The stock for ChemoCentryx Inc. (NASDAQ:CCXI) is on the rise, in the form of a 35% increase. This is only some of the good news for the company, which has just received two massive milestone payments, both worth $50 million. The first was provided by Vifor Fresenius Medical Care Renal Pharma (OTCMKTS:GNHAF), a joint company of the Vifor Pharma Group (OTC:GNHAY) and Fresenius Medical Care (NYSE:FMS). The other is a growth capital financing agreement with Hercules Capital, Inc. (NYSE:HTGC).
The funding from these two remarkable payments will help ChemoCentryx to further its testing on avacopan, a treatment developed by ChemoCentryx for anti-neutrophil cytoplasmic auto-antibody-associated vasculitis, or ANCA Vasculitis. Avacopan is currently in Phase III of development.
In addition, avacopan was just accepted into review by the European Medicines Agency, meaning that the treatment is underway for approval. (This is also what led to ChemoCentryx receiving its payment from VFMCRP.)
The multitude of good news for ChemoCentryx means that it is one step closer to treating ANCA Vasculitis. It has also led to the impressive results the company is experiencing on the market today. At the time of writing, the company’s stock is trading at $8.372, which puts it up $2.182, or 35.250%, from the previous closing price of $5.90. So far, the day’s trading has ranged from $5.82 to $9.50, putting the 52-week range between $5.42 and $10.80. The last large spike in the company’s stock came in July of last year. The company’s market cap is currently $408.275 million.
ChemoCentryx isn’t the only healthcare company on the rise today. Ampliphi Biosciences Corp. (NYSE:APHB), HTG Molecular Diagnostics Inc. (NASDAQ:HTGM), and Aethlon Medical Inc. (NASDAQ:AEMD) are all up as well, up 23.49%, up 48.91%, and 32.92% respectively. From being among the top percentage gainers on the Nasdaq exchange, healthcare and biotechnology companies are shining in the spotlight, taking the place as the market to watch right now!
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