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Why ChemoCentryx Stock Tanked in 2021

TheMotleyFool

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Shares of ChemoCentryx (NASDAQ: CCXI), a mid-cap biopharmaceutical company, fell by a noteworthy 41.2% over the course of 2021, according to data provided by S&P Global Market Intelligence. The drugmaker's shares tanked last year as a result of the protracted regulatory process for its anti-neutrophil cytoplasmic autoantibody (ANCA)-vasculitis medication known as Tavneos (avacopan).

ANCA-vasculitis is an autoimmune disorder characterized by swelling and damage to small blood vessels. The condition reportedly affects approximately 1 out of 50,000 people, with ANCA-vasculitis being most common among middle-aged white men and women.

Image source: Getty Images.

Source Fool.com

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