CMRX Chimerix Inc.

3.16
-0.03  -1%
Previous Close 3.19
Open 3.24
52 Week Low 1.19
52 Week High 4.13
Market Cap $195,699,871
Shares 61,930,339
Float 47,929,082
Enterprise Value $94,583,781
Volume 276,732
Av. Daily Volume 1,253,025
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Upcoming Catalysts

Drug Stage Catalyst Date
Oral Brincidofovir
Smallpox
NDA Filing
NDA Filing
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DSTAT
COVID-19
Phase 2/3
Phase 2/3
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Drug Pipeline

Drug Stage Notes
DSTAT (CX-01)
Acute Myeloid Leukemia (AML)
Phase 3
Phase 3
Phase 3 trial initiation delayed due to COVID-19.
Oral Brincidofovir - AdAPT Study
Allogeneic hematopoietic stem cell transplant (HCT) recipients with adenovirus (AdV)
Phase 2
Phase 2
Phase 2 trial discontinued - May 9, 2019.
IV Brincidofovir
Adult allo-HCT recipients with Adenovirus
Phase 2
Phase 2
Phase 2 trial discontinued - May 9, 2019.
Brincidofovir - SURPASS
Cytomegalovirus (CMV) infection
Phase 3
Phase 3
Phase 3 discontinued following poor data from SUPPRESS trial
Brincidofovir - SUPPRESS
Cytomegalovirus (CMV) infection following an allogeneic hematopoietic stem cell transplant (HSCT)
Phase 3
Phase 3
Phase 3 endpoints not met December 2015
Brincidofovir - SUSTAIN
Cytomegalovirus (CMV) infection
Phase 3
Phase 3
Phase 3 discontinued following poor data from SUPPRESS trial
Brincidofovir - Advise trial
Adenovirus Infection
Phase 3
Phase 3
Phase 3 interim analysis released May 2016. Final data released February 22, 2017.

Latest News

  1. DURHAM, N.C., June 22, 2020 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today announced the appointment of Allen Melemed, M.D., M.B.A., as Chief Medical Officer.

    "We are delighted to welcome Dr. Melemed as a key member of our management team. We look forward to leveraging his considerable clinical and regulatory experience as a distinguished pharmaceutical executive. His vast experience bringing oncology therapeutics through development and approval across multiple modalities will be invaluable as we initiate our dociparstat sodium (DSTAT) Phase 3 trial in first line acute myeloid leukemia (AML), our ongoing Phase 2/3…

    DURHAM, N.C., June 22, 2020 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today announced the appointment of Allen Melemed, M.D., M.B.A., as Chief Medical Officer.

    "We are delighted to welcome Dr. Melemed as a key member of our management team. We look forward to leveraging his considerable clinical and regulatory experience as a distinguished pharmaceutical executive. His vast experience bringing oncology therapeutics through development and approval across multiple modalities will be invaluable as we initiate our dociparstat sodium (DSTAT) Phase 3 trial in first line acute myeloid leukemia (AML), our ongoing Phase 2/3 trial to combat acute lung injury (ALI) in COVID-19 patients, and finalize our rolling New Drug Application (NDA) for brincidofovir (BCV) as a medical countermeasure for smallpox," said Mike Sherman, Chief Executive Officer of Chimerix.

    "I am particularly pleased to be joining Chimerix at such an important juncture in its growth trajectory. DSTAT's potential to improve survival in newly-diagnosed AML patients is critically important in a disease where five-year survival rates remain far too low, particularly in older populations.  Furthermore, DSTAT's broad mechanism to manage inflammation and hematologic disorders offers promise to treat ALI in COVID-19 patients and underpins its mechanism of action in ALI beyond the current pandemic. I look forward to working with the team to advance our pipeline of important therapies and to bringing these life-saving treatments to patients in need," said Dr. Melemed.

    Dr. Melemed joins Chimerix from Eli Lilly and Company, where he spent more than 20 years dedicated to the clinical development and approval of oncology medicines across a broad range of tumor types including VERZENIO®, CYRAMZA®, LARTRUVO® , ALIMTA®  and RETEVMO® among others. Most recently, he served as a Distinguished Medical Fellow and Senior Director of Regulatory Affairs Oncology, North America. In addition to his role at Eli Lilly, Dr. Melemed was an attending physician in pediatric oncology at Indiana University (IU) School of Medicine, Riley Children's Hospital from 1996 to 2012.

    Dr. Melemed holds a B.S. in Genetics and Cell Biology from the University of Minnesota and a M.D. from the University of Minnesota School of Medicine. In addition, he completed his residency in pediatrics at the University of Wisconsin, Madison and fellowship in pediatric hematology/oncology at IU School of Medicine. He earned an M.B.A. from the University of Chicago Booth School of Business. Dr. Melemed has authored dozens of scientific and clinical publications.

    About Chimerix

    Chimerix is a development-stage biopharmaceutical company dedicated to accelerating the advancement of innovative medicines that make a meaningful impact in the lives of patients living with cancer and other serious diseases. Its two clinical-stage development programs are DSTAT and BCV.

    Dociparstat sodium is a potential first-in-class glycosaminoglycan compound derived from porcine heparin that may be dosed at much higher levels without triggering bleeding complications. In vitro and in vivo animal model data support DSTAT's potential to reduce the inflammation and cellular infiltration associated with ALI and address coagulation disorders associated with COVID-19 pathology of high mobility group box 1 (HMGB1) and platelet factor 4 (PF4). Separately, DSTAT inhibits the activities of several key proteins implicated in the viability of AML blasts and leukemic stem cells in the bone marrow during chemotherapy (e.g., CXCL12, selectins, HMGB1, elastase). Randomized AML Phase 2 data suggest that DSTAT may also accelerate platelet recovery post-chemotherapy via inhibition of PF4, a negative regulator of platelet production that impairs platelet recovery following chemotherapy. The company is conducting a randomized, double-blind, placebo-controlled, Phase 2/3 trial to determine the safety and efficacy of DSTAT in adults with severe COVID-19 who are at high risk of respiratory failure. The Phase 2 portion of the study will enroll 24 subjects to confirm the maximum safe dose and will then expand by an additional 50 patients (74 total) at the selected dose. A formal analysis of all endpoints, including supportive biomarkers will be performed at the conclusion of the Phase 2 portion of the study. Contingent upon positive results, the Phase 3 portion of the study will enroll approximately 450 subjects.

    BCV is an antiviral drug candidate in development as a medical countermeasure for smallpox. For further information, please visit the Chimerix website, www.chimerix.com.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include those relating to, among other things, the mechanism of action of DSTAT and its potential; Chimerix's ability to develop DSTAT, including the initiation of a Phase 3 trial in AML and the ongoing Phase 2/3 clinical trial for DSTAT as a potential treatment for ALI associated with COVID-19; Chimerix's ability to submit and/or obtain regulatory approvals for DSTAT and BCV; and the timing and receipt of a potential procurement contract for BCV in smallpox. Among the factors and risks that could cause actual results to differ materially from those indicated in the forward-looking statements are risks that DSTAT may not achieve the endpoints of its clinical trials; risks that DSTAT may not obtain regulatory approval from the FDA or such approval may be delayed or conditioned; risks that development activities related to DSTAT may not be completed on time or at all; Chimerix's reliance on a sole source third-party manufacturer for drug supply; risks that ongoing or future trials may not be successful or replicate previous trial results, or may not be predictive of real-world results or of results in subsequent trials; risks and uncertainties relating to competitive products and technological changes that may limit demand for our drugs; risks that our drugs may be precluded from commercialization by the proprietary rights of third parties; and additional risks set forth in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.

    CONTACT:

    Investor Relations:                            

    Michelle LaSpaluto

    919-972-7115





    Will O'Connor

    Stern Investor Relations

    212-362-1200





    Media:

    David Schull

    Russo Partners

    858-717-2310

    Primary Logo

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  2. DURHAM, N.C., June 18, 2020 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today announced that Company management, including Mike Sherman, Chief Executive Officer, and Mike Andriole, Chief Business and Financial Officer, will participate in a fireside chat at the H.C. Wainwright Virtual Fireside Chat Series on Thursday, June 25, 2020 at 12:05 p.m. ET.

    A live audio webcast of the chat will be available on the Investor Relations section of Chimerix's website at ir.chimerix.com, where it will be archived for approximately 90 days.

    About Chimerix

    Chimerix is a development-stage biopharmaceutical company dedicated to accelerating…

    DURHAM, N.C., June 18, 2020 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today announced that Company management, including Mike Sherman, Chief Executive Officer, and Mike Andriole, Chief Business and Financial Officer, will participate in a fireside chat at the H.C. Wainwright Virtual Fireside Chat Series on Thursday, June 25, 2020 at 12:05 p.m. ET.

    A live audio webcast of the chat will be available on the Investor Relations section of Chimerix's website at ir.chimerix.com, where it will be archived for approximately 90 days.

    About Chimerix

    Chimerix is a development-stage biopharmaceutical company dedicated to accelerating the advancement of innovative medicines that make a meaningful impact in the lives of patients living with cancer and other serious diseases. Its two clinical-stage development programs are dociparstat sodium (DSTAT) and brincidofovir (BCV).

    Dociparstat sodium is a potential first-in-class glycosaminoglycan compound derived from porcine heparin that may be dosed at much higher levels without triggering bleeding complications. In vitro and in vivo animal model data support DSTAT's potential to reduce the inflammation and cellular infiltration associated with acute lung injury and address coagulation disorders associated with COVID-19 pathology (HMGB1 and PF4). Separately, DSTAT inhibits the activities of several key proteins implicated in the viability of AML blasts and leukemic stem cells in the bone marrow during chemotherapy (e.g., CXCL12, selectins, HMGB1, elastase).   Randomized AML Phase 2 data suggest that DSTAT may also accelerate platelet recovery post-chemotherapy via inhibition of PF4, a negative regulator of platelet production that impairs platelet recovery following chemotherapy.  The company is conducting a randomized, double-blind, placebo-controlled, Phase 2/3 trial to determine the safety and efficacy of DSTAT in adults with severe COVID-19 who are at high risk of respiratory failure. The Phase 2 portion of the study will enroll 24 subjects to confirm the maximum safe dose and will then expand by an additional 50 patients (74 total) at the selected dose. A formal analysis of all endpoints, including supportive biomarkers will be performed at the conclusion of the Phase 2 portion of the study. Contingent upon positive results, the Phase 3 portion of the study will enroll approximately 450 subjects.

    BCV is an antiviral drug candidate in development as a medical countermeasure for smallpox. For further information, please visit the Chimerix website, www.chimerix.com.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include those relating to, among other things, the mechanism of action of DSTAT and its potential in ALI patients with COVID-19; Chimerix's ability to develop DSTAT, including the initiation of a Phase 2/3 clinical trial for DSTAT as a potential treatment for ALI associated with COVID-19; Chimerix's ability to submit and/or obtain regulatory approvals for DSTAT and BCV; and the timing and receipt of a potential procurement contract for BCV in smallpox. Among the factors and risks that could cause actual results to differ materially from those indicated in the forward-looking statements are risks that DSTAT may not achieve the endpoints of the Phase 2/3 clinical trial; risks that DSTAT may not obtain regulatory approval from the FDA or such approval may be delayed or conditioned; risks that development activities related to DSTAT may not be completed on time or at all; Chimerix's reliance on a sole source third-party manufacturer for drug supply; risks that ongoing or future trials may not be successful or replicate previous trial results, or may not be predictive of real-world results or of results in subsequent trials; risks and uncertainties relating to competitive products and technological changes that may limit demand for our drugs; risks that our drugs may be precluded from commercialization by the proprietary rights of third parties; and additional risks set forth in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.

    CONTACT:

    Investor Relations:                            

    Michelle LaSpaluto

    919 972-7115





    Will O'Connor

    Stern Investor Relations



    212-362-1200

    Media Contact

    David Schull

    Russo Partners

    858-717-2310

    Primary Logo

    View Full Article Hide Full Article
  3. DURHAM, N.C., May 28, 2020 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today announced that Mike Sherman, Chief Executive Officer, will present a corporate overview and program update at the Jefferies Virtual Healthcare Conference on Thursday, June 4, 2020 at 9:30 a.m. ET.

    A live audio webcast of the presentation will be available on the Investor Relations section of Chimerix's website at ir.chimerix.com, where it will be archived for approximately 90 days.

    About Chimerix

    Chimerix is a development-stage biopharmaceutical company dedicated to accelerating the advancement of innovative medicines that make a meaningful…

    DURHAM, N.C., May 28, 2020 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today announced that Mike Sherman, Chief Executive Officer, will present a corporate overview and program update at the Jefferies Virtual Healthcare Conference on Thursday, June 4, 2020 at 9:30 a.m. ET.

    A live audio webcast of the presentation will be available on the Investor Relations section of Chimerix's website at ir.chimerix.com, where it will be archived for approximately 90 days.

    About Chimerix

    Chimerix is a development-stage biopharmaceutical company dedicated to accelerating the advancement of innovative medicines that make a meaningful impact in the lives of patients living with cancer and other serious diseases. Its two clinical-stage development programs are dociparstat sodium (DSTAT) and brincidofovir (BCV).

    Dociparstat sodium is a potential first-in-class glycosaminoglycan compound derived from porcine heparin that may be dosed at much higher levels without triggering bleeding complications. In vitro and in vivo animal model data support DSTAT's potential to reduce the inflammation and cellular infiltration associated with acute lung injury and address coagulation disorders associated with COVID-19 pathology (HMGB1 and PF4). Separately, DSTAT inhibits the activities of several key proteins implicated in the viability of AML blasts and leukemic stem cells in the bone marrow during chemotherapy (e.g., CXCL12, selectins, HMGB1, elastase). Randomized AML Phase 2 data suggest that DSTAT may also accelerate platelet recovery post-chemotherapy via inhibition of PF4, a negative regulator of platelet production that impairs platelet recovery following chemotherapy. The company is conducting a randomized, double-blind, placebo-controlled, Phase 2/3 trial to determine the safety and efficacy of DSTAT in adults with severe COVID-19 who are at high risk of respiratory failure. The Phase 2 portion of the study will enroll 24 subjects to confirm the maximum safe dose and will then expand by an additional 50 patients (74 total) at the selected dose. A formal analysis of all endpoints, including supportive biomarkers will be performed at the conclusion of the Phase 2 portion of the study. Contingent upon positive results, the Phase 3 portion of the study will enroll approximately 450 subjects.

    BCV is an antiviral drug candidate in development as a medical countermeasure for smallpox. For further information, please visit the Chimerix website, www.chimerix.com.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include those relating to, among other things, the mechanism of action of DSTAT and its potential in ALI patients with COVID-19; Chimerix's ability to develop DSTAT, including the initiation of a Phase 2/3 clinical trial for DSTAT as a potential treatment for ALI associated with COVID-19; Chimerix's ability to submit and/or obtain regulatory approvals for DSTAT and BCV; and the timing and receipt of a potential procurement contract for BCV in smallpox. Among the factors and risks that could cause actual results to differ materially from those indicated in the forward-looking statements are risks that DSTAT may not achieve the endpoints of the Phase 2/3 clinical trial; risks that DSTAT may not obtain regulatory approval from the FDA or such approval may be delayed or conditioned; risks that development activities related to DSTAT may not be completed on time or at all; Chimerix's reliance on a sole source third-party manufacturer for drug supply; risks that ongoing or future trials may not be successful or replicate previous trial results, or may not be predictive of real-world results or of results in subsequent trials; risks and uncertainties relating to competitive products and technological changes that may limit demand for our drugs; risks that our drugs may be precluded from commercialization by the proprietary rights of third parties; and additional risks set forth in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.

    CONTACT:
    Investor Relations:
    Michelle LaSpaluto
    919 972-7115
     

    Will O'Connor
    Stern Investor Relations

    212-362-1200

    Media Contact
    David Schull
    Russo Partners
    858-717-2310

    Primary Logo

    View Full Article Hide Full Article
  4. RESEARCH TRIANGLE PARK, N.C. , May 19, 2020 (GLOBE NEWSWIRE) -- Asklepios BioPharmaceutical, Inc. (AskBio), a leading, clinical-stage adeno-associated virus (AAV) gene therapy company, today announced the appointment of Tim Trost as Chief Financial Officer. Mr. Trost is a highly accomplished CFO with more than 25 years of experience building, managing and financing emerging life sciences companies.

    Prior to joining AskBio, Mr. Trost most recently served as CFO at Chimerix (NASDAQ:CMRX), where he took the company through its IPO and four follow-on financings. Previous to Chimerix, he was CFO at Argos Therapeutics, a venture-backed immunotherapy company that ultimately also went public. Prior to that, he was CFO at InteCardia, a venture-backed…

    RESEARCH TRIANGLE PARK, N.C. , May 19, 2020 (GLOBE NEWSWIRE) -- Asklepios BioPharmaceutical, Inc. (AskBio), a leading, clinical-stage adeno-associated virus (AAV) gene therapy company, today announced the appointment of Tim Trost as Chief Financial Officer. Mr. Trost is a highly accomplished CFO with more than 25 years of experience building, managing and financing emerging life sciences companies.

    Prior to joining AskBio, Mr. Trost most recently served as CFO at Chimerix (NASDAQ:CMRX), where he took the company through its IPO and four follow-on financings. Previous to Chimerix, he was CFO at Argos Therapeutics, a venture-backed immunotherapy company that ultimately also went public. Prior to that, he was CFO at InteCardia, a venture-backed cardiac imaging company, where he played a key role in negotiating and executing the sale of the company to a NASDAQ-listed entity. Previous to InteCardia, Mr. Trost served as CFO of Coastal Physician Group (NYSE:DR), a contract provider of emergency room physicians, after having joined the company as Vice President of Corporate Development. His earlier career included positions as Vice President of Finance at Morganite North America and Senior Manager at PwC.

    "Tim's financial and strategic leadership experience, as well as his track record of financing clinical-stage biotech companies, will be critical as we enter our next phase of growth that includes expansion of our AAV manufacturing and clinical programs," said Sheila Mikhail, JD, MBA, AskBio CEO. "On behalf of our growing team, I welcome Tim and look forward to his contributions."

    Mr. Trost holds a degree in accounting from the University of Illinois at Urbana-Champaign and is a Certified Public Accountant.

    About AskBio
    Founded in 2001, Asklepios BioPharmaceutical, Inc. (AskBio) is a privately held, clinical-stage gene therapy company dedicated to improving the lives of children and adults with genetic disorders. AskBio's gene therapy platform includes an industry-leading proprietary cell line manufacturing process called Pro10™ and an extensive AAV capsid and promoter library. With global headquarters in Research Triangle Park, North Carolina, and European headquarters in Edinburgh, UK, the company has generated hundreds of proprietary third-generation AAV capsids and promoters, several of which have entered clinical testing. An early innovator in the space, AskBio holds more than 500 patents in areas such as AAV production and chimeric and self-complementary capsids. AskBio has a portfolio of clinical programs across a range of indications that includes therapeutics for Pompe disease, limb-girdle muscular dystrophy 2i/R9 and congestive heart failure, as well as out-licensed clinical indications for hemophilia (Chatham Therapeutics acquired by Takeda) and Duchenne muscular dystrophy (Bamboo Therapeutics acquired by Pfizer). Learn more at https://www.askbio.com or follow us on LinkedIn.

    Contact:
    Robin Fastenau
    Vice President, Communications
    +1 984.275.2705
    

    Primary Logo

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  5. DURHAM, N.C., May 07, 2020 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today reported financial results for the first quarter ended March 31, 2020 and provided an operational update.

    "Responding to the COVID-19 global pandemic, we recently announced our accelerated program for dociparstat sodium (DSTAT) to combat acute lung injury (ALI) in COVID-19 patients," stated Mike Sherman, Chief Executive Officer of Chimerix. "As we've learned more about the manifestations of COVID-19 and how it causes death in the most serious cases, it has become clear that DSTAT's mechanisms may be uniquely positioned to address multiple aspects…

    DURHAM, N.C., May 07, 2020 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today reported financial results for the first quarter ended March 31, 2020 and provided an operational update.

    "Responding to the COVID-19 global pandemic, we recently announced our accelerated program for dociparstat sodium (DSTAT) to combat acute lung injury (ALI) in COVID-19 patients," stated Mike Sherman, Chief Executive Officer of Chimerix. "As we've learned more about the manifestations of COVID-19 and how it causes death in the most serious cases, it has become clear that DSTAT's mechanisms may be uniquely positioned to address multiple aspects of the virus' progression, including ALI and coagulative disorders that have led to a number of other conditions, including amputations, pulmonary embolisms and stroke. As a result, DSTAT has the potential to prevent the disease progression necessitating the use of mechanical ventilation, improve survival and potentially accelerate recovery."

    "Given the urgent need for effective treatments for COVID-19 related ALI, we expect to begin dosing patients in this Phase 2/3 clinical trial this month, with data from the first safety cohort from the Phase 2 portion of the study to be available in the second half of this year. 

    "The COVID-19 pandemic has also highlighted the importance of our global preparedness for a variety of viral outbreaks. Chimerix has been at the forefront of these measures working with the U.S. government to develop brincidofovir (BCV) for smallpox. Preparing BCV for the U.S. Strategic National Stockpile (SNS) is a critical element to protect the population from this deadly virus, whether a potential outbreak occurs naturally or through a bioterror attack. To that end, we were very pleased to receive the U.S. Food and Drug Administration's (FDA) clearance to initiate a rolling New Drug Application (NDA) for BCV as a medical countermeasure for smallpox. We look forward to finalizing our submission mid-year and to a potential procurement contract to enable the addition of BCV to the SNS," added Mr. Sherman.

    Recent Highlights

    • Received clearance from the FDA for a rolling submission of its NDA for the approval of BCV as a medical countermeasure for smallpox
    • Received clearance from the FDA to initiate a Phase 2/3 Study of DSTAT in ALI patients with COVID-19
    • Received clearance from the FDA to initiate a Phase 3 trial of DSTAT in Acute Myeloid Leukemia (AML) based on review of final protocol.

    Expected Upcoming Milestones

    • Completion of NDA submission of BCV mid-2020
    • Completion of Phase 2 portion of DSTAT trial in COVID-19 in second half of 2020
    • Initiation of Phase 3 trial of DSTAT in first line AML
    • Potential procurement agreement for BCV prior to FDA decision on smallpox NDA 
    • FDA decision on BCV smallpox NDA in 2021
    • Completion of manufacturing of approximately $100 million of BCV product for SNS by mid-2021.

    The company previously announced a plan to initiate a Phase 3 clinical study of DSTAT for the treatment of AML in 2020 and has subsequently announced its delay due to the ongoing COVID-19 pandemic.   The Company's current operational focus is on executing the DSTAT study in ALI patients with COVID-19. Next steps on the proposed AML study will be determined in the coming months.

    First Quarter 2020 Financial Results

    Chimerix reported a net loss of $10.4 million, or $0.17 per basic and diluted share, for the first quarter of 2020.  During the same period in 2019, Chimerix recorded a net loss of $17.7 million, or $0.35 per basic and diluted share.

    Revenues for the first quarter of 2020 decreased to $1.2 million, compared to $2.4 million for the same period in 2019.

    Research and development expenses decreased to $8.9 million for the first quarter of 2020, compared to $13.5 million for the same period in 2019.

    General and administrative expenses decreased to $3.2 million for the first quarter of 2020, compared to $7.7 million for the same period in 2019.

    Loss from operations was $10.9 million for the first quarter of 2020, compared to a loss from operations of $18.8 million for the same period in 2019.

    Chimerix's balance sheet at March 31, 2020 included $103.0 million of capital available to fund operations, no debt, and approximately 61.9 million outstanding shares of common stock.  The Company expects to end the year with approximately $70 million in cash and cash equivalents at the end of 2020.

    About Chimerix

    Chimerix is a development-stage biopharmaceutical company dedicated to accelerating the advancement of innovative medicines that make a meaningful impact in the lives of patients living with cancer and other serious diseases. Its two clinical-stage development programs are dociparstat sodium (DSTAT) and brincidofovir (BCV).

    Dociparstat sodium is a potential first-in-class glycosaminoglycan compound derived from porcine heparin that has low anticoagulant activity. In vitro and in vivo animal model data support DSTAT's potential to reduce the inflammation and cellular infiltration associated with acute lung injury and address coagulation disorders associated with COVID-19 pathology (HMGB1 and PF4). Separately, DSTAT inhibits the activities of several key proteins implicated in the viability of AML blasts and leukemic stem cells in the bone marrow during chemotherapy (e.g., CXCL12, selectins, HMGB1, elastase).   Randomized AML Phase 2 data suggest that DSTAT may also accelerate platelet recovery post-chemotherapy via inhibition of PF4, a negative regulator of platelet production that impairs platelet recovery following chemotherapy.  The company is conducting a randomized, double-blind, placebo-controlled, Phase 2/3 trial to determine the safety and efficacy of DSTAT in adults with severe COVID-19 who are at high risk of respiratory failure. The Phase 2 portion of the study will enroll 24 subjects to confirm the maximum safe dose and will then expand by an additional 50 patients (74 total) at the selected dose. A formal analysis of all endpoints, including supportive biomarkers will be performed at the conclusion of the Phase 2 portion of the study. Contingent upon positive results, the Phase 3 portion of the study will enroll approximately 450 subjects.

    BCV is an antiviral drug candidate in development as a medical countermeasure for smallpox. For further information, please visit the Chimerix website, www.chimerix.com.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include those relating to, among other things, the mechanism of action of DSTAT and its potential in ALI patients with COVID-19; Chimerix's ability to develop DSTAT, including the initiation of a Phase 2/3 clinical trial for DSTAT as a potential treatment for ALI associated with COVID-19; Chimerix's ability to submit and/or obtain regulatory approvals for DSTAT and BCV; and the timing and receipt of a potential procurement contract for BCV in smallpox. Among the factors and risks that could cause actual results to differ materially from those indicated in the forward-looking statements are risks that DSTAT may not achieve the endpoints of the Phase 2/3 clinical trial; risks that DSTAT or BCV may not obtain regulatory approval from the FDA or such approval may be delayed or conditioned; risks that development activities related to DSTAT may not be completed on time or at all; risks that Chimerix may not receive a procurement contract for BCV for smallpox in a timely manner or at all; Chimerix's reliance on a sole source third-party manufacturer for drug supply; risks that ongoing or future trials may not be successful or replicate previous trial results, or may not be predictive of real-world results or of results in subsequent trials; risks and uncertainties relating to competitive products and technological changes that may limit demand for our drugs; risks that our drugs may be precluded from commercialization by the proprietary rights of third parties; and additional risks set forth in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.

    CONTACT:
    Investor Relations:                            
    Michelle LaSpaluto
    919 972-7115
     

    Will O'Connor
    Stern Investor Relations
      
    212-362-1200

    Media Contact
    David Schull
    Russo Partners
    858-717-2310
     

     
     
    CHIMERIX, INC.
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except share and per share data)
    (unaudited)
                   
              March, 31   December 31,
                2020       2019  
    ASSETS        
    Current assets:        
      Cash and cash equivalents   $ 24,553     $ 16,901  
      Short-term investments, available-for-sale     78,469       96,574  
      Accounts receivable     1,079       1,233  
      Prepaid expenses and other current assets     2,639       3,385  
        Total current assets     106,740       118,093  
    Property and equipment, net of accumulated depreciation     435       540  
    Operating lease right-of-use assets     578       709  
    Other long-term assets     16       34  
          Total assets   $ 107,769     $ 119,376  
                   
    LIABILITIES AND STOCKHOLDERS' EQUITY        
    Current liabilities:        
      Accounts payable   $ 1,124     $ 2,398  
      Accrued liabilities     5,556       6,830  
        Total current liabilities     6,680       9,228  
    Lease-related obligations     48       196  
          Total liabilities     6,728       9,424  
                           
    Stockholders' equity:                
      Preferred stock, $0.001 par value, 10,000,000 shares authorized at March 31, 2020 and                
        December 31, 2019; no shares issued and outstanding as of March 31, 2020 and     -       -  
        December 31, 2019                
      Common stock, $0.001 par value, 200,000,000 shares authorized at March 31, 2020 and                
        December 31, 2019; 61,930,339 and 61,590,013 shares issued and outstanding as of                
        March 31, 20120 and December 31, 2019, respectively     62       62  
      Additional paid-in capital     780,248       778,693  
      Accumulated other comprehensive (loss) gain, net     (11 )     35  
      Accumulated deficit     (679,258 )     (668,838 )
        Total stockholders' equity     101,041       109,952  
          Total liabilities and stockholders' equity   $ 107,769     $ 119,376  
                   


    CHIMERIX, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (in thousands, except share and per share data)
    (unaudited)
                     
                 Three Months Ended March 31,
                  2020       2019  
    Revenues:        
      Contract revenue   $ 1,171     $ 2,356  
      Licensing revenue     70       -  
        Total revenues     1,241       2,356  
    Operating expenses:        
      Research and development     8,949       13,515  
      General and administrative     3,205       7,686  
        Total operating expenses     12,154       21,201  
          Loss from operations     (10,913 )     (18,845 )
    Other income:        
      Interest income and other, net     493       1,152  
            Net loss     (10,420 )     (17,693 )
    Other comprehensive loss:        
      Unrealized (loss) gain on debt investments, net     (46 )     140  
            Comprehensive loss   $ (10,466 )   $ (17,553 )
    Per share information:        
      Net loss, basic and diluted   $ (0.17 )   $ (0.35 )
      Weighted-average shares outstanding, basic and diluted   61,742,035       50,887,221  
                     

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