Chimerix may sell up $200 million in additional shares

05/02/2014 10:32 AM

05/02/2014 10:34 AM

Chimerix may sell up to $200 million in additional shares in one or more offerings, the company reported in a regulatory filing late Thursday.

The so-called “shelf” registration process allows the Durham drugmaker to sell any combination of securities for a total sum of $200 million. Thursday’s filing was a general description of the securities that may be offered, but the company is required to make additional regulatory filings about the specific terms of any of the future stock sales.

Chimerix abruptly changed CEOs last month, about a month after the company drew national attention for initially withholding its experimental drug from a critically ill child. Chimerix later reached a deal with the U.S. Food and Drug Administration on a pilot study to provide the drug brincidofovir to the child and 20 others in his situation.

Brincidofovir is designed to prevent potent virus infections without debilitating side effects.

In announcing its new CEO, M. Michelle Berrey, last month Chimerix emphasized that it is focused on winning rapid regulatory approval for the antiviral drug. Berrey is also the company's chief medical officer, a role she assumed in 2012.

Chimerix shares, which opened at $19.03, were down 13 cents in morning trading Friday. The stock is up 25 percent this year.

Chimerix is scheduled to report its first-quarter earnings on May 9.

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