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Chimerix Inc (NASDAQ: NASDAQ:CMRX) stock has reached a new 52-week high, touching $5.17 amidst a remarkable year of growth. InvestingPro data shows the stock is trading just 0.94% below its peak, with technical indicators suggesting overbought conditions. The biopharmaceutical company, known for its antiviral therapies, has seen its stock price surge over the past year, with an impressive 320% increase. While investors have shown increased confidence in Chimerix’s pipeline and commercial strategies, propelling the stock to new heights, InvestingPro analysis reveals the company maintains a strong balance sheet with more cash than debt, despite currently not being profitable. This milestone reflects a significant turnaround for the company, which has been focusing on advancing its treatments through clinical trials and seeking strategic partnerships. With a current ratio of 6.33, the company’s liquid assets well exceed its short-term obligations, though analysts anticipate sales decline in the current year. Discover 15+ additional exclusive insights about CMRX with InvestingPro’s comprehensive research reports.
In other recent news, Chimerix has announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application for dordaviprone, a potential treatment for recurrent H3 K27M-mutant diffuse glioma. This application has been granted Priority Review with a target action date set for August 18, 2025. Chimerix’s Chief Executive Officer, Mike Andriole, emphasized the company’s commitment to expediting the review process and preparing for a potential commercial launch. The drug has received several designations, including Fast-Track and Rare Pediatric Disease Designations, highlighting its potential impact on this aggressive form of brain cancer.
Additionally, H.C. Wainwright has reaffirmed its Buy rating for Chimerix, citing the recent NDA submission as a significant milestone. The firm forecasts a potential launch for dordaviprone in the third quarter of 2025, with projected sales of $6 million for that year. The analyst also mentioned the potential financial impact of a Priority Review Voucher, which has not yet been factored into their financial model. Meanwhile, TD Cowen has identified Chimerix’s dordaviprone submission as a key catalyst to watch in the biotech sector for 2025. These developments indicate a focused effort by Chimerix to address unmet medical needs for patients with this challenging condition.
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