Cardiff Oncology shares plunge after Q2 earnings miss
Chimerix Inc . (NASDAQ:CMRX) stock has reached a remarkable milestone, soaring to a 52-week high of $8.53 USD. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt and a strong current ratio of 5.7x. This peak reflects a significant surge in investor confidence and market performance for the biopharmaceutical company. Over the past year, Chimerix has seen an extraordinary 719.71% increase in its stock value, indicating a robust turnaround and heightened investor interest in the company’s growth prospects and pipeline developments. Technical indicators from InvestingPro suggest the stock is currently in overbought territory, and analysis indicates the stock is trading above its Fair Value. This impressive one-year change showcases the company’s potential and the market’s optimistic outlook on its future, though investors should note that analysts expect sales growth but don’t anticipate profitability this year. Get access to 13 additional exclusive ProTips and comprehensive analysis through InvestingPro’s detailed research reports.
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 aligns with Jazz’s strategy to strengthen its presence in rare oncology and involves Chimerix’s lead clinical asset, dordaviprone, which is under FDA Priority Review for treating H3 K27M-mutant diffuse glioma. The FDA has set a Prescription Drug User Fee Act (PDUFA) target action date for dordaviprone of August 18, 2025. Chimerix CEO Mike Andriole expressed the company’s commitment to expediting the review process and preparing for a potential commercial launch. The drug has received several designations, including Rare Pediatric Disease and Orphan Drug Designations in multiple regions. In related developments, TD Cowen has highlighted Chimerix’s submission of dordaviprone for accelerated approval as a significant 2025 biotech catalyst. Guggenheim Securities and Wachtell, Lipton, Rosen & Katz are advising Jazz, while Centerview Partners LLC and Skadden, Arps, Slate, Meagher & Flom LLP are advising Chimerix.
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