Summary by Moomoo AI
Chimerix reported Q2 2024 revenues of $0.1 million and a net loss of $20.7 million ($0.23 per share), compared to revenues of $26,000 and a net loss of $18.6 million ($0.21 per share) in Q2 2023. Research and development expenses increased to $18.4 million from $16.9 million YoY, while general and administrative expenses remained relatively flat at $4.5 million. The company ended the quarter with $171.5 million in cash and investments.The company continues to advance its Phase 3 ACTION trial evaluating dordaviprone for H3 K27M-mutant diffuse glioma, with interim overall survival data expected in Q3 2025. The trial is enrolling patients across 140 sites in 13 countries. Additionally, Chimerix is pursuing Provisional Registration pathway for dordaviprone in Australia, with potential filing by year-end 2024.The company's second-generation compound ONC206 is progressing through dose escalation trials in CNS tumors, with over 75 patients enrolled to date. On June 27, Chimerix received notice from Nasdaq regarding non-compliance with the $1.00 minimum bid price requirement and has until December 24, 2024 to regain compliance.
