Research and development expenses for the fourth quarter 2011 were $5.4 million compared to $8.1 million for the same period in 2010. Research and development expenses for the year ended December 31, 2011 were $28.4 million compared to $33.5 million in 2010. The decrease was primarily due to the completion of the Phase II clinical trial for CCX354 in 2011.
General and administrative expenses for the fourth quarter of 2011 were $1.9 million and the same for the comparable period in 2010. General and administrative expenses for the year ended December 31, 2011 were $7.6 million compared to $7.3 million for 2010.
Cash, cash equivalents and investments totaled $96.1 million at December 31, 2011, compared to $82.8 million at December 31, 2010.
2012 Financial OutlookProjected 2012 year-end cash, cash equivalents and investments is expected to be at least $115.0 million.
About ChemoCentryxChemoCentryx, 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. ChemoCentryx's most advanced drug candidate, vercirnon (also known as Traficet-EN, CCX282, GSK1605786 or GSK'786), a specific CCR9 inhibitor, completed a multi-national clinical trial, called PROTECT-1, in patients with moderate-to-severe Crohn's disease, where it demonstrated
|SOURCE ChemoCentryx, Inc.|
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