6 Days Ago
1 Min Read

CCXI seeing an increase of 109% today. Here's what's moving the stock:

CCXI
+0.16% 24h



Chemocentryx Inc (CCXI) is trading 109% higher at $50.39 today.

  • Chemocentryx Inc receiving $52 per share bid from Amgen, representing ~116% premium over the Wednesday closing price 
  • The Boards of Directors at both companies have already both given their unanimous support to the deal
  • Robert Bradway, chairman and CEO of Amgen: “The acquisition of ChemoCentryx represents a compelling opportunity for Amgen to add to our decades-long leadership in inflammation and nephrology with TAVNEOS, a transformative, first-in-class treatment for ANCA-associated vasculitis”
  • Acquisition expected to close in the fourth quarter of 2022

Chemocentryx Inc has been trading between a 52-week high of $42.16 and a 52-week low of $13.11. The stock has a market cap of $3.59 Billion.

ChemoCentryx is a biopharmaceutical company developing new medications for inflammatory and autoimmune diseases and cancer. ChemoCentryx targets the chemokine and chemoattractant systems to discover, develop and commercialize orally-administered therapies. ChemoCentryx's lead drug candidate, avacopan (CCX168), successfully completed a pivotal Phase III trial in ANCA-associated vasculitis and a New Drug Application is under review by the U.S. Food and Drug Administration.

Headlines


ChemoCentryx (CCXI) Stock Soars 100% on Amgen Acquisition
InvestorPlace 08-04-22

Amgen adds potential blockbuster drug with $3.7 billion ChemoCentryx deal
FX Empire 08-04-22

ChemoCentryx option IV decreases after Amgen (AMGN) to acquire ChemoCentryx for $52 per share in cash
Investing.com 08-04-22

Shareholder Alert: Ademi LLP investigates whether ChemoCentryx, Inc. has obtained a Fair Price in its transaction with Amgen
PR Newswire 08-04-22

Piper Sandler Downgrades ChemoCentryx to Neutral
Investing.com 08-04-22


As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

Kind_Elevator_6597 - 1 upvotes - source
My favorite biotech Ccxi sold their drug for around 4 billy.I sold it back in October for 38 congrats to those who waited for over 50.

BlackpanthaCS32 - 1 upvotes - source
Moved up $5 PUMP : ![img](emote|t5_2th52|4271) Nobody talked about CCXI

nationalizm - 0 upvotes - source
Holy shit has anyone seen how much CCXI $40c’s went up? From 0.01 to 10.20 in a day, Literally up 101k%, do those actually pay out if there’s barely any volume on them or open interest? Imagine being a market maker and learning your short is down 100% ![img](emote|t5_2th52|4271)