Business
ChemoCentryx Reports Second Quarter 2020 Financial Results and Recent Highlights
-- U.S. New Drug Application (NDA) submitted for avacopan in ANCA-associated vasculitis -- -- Balance sheet bolstered with $325.7 million in net proceeds from
About this update from Chemocentryx Inc.
[{"type":"text","content":"-- U.S. New Drug Application (NDA) submitted for avacopan in ANCA-associated vasculitis --\n -- Balance sheet bolstered with $325.7 million in net proceeds from June follow-on offering; total cash, cash equivalents and investments greater than $500 million at end of Q2 -- -- Topline data from AURORA trial in Hidradenitis Suppurativa (HS) expected early Q4; C3 Glomerulopathy (C3G) ACCOLADE trial topline data YE 2020 -- -- Novel orally administered checkpoint inhibitor CCX559 for next generation cancer treatment to enter clinical development in H1 2021 -- -- Conference call today at 5:00 p.m. Eastern Time -- MOUNTAIN VIEW, Calif., Aug. 10, 2020 (GLOBE NEWSWIRE) -- ChemoCentryx, Inc. (Nasdaq: CCXI) today announced financial results for the second quarter ended June 30, 2020 and provided an overview of the Company's recent corporate highlights. \"A major milestone was accomplished recently with the filing of the NDA for avacopan for the treatment of ANCA-associated vasculitis with the U.S. FDA,” said Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. “This is one more crucial step toward achieving our unwavering goal of changing the treatment paradigm for people now enduring this organ-threatening and life-endangering disease. ANCA vasculitis patients have waited too long for new therapy; it is our goal to make sure that wait is not in vain.” “We are also ever closer to realizing avacopan’s potential as a pipeline-in-a-drug with upcoming readouts in HS and C3G expected later this year. We will not stop there. The innovation seen in such new pipeline assets as CCX559, our novel orally administered checkpoint inhibitor for next generation cancer treatment, has real potential to fuel future growth and create significant value. I believe that we are poised to achieve our ultimate mission to be a fully integrated and self-sustaining enterprise that provides better therapies for previously neglected, underserved patient needs. And the $325.7 million in net proceeds from our successful June equity follow-on offering, coupled with our already healthy cash reserves, provides the capital to get us there.” Key Highlights Filed the New Drug Application (NDA) for avacopan in the treatment of ANCA-associated vasculitis in July. The Company’s NDA submission is supported by the results of its pivotal Phase III ADVOCATE ...