Biotech Stock Chimerix (Nasdaq: CMRX) Soars on Acquisition News
March 5, 2025 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas for stock traders, including biotech stocks reports on trading and news for Chimerix (Nasdaq: CMRX), a biopharmaceutical company with a mission to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases. The Company's most advanced clinical-stage development program, dordaviprone, is in development for H3 K27M-mutant glioma. The Company is conducting Phase 1 dose escalation studies of ONC206 to evaluate safety and PK datavK data.
The stock makes the NASDAQ top percentage gainers list on acquisition news today, currently trading at $8.44, up 3.48, gaining 70.16% on volume of over 112 Million shares as of this report. The stock has a day's high of $8.45.
Pharmaceuticals plc (Nasdaq: JAZZ) and Chimerix (Nasdaq: CMRX) today announced the companies have entered into a definitive agreement for Jazz to acquire Chimerix for $8.55 per share in cash, representing a total consideration of approximately $935 million. The transaction has been approved by both companies and is expected to close in the second quarter of 2025.
Chimerix's lead clinical asset is dordaviprone, a novel first-in-class small molecule treatment in development for H3 K27M-mutant diffuse glioma, a rare, high-grade brain tumor that most commonly affects children and young adults. There are no U.S. Food and Drug Administration (FDA)-approved therapies specifically for H3 K27M-mutant diffuse glioma patients; radiation is the most common treatment approach. A New Drug Application (NDA) for accelerated approval of dordaviprone in recurrent H3 K27M-mutant diffuse glioma was recently accepted and granted Priority Review by FDA. FDA has set a target Prescription Drug User Fee Act (PDUFA) action date of August 18, 2025. If approved in the U.S., dordaviprone may be eligible for a Rare Pediatric Disease Priority Review Voucher (PRV). Separately, dordaviprone is being studied in the ongoing Phase 3 ACTION trial, evaluating its use in newly diagnosed, non-recurrent H3 K27M-mutant diffuse glioma patients following radiation treatment, potentially extending this treatment option into the front-line setting.
Full news
https://nance.yahoo.com/news/jazz-pharmaceuticals-acquire-chimerix-further-120000916.html
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