ChemoCentryx up as European drug panel backs rare autoimmune disease drug

Churchill Capital XI

12/11/2021 14:13

** Shares of biopharma co  CCXI.O  up ~1% at $39 premarket
    ** A panel of the European medicines regulator has
recommended approving co's drug Tavneos  urn:newsml:reuters.com:*:nGNX3jCj77
    ** Tavneos, approved by the U.S. FDA in October, is an oral
drug to treat a group of conditions characterized by destruction
and inflammation of small blood vessels and affecting different
organs, particularly the kidney  urn:newsml:reuters.com:*:nL4N2R42LP
    ** The European Commission is scheduled to give decision on 
Tavneos's approval in January next year
    ** Co's partner Swiss-based Vifor Pharma  VIFN.S  has
exclusive rights to market the drug in countries outside the
U.S.
    ** As many as 7 of 8 brokerages rate the stock "buy" or
higher and 1 "hold" ; their median PT is $64.50
    ** Up to Thursday's close, stock had fallen 37.65% YTD 

 (Reporting by Oishee Majumdar in Bengaluru)
 ((oishee.majumdar@thomsonreuters.com;))