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Stock Market & Financial Investment News

News Breaks
May 21, 2014
06:05 EDTCMRXChimerix 7.3M share Secondary priced at $14.22
The deal size was increased to 7.3M shares from 6.2M shares. Morgan Stanley and JPMorgan acted as joint book running managers for the offering.
News For CMRX From The Last 14 Days
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February 8, 2016
14:07 EDTCMRXChimerix says brincidofovir met endpoint in animal trial for smallpox
Chimerix presented what it called "positive results" from a pivotal study of its antiviral, brincidofovir, in an animal model for smallpox. The study met its primary endpoint of clinically and statistically significant reduction in mortality for brincidofovir-treated animals compared with animals that received placebo. At the time of detection of fever, a clinical indication of confirmed infection, animals were randomized to receive placebo or brincidofovir administered immediately or after a 24, 48, or 72 hour delay. Animals that received brincidofovir immediately had 100% survival, and animals that received brincidofovir after a 24 or 48 hour delay had a 93% survival, statistically significant improvements compared with less than 50% survival in animals that received placebo, the company said. Treatment with brincidofovir begun immediately or following a 24 or 48 hour delay resulted in an immune response and a reduction in the amount of virus in the blood. These effects in the brincidofovir-treated animals may decrease the spread of infection between animals, and if confirmed in humans, brincidofovir may decrease person-to-person transmission of smallpox in a bioterror event. The pivotal smallpox study was conducted under the FDA's Animal Efficacy Rule, which allows for testing of investigational drugs in animal models to support effectiveness in diseases which are not ethical or feasible to study in humans. The brincidofovir doses used in this animal study were scaled to equivalent doses used in the clinical trials of brincidofovir for CMV and adenovirus in humans. Final data from the rabbitpox study together with efficacy data from a mouse model of smallpox will be submitted to the FDA for discussion of next steps, Chimerix added.
February 4, 2016
06:56 EDTCMRXChimerix shares continue to trade near cash, says Citi
Citi analyst Yigal Nochomovitz points out that Chimerix continues to trade near the company's cash position of around $7 per share. In a research note titled "Don't Throw the Baby (Brincidofovir in Kidney Transplant) Out With the Bathwater (SUPPRESS Blow-Up)," Nochomovitz says the Street has left brincidofovir "for dead" following the failed Phase 3 trial in bone marrow transplant. The drug, however, is still in Phase 3 testing for kidney transplant, the analyst tells investors. He sees potential for the Chimerix story to turn around as the kidney transplant opportunity comes into focus. Nochomovitz keeps a Buy rating on the name with a $19 price target.

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