RTTNews | Oct 8, 2021 10:27AM EDT

10:27 Friday, October 8, 2021 (RTTNews.com) - Shares of ChemoCentryx Inc. (CCXI) surged 80% on Friday morning after the U.S. Food and Drug Administration approved the company's vasculitis drug.

CCXI is currently trading at $35.04, up $15.44 or 78.78%, on the Nasdaq, on a volume of 15.2 million shares, above average volume of 1.8 million shares. The stock has traded between $9.53 and $70.29 in the past 52 week period.

ChemoCentryx said FDA approved Tavneos (avacopan), an orally administered selective complement 5a receptor inhibitor, as an adjunctive treatment of adult patients with severe active anti-neutrophil cytoplasmic autoantibody-associated vasculitis, specifically granulomatosis with polyangiitis and microscopic polyangiitis, in combination with standard therapy.

According to Mayo Clinic, vasculitis involves inflammation of the blood vessels. The inflammation can cause the walls of the blood vessels to thicken, which reduces the width of the passageway through the vessel. If blood flow is restricted, it can result in organ and tissue damage.

Tavneos is expected to be made available to clinicians and patients in the next few weeks.

Roche's Rituximab is the only other FDA-approved therapy for adult patients with GPA and MPA.

Read the original article on RTTNews ( https://www.rttnews.com/3231522/chemocentryx-surges-80-after-fda-approves-its-vasculitis-drug.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved