Stock Monitor: Altimmune Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free earnings report on ChemoCentryx, Inc. (NASDAQ: CCXI). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CCXI. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on March 14, 2018. The biopharmaceutical organization surpassed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Altimmune, Inc. (NASDAQ: ALT), which also belongs to the Healthcare sector as the Company ChemoCentryx. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, ChemoCentryx most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CCXI

Earnings Highlights and Summary

For the fourth quarter ended December 31, 2017, ChemoCentryx's revenues soared 1049% to $56.3 million compared to $4.9 million in Q4 2016. For the full year FY17, the Company's revenues were $82.5 million compared to $11.9 million in FY16. The increase in revenues for Q4 2017 and FY17 was attributed to the Conditional Marketing Authorization (CMA) application validation milestone; the amortization of the upfront license fee commitments from Vifor Pharma, pursuant to the avacopan and CCX140 agreements; and the collaboration revenues for development services under the CCX140 agreement. ChemoCentryx's reported quarter results beat analysts' estimates by $46.9 million.

During Q4 2017, ChemoCentryx's research and development (R&D) expenses were $12.9 million compared to $9.2 million in Q4 2016. For FY17, the Company's R&D expenses were $49.5 million compared to $37.9 million in FY16. The increase in R&D expenses for Q4 2017 and FY17 was primarily due to the initiation and patient enrollment of the avacopan Phase-III ADVOCATE trial in patients with ANCA vasculitis, and start-up expenses related to the Phase-II clinical trials in patients with FSGS and C3G. These increases were partially offset by lower Phase-II clinical development expenses, and lower Phase-I development expenses due to the completion of the enrollment in the clinical trial for CCX872 in patients with advanced pancreatic cancer in 2016.

For Q4 2017, ChemoCentryx's general and administrative (G&A) expenses were $4.1 million compared to $3.6 million in Q4 2016. For FY17, the Company's G&A expenses were $16.5 million compared to $14.7 million in FY16. The increase in G&A expenses for the reported period was primarily due to higher intellectual property-related expenses and accounting-related fees associated with preparing to meet the requirements pursuant to the Sarbanes-Oxley Act of 2002, partially offset by lower travel expenses.

For Q4 2017, ChemoCentryx reported a net income of $39.7 million, or $0.80 per diluted share, compared to a net loss of $7.7 million, or $0.16 loss per diluted share, in Q4 2016. The Company's reported quarter results smashed past analysts' estimates for a loss of $0.20 per share.

For FY17, ChemoCentryx's net income was $17.9 million, or $0.36 per diluted share, which compares favorably to a net loss of $40.0 million, or $0.86 loss per diluted share, in FY16.

Cash Matters

As of December 31, 2017, ChemoCentryx's pro-forma cash, cash equivalents, and investments, including remaining upfront commitments and milestone payments, totaled $195.2 million.

In December 2017, ChemoCentryx strengthened its balance sheet with up to $100 million in new capital commitments, including a milestone of $50 million from its partner Vifor Pharma, along with the growth capital financing agreement of up to $50 million.

ChemoCentryx expects to utilize cash and investments of between $65 million and $75 million for FY18.

Stock Performance Snapshot

April 18, 2018 - At Wednesday's closing bell, ChemoCentryx's stock fell 2.91%, ending the trading session at $11.01.

Volume traded for the day: 122.89 thousand shares.

Stock performance in the last three-month ? up 32.01%; previous six-month period ? up 42.62%; past twelve-month period ? up 53.99%; and year-to-date ? up 85.04%

After yesterday's close, ChemoCentryx's market cap was at $545.99 million.

Price to Earnings (P/E) ratio was at 37.97.

The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was flat at the end of the session.

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