Chimerix seeks to sell 6.2 million shares

Posted by David Bracken on May 20, 2014 

Chimerix shares were down about 8 percent in early trading Tuesday after the Durham company announced plans to sell 6.2 million shares in a stock offering.

The underwriters of the sale also have the option to purchase 930,000 additional shares.

Chimerix reported in a regulatory filing earlier this month that it planned to sell any combination of securities for a total sum of $200 million. At the company’s current stock price, the sale of 6.2 million shares would raise nearly $95 million.

The company plans to use the money to fund its research and development efforts and for corporate purposes. Chimerix recently launched a pilot study to provide its drug brincidofovir to 21 patients. Brincidofovir is designed to prevent potent virus infections without debilitating side effects.

Chimerix shares, which opened at $16.82 Tuesday, were down $1.52 in early trading.

News & Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service