Business briefs, May 10
Chimerix to see ‘significant’ R&D cost increases
DURHAM – Chimerix Inc., the Durham-based company that made national news because of a family’s campaign to get access to the company’s lead experimental antiviral drug to save their son, is expecting “significant” increases in research and development costs 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, according to Tim Trost, Chimerix’s chief financial officer, who made the remarks in a conference call on Friday about the company’s first-quarter results.
The company launched a pilot adenovirus study in March, and enrolled now-8-year-old Josh Hardy as the first patient. The company launched the study after the family made a plea for the company to release the drug, which received national attention.
Data from the pilot are expected to be submitted to the U.S. Food and Drug Administration in the second half of the year, along with the company’s final study design.
In the first quarter, the company reported a net loss of $10.4 million, which is up from a net of $9.1 million in the same quarter last year. The company saw a decrease in revenues from its ongoing drug development contracts with the Biomedical Advanced Research and Development Authority or BARDA, and also saw a 22 percent increase in research and development expenses.
Inaugural Young Science Professionals of RTP meeting scheduled
DURHAM – The first meeting of the Young Science Professionals of RTP will be held at 6:30 p.m. on Monday at Champions Bar in Morrisville.
The goal of the networking group is to empower and equip young scientists of central North Carolina to “enter and exceed in the life science industry,” according to an email from the group’s president and founder Ryan Carris.
Durham to hold landlord training
DURHAM – The City of Durham Neighborhood Improvement Services Department is partnering with the Durham Police Department and other departments to hold a workshop for landlords.
The workshop will aim to help landlords manage their properties and halt illegal activity. It’s being held as part of a monthly workshop series to provide regular training opportunities to help landlords become more effective property managers.
The workshop will be held from 8 a.m. to 5 p.m. Thursday at the department’s main conference room at 807 E. Main St., Suite 2-300. The registration deadline is Tuesday.
The cost to attend is $10 per person and includes workshop materials. Seating is limited. Attendees may pay by check or money order before Tuesday. To download the workshop brochure and registration form, go to the website http://bit.ly/1jE8V4u.
For information, contact Lynwood Best, community engagement manager with the City’s Neighborhood Improvement Services Department, at 919-560-1647, extension 34254, or send an email to firstname.lastname@example.org.