ChemoCentryx Announces Pricing of Initial Public Offering

Published on Wednesday, 08 February 2012 09:21 Written by TradersHuddle Staff

MOUNTAIN VIEW, Calif., Feb. 8, 2012 /PRNewswire/ -- ChemoCentryx, Inc. (NASDAQ: CCXI) announced today the pricing of its initial public offering of 4,500,000 shares of its common stock at $10.00 per share, before underwriting discounts and commissions. All of the common stock is being offered by ChemoCentryx. In addition, the underwriters have a 30-day option to purchase up to an additional 675,000 shares of common stock from ChemoCentryx to cover over-allotments, if any.

Shares of ChemoCentryx's common stock will trade on the NASDAQ Global Select Market under the symbol "CCXI" beginning on February 8, 2012. The offering is expected to close on February 13, 2012, subject to customary closing conditions.

J.P. Morgan Securities LLC and Citigroup are acting as joint book-running managers of the offering, and Cowen and Company, LLC is acting as co-manager of the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 8, 2012. This offering is being made only by means of a prospectus, copies of which may be obtained from J. P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by phone at 866-803-9204, or from Citigroup, Attn: Prospectus Delivery Department, Brooklyn Army Terminal, 140 58th Street, Brooklyn, New York 11220 or by phone at 718-765-6732.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About ChemoCentryx 

ChemoCentryx, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics that target the chemokine and chemoattractant systems in order to treat autoimmune diseases, inflammatory disorders and cancer. The chemokine system is a biological network that regulates inflammation via a collection of secreted chemokine molecules, or ligands, and their specific cell surface receptors. Based on its proprietary drug discovery and drug development platform, ChemoCentryx has generated multiple clinical and preclinical-stage programs, each targeting distinct chemokine and chemoattractant receptors with different small molecule compounds.

Certain statements in this press release may constitute "forward-looking statements". These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE ChemoCentryx, Inc.