ChemoCentryx (CCXI) IPO Opens Higher

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The IPO for ChemoCentryx, Inc. (NASDAQ: CCXI) is open for trading. Shares opened $10.49 after pricing 4,500,000 shares at $10.00 per share. 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.

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