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ChemoCentryx gains after EMA validates avacopan MAA

January 5, 2018 12:44 AM UTC

ChemoCentryx Inc. (NASDAQ:CCXI) jumped $2.44 (39%) to $8.63 Thursday after it said EMA validated an MAA for avacopan (CCX168), triggering a $50 million milestone payment from Vifor Fresenius Medical Care Renal Pharma Ltd. ChemoCentryx also announced Thursday that it received $5 million of the first $15 million tranche in a $50 million credit facility from Hercules Capital.

The MAA is seeking conditional approval of avacopan to treat antineutrophil cytoplasmic antibody (ANCA)-associated vasculitis based on data from the Phase II CLEAR trial. Data from CLEAR showed that both regimens of avacopan -- twice-daily 30 mg avacopan plus low-dose steroids and twice-daily 30 mg avacopan plus no steroids -- met the primary endpoint of non-inferiority to high-dose steroid-containing standard of care (SOC) in Birmingham Vasculitis Activity Score (BVAS) response at week 12...