violations of Federal Securities Laws.

Investors who purchased shares of ChemoCentryx, Inc. (NASDAQ: CCXI) have certain options and for certain investors are short and strict deadlines running. Deadline: July 6, 2021. NASDAQ: CCXI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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 vasculitis. In this Briefing Document, the FDA wrote that its review team "has identified several areas of concern, raising uncertainties about the interpretability of the data" submitted as part of ChemoCentryx's application, as well as concerns with "the clinical meaningfulness of these results."

ChemoCentryx, Inc. (NASDAQ: CCXI) declined to as low as $9.55 per share on May 7, 2021.

The plaintiff claims that between November 26, 2019 and May 3, 2021, the defendants made false and/or misleading statements and/or failed to disclose that 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, that the data from the Phase III ADVOCATE trial raised serious safety concerns for avacopan, that these issues presented a substantial concern regarding the viability of ChemoCentryx's NDA for avacopan for the treatment of ANCA-associated vasculitis, and that as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.

Those who purchased shares of ChemoCentryx, Inc. (NASDAQ: CCXI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.