ChemoCentryx, Inc. (CCXI) saw its loss narrow to $6 million, or $0.12 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $15.24 million, or $0.34 a share.
Revenues for the quarter were $8.23 million. The company has not recorded any revenues for the previous year period.
Operating loss for the quarter was $6.31 million, compared with an operating loss of $15.33 million in the previous year period.
"We end the first quarter of 2017 with a strengthened balance sheet thanks to our expanded kidney health alliance with Vifor Pharma and also with our Phase III trial for avacopan in ANCA Vasculitis (AAV) underway," said Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. "We are pleased to have received a third orphan drug designation for avacopan from the FDA, adding C3 glomerulopathy to the previous orphan designations for AAV and atypical hemolytic uremic syndrome (aHUS). By the end of this year, we plan to have four late stage clinical trials in rare renal indications in progress, each of which, if successful, may support registration; one for each of avacopan’s three orphan indications, and one for CCX140 in the treatment of focal segmental glomulerosclerosis."
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