ChemoCentryx Inc (NASDAQ:CCXI) shares are trading lower by 12.8% at $25.70 Wednesday morning after the company reported worse-than-expected fourth-quarter EPS and sales results.
ChemoCentryx reported quarterly losses of 58 cents per share which missed the analyst consensus estimate of a loss of 50 cents per share. ChemoCentryx also reported quarterly sales of $2.31 million which missed the analyst consensus estimate of $11.62 million by 80%. This is a 47% decrease over sales of $4.36 million in the same period last year.
ChemoCentryx highlighted the following business notes from the fourth-quarter:
- Achieved total revenue of $32.2 million in 2021 with $2.3 million in Q4; TAVNEOS® (avacopan) US net product sales of approximately $1.0 million in Q4 2021 following US Food and Drug Administration (FDA) approval in ANCA-associated vasculitis
- TAVNEOS® also approved in European Union (EU) triggering $45 million milestone from Vifor Pharma received in Q1 2022 --
- ChemoCentryx plans to initiate clinical development for TAVNEOS in lupus nephritis (LN) and to meet with FDA on the path forward in severe hidradenitis suppurativa (HS) and C3 glomerulopathy (C3G) in 2022
ChemoCentryx is a biopharmaceutical company involved in the discovery, development, and commercialization of orally administered drugs to treat rare diseases, inflammatory disorders, autoimmune diseases, and cancer.
ChemoCentryx has a 52-week high of $70.21 and a 52-week low of $9.53.
