ChemoCentryx, Inc. (CCXI) declined in the current market after announcing its fourth quarter and fiscal 2021 results. CCXI values at $23.39, losing more than 20.60% compared to yesterday’s closing price. The stock closed at $29.46 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.25 million shares. The current market cap of the company is about $1.59 billion.
CCXI: Q4 and Fiscal 2021 Key Financials
- ChemoCentryx, Inc.’s revenue in Q4 2021 was $2.3 million lower than compared to the revenue of $4.3 million in Q4 2020.
- Fiscal 2021 revenue was $32.22 million, less than the revenue of $64.8 million in fiscal 2020.
- As of the fourth quarter of 2021, the company’s R&D costs were $18.8 million, compared to $21.2 million for the same quarter in 2020.
- Compared to the $77.9 million spent in research and development in 2020, the entire 2021 expenditures were $83.0 million.
- The company’s net loss in Q4 2021 was around $40.5 million, more significant than compared to the net loss of $29.8 million in Q4 2020.
- CCXI’s net loss in fiscal 2021 was around $131.7 million; net loss increased by more than twice compared to the net loss of $55.3 million in fiscal 2020.
- The Q4 2021 basic and diluted loss per share was $0.58, more than compared to the loss per share of $0.43 in Q4 2020.
- For fiscal 2021, the basic and diluted loss per share was $1.89, compared to a loss per share of 0.84 in fiscal 2020.
CCXI CEO’s Remarks
ChemoCentryx’s President and CEO, Thomas J. Schall, Ph.D., said that in 2021, we became an integrated US biopharmaceutical enterprise: one that finds develops, and now distributes new medicines of our own making. TAVNEOS was approved and marketed in the US in October, and the number of patients start forms, patients on medicine, and unique and repeat prescribers is expanding.
Conclusion
The company didn’t provide any guidance for 2022. The company’s stock is declining due to severe losses in fiscal 2021. Although the company launched TAVNEOS this year, the company’s net loss increased by a considerable number.
