The following is a summary of the Chimerix, Inc. (CMRX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• The balance sheet at the end of March 2024 reported a $188.2 million available capital with no outstanding debt; the four-quarter burn rate by end of Q1 2024 was $58 million.

• Chimerix posted a net loss of $21.9 million, or $0.25 per basic and diluted share in Q1 2024 versus a net loss of $21.4 million, or $0.24 per basic and diluted share in Q1 2023.

• R&D expenses for Q1 2024 were $18.8 million, which is flat compared to Q1 2023. General and administrative expenses decreased to $5.5 million in Q1 2024 from $5.7 million in Q1 2023.

Business Progress:

• Chimerix is making headway with its Phase 3 ACTION study on H3 K27M-mutant glioma aiming for its first interim readout next year.

• The company is assessing global registration avenues to expedite commercial access to the drug, dordaviprone (ONC201).

• A pre-submission meeting to explore eligibility for provisional registration in Australia is being pursued owing to interest shown by the Therapeutic Goods Administration.

• Despite the ongoing Phase 1 safety studies for the second-generation imipridone ONC206, the company is developing strategies and preparing to invest in Phase 2.

• Chimerix is preparing to apply for provisional registration with the Australian TGA, leading to a potential commercial availability by 2026.

• Preliminary safety and pharmacokinetic data for ONC206 is expected to be reported in the summer of 2024.

• Commercial authorization in Australia could potentially be attained by the end of 2024, with expected commercial availability by 2026.

More details: Chimerix IR

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