The Sell-Off
ChemoCentryx (CCXI) is a clinical-stage small market cap ($390M) biopharma developing innovative chemokine-based therapeutics for rare, autoimmune and oncological diseases. Since my last article in late May/2019, CCXI share price has depreciated 50%. The stock price depreciation could be attributed to the clinical news from the small-cap clinical-stage biopharma, InflaRx (IFRX).
In Q2/2019, InflaRx announced that a Phase 2b clinical trial evaluating lead candidate IFX-1 in patients with a chronic inflammatory skin disorder called hidradenitis suppurativa ((HS)) was not clinically successful. Investors incorrectly inferred that avacopan (formerly CCX168)