ChemoCentryx Inc. (CCXI) stock prices were up by 95.97% as of the market closing on October 8th, 2021. This brought the price per share up to USD$38.41 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 2.06%, bringing it up to USD$39.20.
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Approval of TAVNEOS
October 8th 2021 saw CCXI stock announce the approval of its proprietary TAVNEOS treatment by the United States Food and Drug Administration. TAVNEOS is an orally administered selective complement 5a receptor inhibitor. It is designed to be an adjunctive treatment for adult patients with severe active anti-neutrophil cytoplasmic autoantibody-associated vasculitis. It specifically targets granulomatosis with polyangiitis and microscopic polyangiitis, in combination with standard therapy. ANCA-associated vasculitis is a systemic autoimmune disease wherein over-activation of the complement system further activates neutrophils. This leads to inflammation and eventual destruction of small blood vessels, which results in organ damage and failure. The kidneys are the primary target of this process, which can be fatal if left untreated.
CCXI Stock’s Long-term Efforts
The company is excited for the fruition of its cumulative efforts over the past few decades. CCXI stock is keen to facilitate the accessibility of TAVNEOS for clinicians and patients over the upcoming few weeks. This development is a product of the company’s collaboration with the Agency, as well as with pioneering scientists, clinicians, and patients. These efforts have resulted in a first-in-a-decade approval for a medicine for ANCA-associated vasculitis. Accordingly, patients will now have access to a new class of medication, one which provides the beneficial effects for the treatment of ANCA-associated vasculitis.
TAVNEOS is the first orally-administered inhibitor of the complement C5a receptor approved by the U.S Food and Drug Administration. The approval was based on the positive results of the pivotal Phase 3 ADVOCATE trial. These results were highlighted in the February Edition of The New England Journal of Medicine. The trial was a global, randomized, double-blind, active-controlled, double dummy Phase 3 study. A total of 330 patients with ANCA-associated vasculitis were enrolled across 20 countries.
Future Outlook for CCXI Stock
The company is keen to push for the accelerated development and commercialization of its proprietary TAVNEOS treatment. CCXI stock is poised to capitalize on the expanded scope of opportunities afforded to it as a result of this development. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate consistent and organic increases in shareholder value over the long term.