Summary by Moomoo AI
Chimerix reported Q3 2024 financial results, with revenue of $26,000 and a net loss of $22.9 million. Research and development expenses increased to $19.6 million, primarily due to the ongoing ACTION Phase 3 trial of dordaviprone in H3 K27M-mutant glioma patients. The company ended the quarter with $152.4 million in capital available to fund operations.The ACTION trial is enrolling patients at over 145 sites globally, with interim overall survival data expected in Q3 2025. Chimerix is also advancing ONC206 in Phase 1 dose escalation trials for CNS tumors. The company received approval for Provisional Determination in Australia, potentially enabling commercial availability of dordaviprone by year-end 2025.Chimerix believes its current cash position will fund operations for at least 12 months. The company is exploring business development opportunities to expand its pipeline. Chimerix also disclosed receiving a Nasdaq notice regarding minimum bid price requirements and is considering options to regain compliance.
