Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why ChemoCentryx Stock Crashed Today

TheMotleyFool

0 0

Shares of ChemoCentryx (NASDAQ: CCXI) were crashing 46.5% lower as of 3:06 p.m. EDT on Tuesday. The huge decline came after the U.S. Food and Drug Administration (FDA) released briefing documents for an advisory committee scheduled to meet on Thursday to review the approval application for avacopan.

As you might have guessed from the collapse of the biotech stock today, the FDA's briefing documents didn't look very good for ChemoCentryx. Instead, the documents raised significant doubts about the prospects for avacopan to win approval in treating anti-neutrophilic cytoplasmic autoantibody (ANCA)-vasculitis, an autoimmune disease that causes small blood vessels to swell.

Image source: Getty Images.

Source Fool.com

Like: 0

CCXI

Share