The following is a summary of the Chimerix, Inc. (CMRX) Q3 2024 Earnings Call Transcript:
Financial Performance:
Chimerix reported a net loss of $22.9 million for Q3 2024, an improvement from a net loss of $24 million in Q3 2023.
R&D expenses increased to $19.6 million, primarily due to spending in the ACTION study.
G&A expenses decreased to $5.2 million, down from $9.3 million due to a one-time non-cash expense related to historical grants recognized in 2023.Chimerix ended the quarter with $152 million in cash and cash equivalents, maintaining a cash runway into Q4 2026.
Business Progress:
Phase 3 ACTION study of Dordaviprone nearing complete enrollment; interim results expected within a year.
Positive interim safety review from the independent Data Monitoring Committee for ACTION study.
Plans to file an NDA for provisional approval in Australia by year-end, with a potential U.S. launch following.
Preparations underway for potential commercialization of Dordaviprone, anticipating significant market uptake.
Phase 1 dose escalation studies for ONC206 nearing completion with next steps to be announced soon.
Opportunities:
Anticipated rapid uptake and significant market opportunity for Dordaviprone, with a potential global market over $750 million.
Risks:
The global Phase 3 ACTION study's success is pivotal for future regulatory approvals and Dordaviprone's market potential.
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