Chimerix Announces Proposed $75,000,000 Public Offering of Common Stock
January 19 2021 - 4:18PM
Chimerix, Inc. (Nasdaq: CMRX), a biopharmaceutical company
focused on accelerating the development of medicines to treat
cancer and other serious diseases, announced today that it intends
to offer and sell, subject to market and other conditions, up to
$75,000,000 of shares of its common stock in an underwritten public
offering. In addition, Chimerix expects to grant the underwriters
a 30-day option to purchase up to an additional
$11,250,000 of shares of common stock. All of the shares to be sold
in the offering are to be sold by Chimerix. There can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Chimerix intends to use the net proceeds from the proposed
offering to fund the clinical development of its product
candidates, commercial pre-launch activities and for general
corporate purposes.
Jefferies and Cowen are acting as joint bookrunning managers for
the offering. H.C. Wainwright & Co. is acting as lead manager
for the offering and JonesTrading is acting as co-manager for the
offering.
The securities described above are being offered by Chimerix
pursuant to a shelf registration statement previously filed and
declared effective by the Securities and Exchange Commission (SEC)
(File No. 333-244146). The securities may be offered only by means
of a prospectus. A preliminary prospectus supplement and
accompanying prospectus relating to this offering will be filed
with the SEC. When available, copies of the preliminary prospectus
supplement and the accompanying prospectus relating to this
offering may be obtained from: Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, by telephone at (877) 821-7388 or by
email at prospectus_department@jefferies.com; or from Cowen and
Company, LLC, c/o Broadridge Financial Solutions, Attention:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone at (833) 297-2926, or by email at
PostSaleManualRequests@broadridge.com. Electronic copies of the
preliminary prospectus supplement and accompanying prospectus will
also be available on the website of the SEC at
http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Chimerix
Chimerix is a development-stage biopharmaceutical company
dedicated to accelerating the advancement of innovative medicines
that make a meaningful impact in the lives of patients living with
cancer and other serious diseases. Our three most advanced
clinical-stage development programs are, brincidofovir (BCV),
ONC201 and dociparstat sodium (DSTAT). BCV is an antiviral drug
candidate developed as a potential medical countermeasure for
smallpox and is currently under review for regulatory approval in
the United States. ONC201 is currently in a registrational clinical
trial for recurrent H3 K27M-mutant glioma and a confirmatory
response rate assessment is expected later this year. DSTAT is in
development as a potential first-line therapy in acute myeloid
leukemia and as a potential treatment for acute lung injury in
COVID-19 patients.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "predicts," "believes," "potential,"
"proposed," "continue," "estimates," "anticipates," "expects,"
"plans," "intends," "may," "could," "might," "will," "should" or
other words that convey uncertainty of future events or outcomes to
identify these forward-looking statements. These statements are
based on the company’s current beliefs and expectations. Such
forward-looking statements include, but are not limited to,
statements relating to the offering, including the timing and size
of the offering and the anticipated use of proceeds therefrom and
the grant of the option to purchase additional shares. The
inclusion of forward-looking statements should not be regarded as a
representation by Chimerix that any of its plans will be
achieved. Many factors may cause differences between current
expectations and actual results, including market conditions and
the satisfaction of customary closing conditions related to the
proposed offering. Actual results may differ from those set forth
in this press release due to the risks and uncertainties inherent
in Chimerix’s business, including, without limitation: the risks
and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
proposed public offering, the risks and uncertainties inherent in
Chimerix’s business, including risks that the current Phase 2
clinical trial data for ONC201 will not support accelerated, or
any, regulatory approval; the anticipated benefits of Chimerix’s
acquisition of Oncoceutics, Inc. may not be realized;
DSTAT and BCV may not obtain regulatory approval from the FDA or
such approval may be delayed or conditioned; risks
that Chimerix will not obtain a procurement contract for
BCV in smallpox in a timely manner or at all; Chimerix’s
reliance on a sole source third-party manufacturer for drug supply;
risks that ongoing or future trials may not be successful or
replicate previous trial results, or may not be predictive of
real-world results or of results in subsequent trials; risks and
uncertainties relating to competitive products and technological
changes that may limit demand for Chimerix’s drugs; risks that
Chimerix’s drugs may be precluded from commercialization by the
proprietary rights of third parties; and the other risks
described in the Chimerix’s prior press releases and the Company’s
filings with the Securities and Exchange Commission (SEC),
including under the heading “Risk Factors” in the Company’s Annual
Report on Form 10-K and any subsequent filings with the
SEC. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and Chimerix undertakes no obligation to update such statements to
reflect events that occur or circumstances that exist after the
date hereof.
CONTACT:Investor
Relations: Michelle
LaSpaluto919 972-7115ir@chimerix.com Will O’ConnorStern
Investor Relations212-362-1200will@sternir.com Media:David
SchullRusso
Partners858-717-2310David.Schull@russopartnersllc.com
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