Chimerix Q4 Loss Widens - Quick Facts

(RTTNews) - Chimerix Inc. (CMRX) reported that its fourth quarter of 2013 net loss was $8.2 million, or $0.31 per share, compared to net loss of $4.3 million or $3.90 per share in the year ago quarter.

Loss from operations was $8.0 million for the fourth quarter of 2013, compared to a loss from operations of $4.1 million for the same period in 2012. The variance is due primarily to the decrease in revenue related to the BARDA contract along with the increase in general and administrative expenses.

Revenues for the fourth quarter of 2013 decreased to $879,000, compared to $3.6 million for the same period in 2012, due to a decrease in the fourth quarter of 2013 in reimbursable expenses associated with Chimerix's ongoing contract with the Biomedical Advanced Research and Development Authority (BARDA).

Analysts polled by Thomson Reuters expected the company to report a loss of $0.41 per share and revenues of $1.19 million. Analysts' estimates typically exclude special items.

Enrollment of the planned 450 total subjects in Chimerix's Phase 3 SUPPRESS trial of brincidofovir is on track to deliver pivotal data in mid-2015. Positive results from SUPPRESS would be used to support Accelerated Approval of brincidofovir for the prevention of cytomegalovirus (CMV), the first approval of an antiviral for the prevention of CMV in recipients of hematopoietic cell transplants (HCT), also known as bone marrow transplantation.

SUPPRESS's secondary endpoints include clinical events related to other DNA viruses common in HCT recipients, including adenovirus (AdV), BK virus (BKV), HHV-6, and Epstein-Barr virus. Additional endpoints will evaluate bacterial and other opportunistic infections, mortality and measurements of healthcare utilization.