We plan to initiate a Phase I clinical trial of CCX559 in the first half of 2021. The placebo-controlled treatment period was 26 weeks (182 days). The disease originates from inflammation and occlusion of the hair follicle. Serious TEAEs were observed in 2.3% of placebo patients vs. 1.5% on avacopan. In October 2020, we entered into a manufacturing and supply agreement with Vifor. We plan to advance CCX559 into a Phase I clinical trial in the first half of 2021. We believe that these are potential therapeutic opportunities for a CCR6 inhibitor. The address of that website is www.sec.gov. The following list summarizes some, but not all, of these risks. We may also face delays in the development and commercialization of our drug candidates. 8226; We may be adversely affected by the economic environment. &# Further, chemokine receptors and chemoattractant receptors are a novel class of targets. Some or all of our drug candidates may prove to be unsafe for human use. We cannot assure you that any of our patent applications will result in issued patents. For example, in March 2010, the Affordable Care Act was signed into law. These changes will lead to additional costs and increase our overall risk. As of December 31, 2020, we had 69,452,466 shares of common stock outstanding. We have broad discretion in the use of our cash and may not use it effectively.
