<br /> CCXI ALERT: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against ChemoCentryx, Inc.<br />

CCXI ALERT: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against ChemoCentryx, Inc.

PR Newswire

RADNOR, Pa.,

May 24, 2021

/PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP alerts investors that a securities fraud class action lawsuit has been filed against ChemoCentryx, Inc. (NASDAQ: CCXI) (“ChemoCentryx”) on behalf of those who purchased or acquired ChemoCentryx common stock

between

November 26, 2019

and

May 3, 2021

, inclusive (the “Class Period”).

Investor Reminder: Investors who purchased or acquired ChemoCentryx common stock

during the Class Period may,

no later than

July 6, 2021

, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or

Adrienne Bell, Esq.

(484) 270-1435; toll free at (844) 887-9500; via e-mail at

[email protected]

;

or

click

https://www.ktmc.com/chemocentryx-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=chemocentryx

ChemoCentryx is a biopharmaceutical company focused on the development and commercialization of new medications targeting inflammatory disorders, autoimmune diseases, and cancer. ChemoCentryx’s lead drug candidate is avacopan, which ChemoCentryx describes as a “potential first-in-class, orally-administered molecule that employs a novel, highly targeted mode of action in the treatment of ANCA vasculitis and other complement-driven autoimmune and inflammatory diseases.”

After the market closed on

November 25, 2019

, ChemoCentryx issued a press release announcing “Positive Topline Data from Pivotal Phase III ADVOCATE Trial Demonstrating Avacopan’s Superiority Over Standard of Care in ANCA-Associated Vasculitis.” Throughout the Class Period, the defendants lauded the results of the ADVOCATE Phase III trial, as well as the safety profile of avacopan for the treatment of ANCA-associated vasculitis (“AAV”).

However, the truth was revealed on

May 3, 2021

when, the United States Food and Drug Administration (“FDA”) published a Briefing Document concerning ChemoCentryx’s New Drug Application (“NDA”) #214487 for avacopan. The FDA also raised serious safety concerns with avacopan for the treatment of ANCA-associated vasculitis. Following this news, the price of ChemoCentryx’s common stock fell over 45% in one day, down from its

May 3, 2021

closing price of

$48.82

per share to a

May 4, 2021

close of

$26.63

per share.

The complaint alleges that throughout the Class Period, the defendants misrepresented and/or failed to disclose to investors that: (1) 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 AAV; (2) the data from the Phase III ADVOCATE trial raised serious safety concerns for avacopan; (3) these issues presented a substantial concern regarding the viability of ChemoCentryx’s NDA for avacopan for the treatment of ANCA-associated vasculitis; and (4) as a result of the foregoing, the defendants’ public statements were materially false and misleading at all relevant times.

ChemoCentryx investors may,

no later than

July 6, 2021

, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from

the United States

and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit

www.ktmc.com

.

CONTACT:

Kessler Topaz Meltzer & Check, LLP

James Maro, Jr., Esq.

Adrienne Bell, Esq.

280 King of Prussia Road

Radnor, PA

19087

(844) 887-9500 (toll free)

[email protected]