Summary by Moomoo AI
Chimerix reported a net loss of $88.4 million for 2024 compared to a net loss of $82.1 million in 2023. The company ended the year with $140.1 million in capital available to fund operations. Research and development expenses increased to $74.6 million from $68.8 million in 2023, primarily due to higher costs related to the Phase 3 ACTION study of dordaviprone and development of ONC206.The FDA has accepted Chimerix's New Drug Application for dordaviprone in recurrent H3 K27M-mutant diffuse glioma with Priority Review and a PDUFA date of August 18, 2025. The Phase 3 ACTION study continues to enroll patients across 18 countries, with interim overall survival data expected in 2026. The company has also made progress with ONC206, completing dose escalation studies in over 100 patients.On March 4, 2025, Chimerix entered into a definitive merger agreement with Jazz Pharmaceuticals, under which Jazz will acquire Chimerix for $8.55 per share in cash, representing a total consideration of approximately $935 million. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions including tender of a majority of Chimerix's outstanding shares.
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