Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 03/22/2024 (Date of last review)

Filing Date: May 05, 2021

According to the Complaint, ChemoCentryx, Inc. 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 for the treatment of patients with ANCA vasculitis.

The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and omitted to disclose material information. Specifically, the Complaint alleges 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 ANCA-associated vasculitis; (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, Defendants’ public statements were materially false and misleading at all relevant times.

On January 28, 2022, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 21-CV-03343.

Lead Plaintiff filed an amended consolidated Complaint on March 28, 2022. Defendants filed a Motion to Dismiss the amended consolidated Complaint on May 19. On February 23, 2023, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

Lead Plaintiff filed a Motion for Class Certification on August 25, 2023. On March 6, 2024, the Court issued an Order granting Plaintiff's Motion for Class Certification.

Protected Content


Please Log In or Sign Up for a free account to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.

When you sign up, you will have the option to save your search queries performed on the Advanced Search form.