Chimerix stock soars to 52-week high, hits $3.8

Chimerix Inc (NASDAQ: NASDAQ:CMRX) stock has reached a new 52-week high, touching the $3.8 mark, signaling a significant turnaround for the biopharmaceutical company. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt, though technical indicators suggest the stock is currently in overbought territory. This peak represents a remarkable journey over the past year, with the stock experiencing an impressive 301.61% change. Investors have shown increased confidence in Chimerix's potential, as the company continues to make strides in developing its portfolio of treatments for cancer and other serious diseases. The surge to a 52-week high is a testament to the company's resilience and the market's optimistic outlook on its future prospects. However, InvestingPro analysis reveals the company is currently burning through cash rapidly, with a concerning negative EBITDA of -$92.73M. Discover 13 additional key insights about CMRX with an InvestingPro subscription, including detailed technical analysis and comprehensive financial health metrics.

In other recent news, significant developments have been reported for several biotech firms. TD Cowen, through analyst Joseph Thome, has outlined a series of anticipated catalysts for 2025. These include Phase II rheumatoid arthritis data for Rosnilimab by ANAB, Phase III idiopathic pulmonary fibrosis program by UTHR, and Phase II datasets for orexin candidate '2680 by ALKS.

In the same vein, QURE is working towards submitting an accelerated approval application for AMT-130 in Huntington's disease, and the FDA has agreed to an accelerated approval process for this treatment. Meanwhile, Chimerix has submitted Dordaviprone for accelerated approval and is awaiting a decision from the FDA.

H.C. Wainwright reaffirmed its Buy rating for Chimerix shares, anticipating a potential launch for dordaviprone in the third quarter of 2025. On the other hand, Raymond (NSE:RYMD) James upgraded uniQure (NASDAQ:QURE)'s stock from Outperform to Strong Buy.

These are recent developments, and investors are advised to keep an eye on these significant milestones in the biotech sector.

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