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Chimerix Inc (NASDAQ: NASDAQ:CMRX) stock has reached a remarkable milestone, soaring to a 52-week high of $8.47. With a market capitalization of $761 million, this peak reflects a significant surge in the biopharmaceutical company’s market performance, marking a substantial turnaround from its previous positions. According to InvestingPro analysis, the stock appears overvalued at current levels, with technical indicators suggesting overbought conditions. Over the past year, Chimerix has witnessed an extraordinary growth of 623%, with particularly strong momentum showing an 889% surge in the past six months. While this indicates robust recovery and strong investor confidence, InvestingPro data reveals the company maintains a healthy balance sheet with more cash than debt and a current ratio of 6.33, though analysts anticipate sales challenges in the current year. For deeper insights into CMRX’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Jazz Pharmaceuticals (NASDAQ:JAZZ) has announced a definitive agreement to acquire Chimerix for approximately $935 million, with the transaction expected to close in the second quarter of 2025. This acquisition includes Chimerix’s lead clinical asset, dordaviprone, which is under Priority Review by the FDA with a target action date set for August 18, 2025. Dordaviprone is being developed as a treatment for H3 K27M-mutant diffuse glioma, a rare brain tumor. Chimerix has received several designations for dordaviprone, including Rare Pediatric Disease and Fast-Track Designations, as well as Orphan Drug Designation in multiple regions.
Analyst firm H.C. Wainwright has reaffirmed its Buy rating on Chimerix stock, citing the potential for a third-quarter 2025 launch of dordaviprone, also known as ONC201. The firm maintains a price target of $11.00, highlighting the drug’s potential market impact. TD Cowen has also noted Chimerix’s submission for accelerated approval of dordaviprone as a key catalyst for 2025.
Chimerix’s CEO expressed the company’s commitment to working with the FDA to expedite the review and prepare for a potential commercial launch. Jazz Pharmaceuticals plans to leverage its research and development capabilities to advance dordaviprone’s clinical trial program. Meanwhile, Chimerix shareholders are set to receive a 72% premium as part of the acquisition deal.
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