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ChemoCentryx's valuation reaches nearly $1.8 billion after vasculitis readout

ChemoCentryx became the latest biotech to post a triple-digit percentage gain based on a clinical readout, adding more than $1.3 billion in market cap after its avacopan showed statistical superiority to standard-of-care therapy in a Phase III trial to treat a rare form of vasculitis.

ChemoCentryx Inc. (NASDAQ:CCXI) climbed $22.67 (281%) to $30.73 Tuesday, reaching an intraday high of

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