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Chimerix Inc. (CMRX) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net loss of $88.4 million for the year, with an accumulated deficit of approximately $883.9 million. The company continues to focus on developing its lead product candidate, dordaviprone, for the treatment of H3 K27M-mutant diffuse glioma.
Chimerix entered into an Agreement and Plan of Merger with Jazz Pharmaceuticals on March 4, 2025. Jazz has agreed to acquire all outstanding shares of Chimerix at a price of $8.55 per share in cash, representing a total consideration of approximately $935 million.
The company reported total revenues of $0.2 million for the year, primarily from contract and grant revenue. This marks a decrease from $33.8 million in the previous year, which included procurement revenue from the sale of TEMBEXA.
Research and development expenses increased to $74.6 million, driven by costs associated with the clinical development of dordaviprone and other pipeline products.
General and administrative expenses decreased to $22.2 million, reflecting a reduction in compensation expenses.
Interest income and other net was $8.2 million, a decrease from $11.0 million in the previous year, due to lower interest earned on cash balances.
Chimerix continues to rely on third-party manufacturers for the production of its clinical and potential commercial supplies. The company has not yet drawn on its $30 million term loan facility with Silicon Valley Bank.
The company has reserved shares for future issuance under its equity incentive plans, including 20.9 million shares for outstanding stock options and 1.2 million shares for restricted stock units.
Chimerix's cash, cash equivalents, and investments totaled $140.1 million as of December 31, 2024, which the company believes will be sufficient to fund its operations for at least the next 12 months.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Chimerix Inc. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.