Antiviral developer Chimerix shares fell 7 percent Thursday after the Durham company reported a wider loss in the second quarter.
Chimerix said Thursday its net loss more than doubled to $24.8 million from $11.7 million a year ago as the company ramped up spending on drug research.
At the same time, second-quarter revenues surged to $4.1 million from $919,000 due to an increase of research funding from the federal Biomedical Advanced Research and development Authority. BARDA is funding research to develop a treatment for the national stockpile against a potential bioterror smallpox attack.
Chimerix also said its research and development expenses rose to $21.8 million from $8.1 million.
The 105-employee company is developing an antiviral called brincidofovir to treat and prevent a range of infections that can be fatal to patients with compromised immune systems. The company is in several Phase III clinical trials and is also testing brincidofovir on lab animals.
Chimerix shares closed at $53.16, down $4.27. The stock is up 32 percent this year.