CCXI Stock: From $48.82 To $24.60 (49.61% Decrease) Intraday Explanation

By Amit Chowdhry ● May 4, 2021
  • The stock price of ChemoCentryx Inc (NASDAQ: CCXI) fell from $48.82 to $24.60 (down 49.61%) during intraday trading. This is why it happened.

The stock price of ChemoCentryx Inc (NASDAQ: CCXI) fell from $48.82 to $24.60 (down 49.61%) during intraday trading. Investors are responding negatively to an FDA briefing document with several concerns over the vasculitis candidate avacopan, according to MarketWatch.  ChemoCentryx has been seeking approval for avacopan for the treatment of vasculitis. 

SVB Leerink analyst Joseph Schwartz was quoted by MarketWatch as telling investors that the “FDA briefing documents are surprisingly critical and suggest that CCXI has an uphill battle.”

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.