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San Francisco, May 15, 2021 (Global News)-Hagens Berman urges ChemoCentryx, Inc. (Nasdaq:Central and Western) Investors with significant losses Submit your loss now. The securities fraud class action is under trial, and some investors may have valuable claims.
class time: November 26, 2019 to May 3, 2021
Deadline for lead plaintiff: July 6, 2021
access: www.hbsslaw.com/investor-fraud/CCXI
Contact a lawyer immediately: CCXI@hbsslaw.com
844-916-0895
ChemoCentryx, Inc. (NASDAQ:Central and Western) Securities Fraud Class Action:
The focus of the lawsuit is ChemoCentryx’s statement regarding its new drug application (“NDA”) for its vasculitis drug candidate, Avacopan.
Starting on November 25, 2019, ChemoCentryx touted the positive top-line data of its Pivotal III ADVOCATE trial, proving that Avacopan is superior to the ANCA-related vasculitis standard of care, and that the trial met two primary endpoints. This news and subsequent positive announcements caused the price of CCXI to soar.
The complaint claims that ChemoCentryx concealed: (1) The research design of the trial was flawed; (2) The data from the trial caused serious safety hazards; (3) These issues aroused great concern about the viability of ChemoCentryx NDA.
On May 4, 2021, when the FDA announced that it had identified several areas of concern, facts emerged, including “uncertainty about the interpretability of the data and the clinical significance of these results.” In addition, the document was problematic due to the complicated trial design and lack of long-term safety data.
This news pushed ChemoCentryx’s share price to fall by more than 45% on May 4, 2021, evaporating the company’s market value by $1.5 billion.
Reed Kathrein, partner at Hagens Berman, said: “We focused on investor losses and proved that ChemoCentryx misled investors about the efficacy and safety of Avacopan.”
If you are an investor in ChemoCentryx and have suffered significant losses, or have the knowledge to assist the company in conducting investigations, Click here to discuss your legal rights with Hagens Berman.
Reporter: Individuals with non-public information about ChemoCentryx should consider their options to help with investigations or use the SEC whistleblower program. According to the new plan, whistleblowers who provide original information may receive a total of up to 30% of the SEC’s successful recovery. For more information, please call Reed Kathrein 844-916-0895 Or email CCXI@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with 8 offices in 8 cities across the country and more than 80 lawyers. The company represents investors, whistleblowers, workers and consumers in complex litigation. For more information about the company and its success, please visit: hbsslaw.com.For the latest news, please visit our Editorial department Or follow us on Twitter at @classactionlaw.
contact:
Reed Kathrein, 844-916-0895
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