Chimerix reported a larger net loss in the second quarter as the Durham company’s research and development costs jumped 169 percent.
Chimerix had a loss of $24.8 million, or 59 cents per share, compared with a loss of $11.7 million, or 39 cents per share, during the same period last year.
Research and development expenses totaled $21.8 million in the quarter, up from $8.1 million.
Chimerix’s lead drug candidate, brincidofovir, is being tested for prevention of cytomegalovirus infection in bone marrow transplant recipients and also for the treatment of adenovirus infections in immuno-compromised patients.
Chimerix had revenue of $4.1 million during the quarter, compared with $900,000 during the second quarter of 2014.
The increase was due to higher payments from a federal research contract with the Biomedical Advanced Research and Development Authority and deferred revenue from the company’s licensing agreement with ContraVir Pharmaceuticals.
In June, Chimerix raised $173 million through a stock sale.
The money is to be used to finance Phase 3 trials of brincidofovir in kidney transplant recipients, to expand manufacturing capabilities and other purposes.
Chimerix had $404.3 million in capital available at the end of June.
The company’s shares closed Monday at $53.70, up 86 cents. The stock is up 33 percent this year.