Welcome to our dedicated page for Chimerix news (Ticker: CMRX), a resource for investors and traders seeking the latest updates and insights on Chimerix stock.
Chimerix, Inc. (NASDAQ: CMRX) is a pioneering biopharmaceutical company focused on the development of innovative antiviral therapeutics. Led by a team of experienced professionals, Chimerix aims to enhance the quality of life for patients across diverse medical fields, including transplant, oncology, acute care, and global health.
Chimerix leverages its proprietary lipid technology, resulting in two promising clinical-stage compounds: CMX001 and CMX157. These compounds have shown potential for improved activity, bioavailability, and safety over existing drugs. The lead compound, CMX001, is a broad-spectrum antiviral that combats double-stranded DNA (dsDNA) viruses, such as cytomegalovirus (CMV), adenovirus, BK virus, herpes simplex virus, and variola (smallpox). CMX001 has completed Phase 2 development for CMV prophylaxis and is currently in Phase 2 trials for adenovirus treatment in hematopoietic stem cell transplant (HSCT) recipients.
Chimerix’s portfolio also includes ONC201, an oral, first-in-class small molecule imipridone targeting H3 K27M-mutant gliomas. The Phase 3 ACTION trial for ONC201 is a major focus, enrolling patients at over 130 sites in 13 countries. This study aims to report interim overall survival data by early 2025. Additionally, Chimerix's second-generation compound, ONC206, is undergoing Phase I dose escalation trials, demonstrating anti-cancer activity in both CNS and non-CNS tumors.
Financially, Chimerix maintains a robust balance sheet with significant capital to fund ongoing operations, reflecting sound fiscal management. The company reported a net loss of $18.6 million for Q2 2023 but continues to advance its research and development initiatives.
Chimerix’s mission is to develop medications that significantly improve and extend the lives of patients battling severe diseases. With ongoing clinical trials, strategic financial planning, and a dedicated team, Chimerix is poised to make substantial contributions to global health.
Chimerix (NASDAQ:CMRX) recently addressed potential liquidation discussions with Rubric Capital Management. The company emphasized its commitment to its Phase 3 neuro-oncology program, ONC201, which targets a significant patient need. Chimerix highlighted its recent sale of TEMBEXA as a funding source for ongoing oncology developments, asserting that liquidation would hinder progress and deprive shareholders of potential gains. The leadership remains optimistic about creating value through continued advancements in their product pipeline, especially with promising Phase 2 data for ONC201.
Rubric Capital Management, owning about 8.5% of Chimerix (CMRX), has expressed concerns regarding the company's strategy and calls for a winddown process. The investment advisor highlights a significant discount of the share price to its liquidation value and urges management to conserve cash while exploring strategic alternatives for ONC201. They estimate a liquidation value of $2.95 to $4.36 per share, implying a potential return of 52% to 125% based on recent prices. Rubric emphasizes the urgent need for cost reduction and a change in direction to protect shareholder value.
Chimerix (CMRX) announced a strong financial position with approximately $285 million in cash as of September 30, 2022. The company is on track to open enrollment for its Phase 3 ACTION study of ONC201 in November and has scheduled a meeting with the FDA to discuss accelerated approval. Chimerix reported net income of $241.4 million for Q3 2022, with revenues rising to $32.6 million, driven by international sales of TEMBEXA. R&D expenses increased to $15.3 million as the company focuses on oncology treatments.
Chimerix (NASDAQ:CMRX) will host a live conference call on November 3, 2022, at 8:30 a.m. ET to report its financial results for Q3 2022, ending September 30, 2022. The event aims to provide insights into the company’s business overview. Investors can join by dialing (646) 307-1963 for domestic calls or (800) 715-9871 for international calls, with the conference ID 2765632. A live audio webcast will also be available on Chimerix's website, and an archived version will be accessible shortly after the event.
Chimerix, Inc. (CMRX) announced the sale of its antiviral drug TEMBEXA to Emergent BioSolutions, receiving $238 million upfront. This transaction also includes potential milestone payments totaling up to $136.5 million and royalties on future sales. The sale is expected to enhance Chimerix's financial position, supporting the ongoing development of its oncology product ONC201, specifically for treating H3 K27M mutant gliomas. TEMBEXA is FDA-approved for smallpox treatment, although its efficacy in humans remains unproven due to ethical concerns.
Chimerix (NASDAQ:CMRX) announced that CEO Mike Sherman will present a pre-recorded corporate presentation at the H.C. Wainwright 24th Annual Global Investment Conference. The presentation will be accessible on September 12, 2022, at 7:00 a.m. ET. An audio webcast of the presentation will also be available on Chimerix's Investor Relations website for about 90 days. Chimerix is dedicated to developing treatments that enhance the lives of patients with severe diseases, with its leading program, ONC201, focused on H3 K27M-mutant glioma.
Chimerix (NASDAQ:CMRX) has secured a multi-year contract with BARDA for the provision of up to 1.7 million treatment courses of TEMBEXA, with an initial procurement of 319,000 courses valued at $115 million. This 10-year contract could reach a total value of $680 million, including future procurements and post-marketing activities. Emergent BioSolutions, Inc. will make an upfront payment of $238 million and potential milestones of up to $124 million for TEMBEXA. The drug, approved for smallpox treatment, offers a vital therapeutic option in emergencies.
Chimerix (NASDAQ:CMRX) has announced plans to initiate the Phase 3 ACTION study for ONC201 targeting H3 K27M-mutant glioma this year. Following international agreements, approximately $32 million in revenue from TEMBEXA has been recognized. The company obtained U.S. anti-trust clearance for the $225 million sale of TEMBEXA to Emergent BioSolutions. Chimerix reported a net loss of $23.5 million for Q2 2022, up from $17.8 million YoY, with R&D expenses rising to $18 million. The company expects to use recent revenues to fund clinical studies and further pipeline development.
Chimerix (NASDAQ:CMRX), a biopharmaceutical company, announced its participation in the Targeted Oncology panel at the 2022 Wedbush PacGrow Healthcare Conference on August 9, 2022, at 10:20 a.m. During this event, the management will discuss their mission to develop life-extending medicines for patients facing deadly diseases. A live audio webcast of the presentation will be available on the Investor Relations section of Chimerix’s website, where it will remain archived for approximately 90 days.
Chimerix's advanced development program focuses on ONC201 for H3 K27M-mutant glioma.
Chimerix (CMRX) will host a live conference call on August 8, 2022, at 4:30 p.m. ET to discuss Q2 financial results and provide a business overview. This session will allow investors to gain insights into the company's performance for the quarter ending June 30, 2022. The call can be accessed via phone or live audio webcast. Chimerix focuses on developing medicines for patients with serious diseases, with its key program, ONC201, in clinical development for H3 K27M-mutant glioma.
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