Business briefs, May 20
Chimerix looks to sell more stock
DURHAM – The antiviral drug development firm Chimerix Inc. announced Monday it plans to sell more stock in an underwritten public offering.
The company is offering 6.2 million shares of common stock.
The company anticipates using the net proceeds to fund its research and development efforts and for general corporate purposes, including working capital.
Chimerix was in national news recently because of a family’s campaign to get access to the company’s lead experimental antiviral drug to save their young son.
In a conference call about their first-quarter financial results for the year, company leaders said they’re expecting “significant” increases in research and development costs in this year.
That’s because of costs from the company’s Phase 3 trial testing its lead drug candidate, brincidofovir, to treat cytomegalovirus in bone marrow transplant patients. But it’s also because of the pilot trial testing the drug as a treatment for adenovirus.
The company launched the pilot study in March, and enrolled the now 8-year-old Josh Hardy as the first patient.
Last week, Chimerix announced that Merck decided not to pursue development of one of the Durham-based coompany’s compounds as a possible HIV treatment. Chimerix regained the worldwide rights to the compound.
‘State of the Research Triangle Region’ Thursday
DURHAM – Hundreds of industry and business leaders are expected to gather in Durham Thursday for the 2014 State of Research Triangle Region Event.
The event will be held to release data about why the Research Triangle is a leading region for technology, innovation, research, talent and academia.
The event will be hosted by the Research Triangle Regional Partnership, along with presenting sponsors PNC and the Research Triangle Foundation.
Registration and networking will be from 7 to 8 a.m., and the program will run from 8 to 10 a.m. at the Sheraton Imperial Hotel & Convention Center.