|Over a week ago|
ChemoCentryx identifies checkpoint inhibitor CCX559 for cancer treatment » 08:3506/2406/24/20
ChemoCentryx announced that it has identified an orally administered checkpoint inhibitor, CCX559, and plans to initiate clinical development in the first half of 2021. Data to be presented on Wednesday, June 24 at 10:35 a.m. ET, during the virtual meeting of the American Association for Cancer Research, showed that the Company's optimized checkpoint inhibitors led to marked inhibition of the PD-1/PD-L1 interaction and signaling in vitro and potent anti-tumor effects in animal models. The PD-1/PD-L1 pathway protects tumor cells from the immune system's cancer-fighting activity. Inhibition of PD-L1 has the potential to prevent PD-1 binding to PD-L1, thereby exposing tumor cells to the full force of the immune system's anti-tumor response. ChemoCentryx optimized several small molecule PD-L1 inhibitors it designed to disrupt the interaction of PD-1 with PD-L1. Active compounds were found to be highly potent in several functional cell-based assays, a mixed lymphocyte reaction assays, and by human peripheral blood mononuclear cell (PBMC)-mediated tumor cell killing assessments. Potential clinical candidate compounds were selected for potency and oral bioavailability and were evaluated in vivo using murine tumor models. Assessment of the tumor microenvironment demonstrated that the lead compounds almost completely blocked the interaction of PD-L1 on tumor cells with PD-1 on immune effector cells, thus enhancing the immune responses against tumor. Importantly, the in vivo anti-tumor effects of ChemoCentryx's small molecules were consistently as good or better than the antibody therapeutics to the PD-1/PD-L1 pathway in these models.
ChemoCentryx initiated with a Buy at BTIG » 20:0006/1606/16/20
BTIG analyst Dae Gon Ha…
BTIG analyst Dae Gon Ha initiated coverage of ChemoCentryx with a Buy rating and $70 price target. The company's "robust phase 3 ADVOCATE data surprised investors and, assuming the drug's approval, has the potential to deliver another upside surprise with commercial success", the analyst tells investors in a research note, estimating peak U.S. sales of $1.2B in 2035.
ChemoCentryx 5.2M share Spot Secondary priced at $58.00 » 22:2006/1006/10/20
The deal range was…
The deal range was $57.00-$59.00. SVB Leerink and Piper Sandler acted as joint book running managers for the offering.
ChemoCentryx announces common stock offering, no amount given » 16:1006/1006/10/20
ChemoCentryx announced that it has commenced an underwritten public offering of its common stock. SVB Leerink and Piper Sandler are acting as joint bookrunning managers for the offering.
ChemoCentryx files automatic mixed securities shelf 16:0406/1006/10/20
|Over a month ago|
ChemoCentryx data highlights potential to challenge standards, Piper says » 15:0806/0306/03/20
Piper Sandler analyst…
Piper Sandler analyst Edward Tenthoff maintained an Overweight rating and $70 price target on ChemoCentryx following the presentation of Phase III ADVOCATE data on avacopan in ANCA-associated vasculitis, or AAV, which hit both primary endpoints. The analyst feels these results show avacopan's "benefit over steroids in lowering the total burden of disease, suggesting potential to challenge current AAV standard-of-care."
ChemoCentryx to present Phase 3 ADVOCATE trial outcomes at EU meetings » 15:0406/0306/03/20
ChemoCentryx announced earlier that it plans presentations highlighting outcomes of the company's Phase 3 ADVOCATE trial as part of the virtual annual meetings of the leading European rheumatology and nephrology organizations, EULAR and ERA-EDTA, being held June 3-6 and June 6-9, respectively. The open plenary abstract session at the European League Against Rheumatism meeting was held today, June 3, while the oral presentation at the European Renal Association - European Dialysis and Transplant Association meeting is planned for Sunday, June 7. The ADVOCATE trial of avacopan was a global randomized, double-blind, active-controlled, double-dummied Phase 3 trial of 331 patients with ANCA-associated vasculitis.
ChemoCentryx initiated with an Overweight at Wells Fargo » 06:0705/2705/27/20
Wells Fargo analyst Yanan…
Wells Fargo analyst Yanan Zhu initiated coverage of ChemoCentryx with an Overweight rating and $79 price target. The analyst believes ChemoCentryx's lead product candidate avacopan has a "compelling value proposition" as a novel treatment for ANCA-associated vasculitis and is poised to change the current standard-of-care, with potential to achieve $2B in peak global sales in this indication alone. Further, avacopan is a "pipeline in a drug" and the mechanism of C5a inhibition scould translate into clinical benefit in other autoimmune inflammatory conditions, Zhu tells investors in a research note.
ChemoCentryx price target lowered to $58 from $68 at Canaccord » 08:2605/1905/19/20
Canaccord analyst Michelle Gilson lowered the firm's price target on ChemoCentryx to $58 from $68 and keeps a Buy rating on the shares. The analyst continues to see upside opportunity in the shares from current levels despite its announcement that its Phase 2 LUMINA-1 study did not meet its primary endpoint.
ChemoCentryx price target raised to $70 from $54 at Piper Sandler » 12:3205/1805/18/20
Piper Sandler analyst…
Piper Sandler analyst Edward Tenthoff raised the firm's price target on ChemoCentryx to $70 from $54 and keeps an Overweight rating on the shares. Tenthoff says the Phase II LUMINA-1 study of CCX140 in FSGS failed to meet the primary endpoint and did not meaningfully reduce proteinuria after 12 weeks and the company is discontinuing development of CCX140 in FSGS including the Phase II LUMINA-2 study in more severe FSGS patients. However, he notes that ChemoCentryx remains on track to submit the avacopan NDA in mid'20 and OUS partner Vifor to file a MAA this year based on positive Phase III ADVOCATE data in ANCA associated vasculitis and that it has completed enrollment of greater than400 hidradenitis suppurativa patients in Phase II AURORA study in with top-line data in Q3.