BusinessChemoCentryx'sstock

ChemoCentryx’s stock jumps 80% after receiving FDA approval for vasculitis drug

Shares of ChemoCentryx Inc.
CCXI,
+71.22%

soared 80.3% in premarket trading on Friday after the company said that it had received approval from the Food and Drug Administration for its ANCA-associated vasculitis therapy. The company said this is the first new drug to treat the rare autoimmune disease in a decade. ChemoCentryx’s stock slipped 68.3% this year, while the broader S&P 500
SPX,
-0.17%

is up 16.1%.

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