Summary by Moomoo AI
Chimerix reported financial results for Q2 2024, with revenue of $129,000 compared to $26,000 in Q2 2023. Net loss widened to $20.7 million from $18.6 million year-over-year. R&D expenses increased 8.9% to $18.4 million, primarily for ONC206 development and compensation costs.The company continues to advance its Phase 3 ACTION trial for dordaviprone in H3 K27M-mutant glioma, with interim overall survival data expected in Q3 2025. Chimerix is also pursuing potential accelerated approval pathways, including Provisional Registration in Australia. ONC206 dose escalation studies have enrolled over 75 patients with no dose-limiting toxicities reported to date.As of June 30, 2024, Chimerix had $171.5 million in capital available. The company believes its cash position will fund operations for at least 12 months, but is exploring additional financing options. Chimerix must regain Nasdaq listing compliance by December 24, 2024 after its stock price fell below $1.00 for 30 consecutive business days.
