Summary by Moomoo AI
Chimerix reported Q3 2024 revenues of $26,000 and a net loss of $22.9 million ($0.26 per share), compared to revenues of $11,000 and a net loss of $24.0 million ($0.27 per share) in Q3 2023. Research and development expenses increased to $19.6 million from $17.4 million YoY, primarily due to costs related to the Phase 3 ACTION study of dordaviprone and manufacturing expenses.The company continues to advance its Phase 3 ACTION trial evaluating dordaviprone for H3 K27M-mutant diffuse glioma, with over 145 sites now enrolling patients across 15 countries. A recent Independent Data Monitoring Committee safety review recommended the study continue as planned. Management expects interim overall survival data to be available in Q3 2025.As of September 30, 2024, Chimerix maintained a strong financial position with $152.4 million in capital available to fund operations. The company is also pursuing potential approval pathways in Australia, having received Provisional Determination approval in August 2024 and Orphan Drug Designation in September 2024. The company continues development of second-generation compound ONC206, with dose escalation studies expected to complete in 2024.
