Durham-based Chimerix files for proposed IPO
Chimerix Inc., a company that is working to develop oral antiviral therapeutics, has filed a registration statement to raise a proposed $85 million through an initial public offering.
The company has two potential products in clinical trials, according to the filing with the U.S. Securities and Exchange Commission.
Its lead product candidate is a clinical-stage compound that’s designed to block replication of double-stranded DNA viruses, including cytomegalovirus, which is one of the herpesviruses, as well as adenovirus, BK virus and herpes simplex virus.
Its second product candidate, CMX157, is in Phase 1 development for the treatment of HIV infection. In July of last year, the company granted a license to Merck for development and commercialization of the candidate.
Incorporated in April of 2000, the company does not have any approved products for sale, and has funded its operations using private placement of preferred stock, government grants and contracts, loans, and $17.5 million through the collaboration and license agreement with Merck.
The company said in the filing that it has seen net losses each year since its founding, and expects to continue to see significant expenses and increasing operating losses for at least the next several years.
The company has executive offices in Durham on Meridian Parkway. As of Dec. 31 of last year, it employed 46 people full-time.
The number of shares to be offered and the price range for the company’s proposed initial public offering have not been determined, according to a news release.