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Tag: ChemoCentryx

  • ChemoCentryx, Inc. (CCXI) stock plunged in the current market; here is why?

    ChemoCentryx, Inc. (CCXI) stock plunged in the current market; here is why?

    ChemoCentryx, Inc. (CCXI) declined in the current market after announcing its fourth quarter and fiscal 2021 results. CCXI values at $23.39, losing more than 20.60% compared to yesterday’s closing price. The stock closed at $29.46 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.25 million shares. The current market cap of the company is about $1.59 billion.

    CCXI: Q4 and Fiscal 2021 Key Financials

    • ChemoCentryx, Inc.’s revenue in Q4 2021 was $2.3 million lower than compared to the revenue of $4.3 million in Q4 2020.
    • Fiscal 2021 revenue was $32.22 million, less than the revenue of $64.8 million in fiscal 2020.
    • As of the fourth quarter of 2021, the company’s R&D costs were $18.8 million, compared to $21.2 million for the same quarter in 2020.
    • Compared to the $77.9 million spent in research and development in 2020, the entire 2021 expenditures were $83.0 million.
    • The company’s net loss in Q4 2021 was around $40.5 million, more significant than compared to the net loss of $29.8 million in Q4 2020.
    • CCXI’s net loss in fiscal 2021 was around $131.7 million; net loss increased by more than twice compared to the net loss of $55.3 million in fiscal 2020.
    • The Q4 2021 basic and diluted loss per share was $0.58, more than compared to the loss per share of $0.43 in Q4 2020.
    • For fiscal 2021, the basic and diluted loss per share was $1.89, compared to a loss per share of 0.84 in fiscal 2020.

    CCXI CEO’s Remarks

    ChemoCentryx’s President and CEO, Thomas J. Schall, Ph.D., said that in 2021, we became an integrated US biopharmaceutical enterprise: one that finds develops, and now distributes new medicines of our own making. TAVNEOS was approved and marketed in the US in October, and the number of patients start forms, patients on medicine, and unique and repeat prescribers is expanding.

    Conclusion

    The company didn’t provide any guidance for 2022. The company’s stock is declining due to severe losses in fiscal 2021. Although the company launched TAVNEOS this year, the company’s net loss increased by a considerable number.

  • Premarket Activity For The ChemoCentryx (CCXI) Stock Today: What Is Raising It?

    In premarket hours on the last check Friday, ChemoCentryx Inc. (CCXI) was up 13.52% at $13.1. In the last trading session, ChemoCentryx stock finished the session up 3.2% at $11.54. A range of $11.1208 to $11.74 was seen in CCXI stock price on the day.

    ChemoCentryx stock traded 3.61 million shares on the day, a volume higher than its daily average of 1.9 million shares over 100 days. The CCXI stock has gained traction following the selection of an abstract from ChemoCentryx by a European body.

    Which abstract from CCXI was selected?

    The biopharmaceutical company ChemoCentryx is developing new medicines for cancer and inflammatory diseases. By using chemokines and chemoattractants, CCXI targets the discovery, development, and commercialization of oral therapies. Avacopan (CCX168) is the lead drug candidate of CCXI. ChemoCentryx completed a pivotal Phase III trial in ANCA-associated vasculitis and a New Drug Application is under review by the US Food and Drug Administration (FDA).

    ChemoCentryx this week has released presentations highlighting findings from its Phase III ADVOCATE and Phase II ACCOLADE and LUMINA-1 trials.

    • CCXI’s presentations were a part of the ERA-EDTA (European Renal Association – European Dialysis and Transplant Association) annual meeting, which was held virtually from June 5 to 8, 2021, in Berlin, Germany.
    • CCXI is also working on avacopan as a treatment for C3 glomerulopathy (C3G) and hidradenitis suppurativa (HS) patients.
    • CCXI’s avacopan has been designated an orphan drug by the FDA for ANCA-associated vasculitis and C3G.
    • The European Commission awarded the company orphan medicinal product designations for avacopan, a medication used in the treatment of microscopic polyangiitis and granulomatosis with polyangiitis caused by ANCA.

    CCXI’s potential:

    ChemoCentryx (CCXI) discovered and developed avacopan, and it is the company that owns and retains the commercial rights in the United States. Vifor Pharma has exclusive rights to commercialize avacopan in markets outside of the United States under the Kidney Health Alliance between Vifor Pharma and CCXI.