ChemoCentryx leads premarket gainers after FDA approves drug

Churchill Capital XI

08/10/2021 13:19

** Biopharma co's shares  CCXI.O  surge ~72% to $33.65
premarket - top pct. gainer across exchanges before opening
bell; set for best day in almost two years
    ** Says FDA approved avacopan, its drug to treat a rare and
fatal autoimmune disorder that damages small blood vessels
 urn:newsml:reuters.com:*:nL4N2R42LP
    ** CCXI set for highest open in more than 5 months; more
than 1.3x 25-DMA of shares traded
    ** Stifel analyst Dae Gon Ha expects drug to generate sales
of $1.3 bln by 2035
    ** Avacopan, a pill sold under brand name Taveos, is now
approved to treat the disorder called antineutrophil cytoplasmic
antibody (ANCA)-associated vasculitides (AAV)
    ** Stock fell ~68% YTD up to Thursday's close 

 (Reporting by Ruhi Soni in Bengaluru;)
 ((Ruhi.Soni@thomsonreuters.com;))