The following is a summary of the Chimerix, Inc. (CMRX) Q1 2024 Earnings Call Transcript:
Financial Performance:
The balance sheet at the end of March 2024 reported a $188.2 million available capital with no outstanding debt; the four-quarter burn rate by end of Q1 2024 was $58 million.
Chimerix posted a net loss of $21.9 million, or $0.25 per basic and diluted share in Q1 2024 versus a net loss of $21.4 million, or $0.24 per basic and diluted share in Q1 2023.
R&D expenses for Q1 2024 were $18.8 million, which is flat compared to Q1 2023. General and administrative expenses decreased to $5.5 million in Q1 2024 from $5.7 million in Q1 2023.
Business Progress:
Chimerix is making headway with its Phase 3 ACTION study on H3 K27M-mutant glioma aiming for its first interim readout next year.
The company is assessing global registration avenues to expedite commercial access to the drug, dordaviprone (ONC201).
A pre-submission meeting to explore eligibility for provisional registration in Australia is being pursued owing to interest shown by the Therapeutic Goods Administration.
Despite the ongoing Phase 1 safety studies for the second-generation imipridone ONC206, the company is developing strategies and preparing to invest in Phase 2.
Chimerix is preparing to apply for provisional registration with the Australian TGA, leading to a potential commercial availability by 2026.
Preliminary safety and pharmacokinetic data for ONC206 is expected to be reported in the summer of 2024.
Commercial authorization in Australia could potentially be attained by the end of 2024, with expected commercial availability by 2026.
More details: Chimerix IR
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