Chimerix (CMRX) Q4 2024 earnings summary

Executive summary

• FDA accepted NDA for dordaviprone to treat recurrent H3 K27M-mutant diffuse glioma; PDUFA action date set for August 18, 2025.

• Jazz Pharmaceuticals to acquire Chimerix for $8.55 per share in cash, totaling ~$935 million; expected to close in Q2 2025.

• Chimerix continues to advance dordaviprone and ONC206 clinical programs.

Financial highlights

• Q4 2024 net loss was $23.0 million ($0.25/share) vs. $18.2 million ($0.20/share) in Q4 2023.

• Full-year 2024 net loss was $88.4 million ($0.99/share) vs. $82.1 million ($0.93/share) in 2023.

• Q4 2024 R&D expenses rose to $17.7 million from $15.6 million year-over-year; G&A expenses increased to $7.0 million from $5.2 million.

• Full-year 2024 R&D expenses were $74.6 million, up from $68.8 million; G&A expenses decreased to $22.2 million from $24.6 million.

• Cash and investments totaled $140.1 million at year-end 2024; no outstanding debt.

Outlook and guidance

• Preparing for potential commercial launch of dordaviprone, pending FDA approval.

• Anticipates closing of Jazz acquisition in Q2 2025, subject to customary conditions.