ChemoCentryx commences CCX140 Phase II trial in diabetic nephropathy ChemoCentryx.

Upon successful completion of the Phase II program in diabetic nephropathy with CCX140, our business lead independent drug applicant, we plan to expeditiously initiate Phase III clinical advancement, mentioned Thomas Schall, Ph.D. President & Chief Executive Officer, ChemoCentryx. .. ChemoCentryx commences CCX140 Phase II trial in diabetic nephropathy ChemoCentryx, Inc. Announced the initiation of a Stage II scientific trial for CCX140 today, an orally-administered small molecule for the treatment of diabetic kidney disease . CCX140 functions by blocking the infiltration and activation of specific populations of monocyte and macrophages and various other cells bearing CCR2 that occurs during inflammation.Liquidity and Exceptional Share Capital At June 30, 2015, the business had cash and cash equivalents of $7.6 million. As of 4 August, 2015, the ongoing firm had 17,243,580 common shares issued and outstanding and 1,487,554 common shares issuable upon the exercise of outstanding commodity at a weighted-average exercise price of CAD $5.78 per share, and 147,098 restricted share units outstanding. On July 28, 2015, the company announced that it entered into an agreement with a syndicate of underwriters who’ve agreed to buy, on a bought offer basis, 1,875,000 common shares from the treasury of the company at a cost of US$8.00 per share for gross proceeds of US$15.0 million.