ChemoCentryx falls as GlaxoSmithKline returns rights to Crohn's drug

|About: ChemoCentryx (CCXI)|By:, SA News Editor

ChemoCentryx (CCXI) suffered through a tough session Wednesday, falling more than 5% after GlaxoSmithKline (GSK) said no thank you to vercirnon, returning all rights to the CCR9 inhibitor.

CCXI put as positive a spin on the development as possible, noting that it is pleased to have been given "many degrees of freedom in deciding [the] valuable asset's forward path." (PR)

Nevertheless, GSK "shuttered the three remaining late-stage studies it had mounted" for the Crohn's drug, FierceBiotech says, citing GSK which apparently also stated that vercirnon showed "no efficacy ... with either dose over 12 weeks" in the SHIELD-1 trial.

More on vercirnon and SHIELD-1 here.