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Chimerix, Inc. (CMRX)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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1.8100+0.0600 (+3.43%)
At close: 04:00PM EDT
1.8900 +0.08 (+4.42%)
Pre-Market: 06:20AM EDT
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  • C
    Cosco
    Looking at the 13f filings most institutions increased their holdings as of March 31, 2022. As the price and volume indicate they are furious with the complete change in drug development and Tembexa sale. This summarizes their sentiment and mine as well:

    Last year, Chimerix acquired Oncoceutics and its lead asset, ONC201, for $78 million with hopes it would quickly earn approval to treat brain tumors. Today the company admitted to investors the potential for accelerated approval of ONC201 is more challenging than anticipated. This means Chimerix and its shareholders are on the hook for a long and expensive phase 3 trial that will burn through the proceeds of the Tembexa sale long before they will know whether ONC201 has a chance at eventually earning approval.

    Congress has been placing pressure on the FDA's accelerated approval program because confirmatory trials are proving the drugs should not have been approved in the first place especially one arm studies as conducted with ONC201. Faced with this change in the FDA stance it's possible a P3 trial will be required with more participants using a placebo which may be a challenge; management punted, raising as much cash as possible to finance a P3 placebo controlled with overall survival which could take at least four years.
  • c
    cc
    Let’s review the latest position of the company. Comments are welcome

    Pros:
    - Strong cash position
    - FDA is not rejecting onc201, but voiced opinion based on conservative view on the drug
    - p3 will be quick per transcript

    Cons
    - single pipeline
    - hard to form an opinion on onc201 success until we have p3 details
    - no news on cmx521
    - need to find buyer for dstat
  • J
    Jim
    Insider buys 10,000 shares
    https://ir.chimerix.com/node/13761/html
  • a
    alvin
    Mike A and Martha Demski both picked up shares since Monday’s update.
  • T
    Tbone
    So glad Cosco is going to shareholder meeting. Along with his DOD contractor wife, they should be able to get our questions answered. Lets get together and provide questions for Cosco to ask. Everyone should post questions, cosco will be sure to ask. He won't let us donw.
  • C
    Cosco
    Analyst revised price targets in

    HC Wainwright. $11
    Cowen. $10
    Maxim. $6

    Average $9
  • T
    Tbone
    @Cosco
    when you go shareholder meeting, please bring your wife. Being a gov contractor for DOD, she will be able to ask Mike good questions. also you talked her into buying a lot of shares that are now way in the red so she should be motivated.
  • T
    Tbone
    With my job loss and now this stock crash, I am in rough shape. Should of known better. Listening to other posters who claim to be a professor, DOD instructor, government contractors, is not wise and I should of known better.
  • F
    Felueisoc
    🚀CRMX will go up 850% tomorrow.... (just thought I'd add to the ridiculous predictions here...). It most likely will come back a bit 🚀PED (Oil) massive Earnings Jump, 300% EPS up, Doubled up revenue. Take a chance
    Bullish
  • j
    joe
    First time posting. I am down bigly on an overweight position. I understand the company’s position: raising cash in this environment is critical. Onc-202 was always the crown jewel since it was acquired. It has a unique mechanism and has proven effect. Tembrexa was meant to support its development while DSTAT was a long shot; it’s trial was designed to get a sneak peek and decide to go or cut bait. It’s understandable to let it go given the crowded AML market and the fact that glycomimetics has a more advanced drug targeting blast stem cells. Clearly, Sherman views ONC 201 as solid candidate; I trust his analysis. They have secured funding to see onc 201 through for better or worse. The problem is that it barely got to 20% ORR and they need to at least match this in their phase 3. They seem confident that a tight phase 3 trial will match the phase 2. It’s all up to onc-202 as it always was
  • J
    Jad
    Does no one else see the potential for their smallpox antiviral being stocked up as a precaution for monkeypox?
  • T
    Tbone
    It would be nice if Mike and Mike stepped up and bought some shares in the open mkt, along with the board...and not token shares...some substantial shares
  • T
    Tom
    Today's Cosco/Bruce hilarity is an oldy but a funny one. It relates to his claims that he made over 600k investing in ECYT and yet he had owned PGNX instead. Remember, ECYT sold out to Novartis for 2.1 billion and of course the stock price skyrocketed on the day of the announced sale. So, if you didn't own ECYT prior to the sale announcement you missed out and of course the Wharton professor owned a different stock. Poor Bruce/Cosco had owned the competitor (PGNX) all along and missed out.

    The following is today's Cosco repost. Enjoy!!

    Cosco
    $PGNX conversation
    @Elroy You're correct. It was definitely a coup for ECYT. I wish I had bought it instead of PGNX.
  • C
    Cosco
    The more I read the CC notes the more I realize Sherman was most likely blindsided with the FDA's changed stance on natural disease history considering the FDA had agreed to it. In today's environment where biotechs have been decimated cash in the bank is KING. I've read up on EBS and with 2500 employees, $1.76B in revenue and $150M in net income they are much better qualified to pursue and obtain international Tembexa sales.

    Just got my proxies and I'm attending the shareholder meeting and voting my shares in person. Holding off selling any shares at this point but at some point, will need some losses to offset profits I made with my LNTH holdings.
  • W
    Wei
    This is actually absolutely a good news.

    It really does not take a genius to easily drive the price to $9 per share.

    Why, simply financial engineering.

    I will easily use $80 cash to buy back 50 million shares. At that point, and assume another $270 m coming, and net $50 m on hand. I will just cancel the cancer program. That will given back to shareholders about $9 per share net cash proceeds. The management will benefit too from extremely low option price.

    Who is going to blame them. Market is stupid today.
  • T
    Terminal Gravity
    Adjusted to $10 and $11 price targets by Cowen and HC Wainwright who reiterated a Buy. Selling yesterday was way overdone. Looking for a hard bounce this week as company is effectively trading below cash with $220M closing soon + existing cash on hand.
    Bullish
  • T
    Tbone
    As everyone knows, I am not the best poster of the bunch but I do try. This year has been way too stressful for me (job loss, stock losses). I still believe in CMRX.
  • M
    Michael C
    That was a very disheartening call. The CMRX mgmt has been so overtly promotional in their prior statements that I'm now having difficulty assigning any credibility. To completely abandon the DSTAT trial and pull it out of their listed pipeline suggests that trial enrollments were being affected by more than covid related shortages at hospitals. Pairing this with the Tembexa news AND the ONC201 delays is making it hard to breath.

    No mention of any advancement or phase 1 study for CMX521 which if effective CAN receive an EUA and would certainly be fast tracked as Covid 19 is here to stay. Why wouldn't they want to provide some hope or insight? At this point it's all on ONC201 or nothing and that's not a 2023 approval. They won't have the study ready for enrollment until the 3rd or 4th qtr and then you have to enroll and wait at least a year to get any indication as the median response was about 11 months. If we're lucky ONC201 is a 2024 approval but barring rapid CMX521 advancement or FDA indications on ONC201 this stock is going to languish for a while.
  • a
    alvin
    Upcoming presentations:

    Josh Allen, Ph.D., Chief Technology Officer of Imipridones, will participate in a panel discussion hosted by Maxim Group. The event, “Exploring New Targets for Pediatric Brain Cancer,” will take place on Thursday, May 19, 2022 at 9:00 a.m. ET.

    Mike Sherman, Chief Executive Officer, will present a pre-recorded corporate presentation at the H.C. Wainwright Global Investment Conference made available on Tuesday, May 24, 2022 at 7:00 a.m. ET.
  • T
    Tbone
    How can the FDA require a placebo trial.....so you are going to put these kids/adults on a placebo for 6 months....you have F'ed them all......I am pure insane now and I hope these DIPG groups attack...if you can approve a shot that barely works, then yo ucan approve a drug that has very limited side effects and is actually showing great help to this patient population...again, the gov't being ridiculous and wrong as usual. I feel for the parents who get their kids into this P3 trial and then they find out their kid is on a placebo....#$%$
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