Chimerix chief medical officer Melemed sells $13,798 in stock

In a recent transaction, Allen S. Melemed, the Chief Medical (TASE:PMCN) Officer of Chimerix Inc . (NASDAQ:CMRX), sold 3,065 shares of the company's common stock. The shares were sold at an average price of $4.502, totaling approximately $13,798. The transaction comes as Chimerix trades near its 52-week high of $4.65, with the stock showing remarkable momentum, up over 400% in the past six months. According to InvestingPro analysis, the company currently appears overvalued relative to its Fair Value.

This sale was part of an automatic sell-to-cover arrangement, which was established to cover tax liabilities incurred from the vesting of a restricted stock unit award granted on February 1, 2024. Following this transaction, Melemed holds 152,875 shares of Chimerix directly. While the company maintains a "FAIR" financial health score on InvestingPro, investors should note that it holds more cash than debt on its balance sheet, with a comfortable current ratio of 6.33.

The transaction took place on February 13, 2025, as disclosed in a Form 4 filing with the Securities and Exchange Commission. The shares were sold in multiple transactions, with prices ranging from $4.50 to $4.51. With Chimerix's next earnings report due on March 4, 2025, investors can access comprehensive analysis and 17 additional valuable ProTips through InvestingPro's detailed research reports.

In other recent news, TD Cowen, through its analyst Joseph Thome, outlined ten key biotech catalysts anticipated for 2025, including significant clinical trial data releases and regulatory milestones. Among these, ANAB is set to release Phase II rheumatoid arthritis data for Rosnilimab, while UTHR is extending its Tyvaso treatment to a Phase III idiopathic pulmonary fibrosis program. Other developments include QURE's submission of an accelerated approval application for AMT-130 in Huntington's disease and ALKS's release of Phase II datasets for its orexin candidate '2680.

In the same vein, Chimerix, a biopharmaceutical company, recently submitted a New Drug Application to the U.S. Food and Drug Administration for accelerated approval of dordaviprone (ONC201). This move was highlighted by H.C. Wainwright, which reaffirmed its Buy rating on Chimerix. The firm estimates a potential launch for dordaviprone in the third quarter of 2025.

In addition to these developments, Chimerix has also updated and extended its Officer Severance Benefit Plan for an additional three years from November 12, 2024. This move aligns with corporate governance practices and ensures clear expectations regarding compensation for the company's officers in the event of a severance. These are among the recent developments in the biotech sector that investors should keep an eye on.

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