Filed Pursuant to Rule 424(b)(5)
Registration No. 333- 244146
The information in this
preliminary prospectus supplement and the accompanying prospectus is not complete and may be changed. A registration statement
relating to the securities has been declared effective by the Securities and Exchange Commission. This preliminary prospectus supplement
and the accompanying prospectus are not an offer to sell these securities and are not soliciting offers to buy these securities
in any jurisdiction where the offer or sale is not permitted.
SUBJECT
TO COMPLETION, DATED JANUARY 19, 2021
PRELIMINARY PROSPECTUS SUPPLEMENT
(to Prospectus dated August 17, 2020)
$75,000,000
Common
Stock
We are offering $75,000,000 of shares of our common stock
in this offering.
Our common stock is listed on The Nasdaq Global Market
under the symbol “CMRX.” On January 15, 2021, the last reported sale price of our common stock on The Nasdaq
Global Market was $7.94 per share. Based on an assumed public offering price of $7.94 per share, the last reported sale price
of our common stock on the Nasdaq Global Market on January 15, 2021, we would expect to offer 9,445,843 shares hereby.
Investing in our common stock involves a high degree of risk.
Please read “Risk Factors” beginning on page S-7 of this prospectus
supplement, on page 4 of the accompanying prospectus and the documents incorporated by reference into this prospectus
supplement.
Neither the Securities and Exchange Commission nor any state
of securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
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Per Share
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Total
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Public Offering Price
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$
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Underwriting Discounts and Commissions(1)
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Proceeds to Us Before Expenses
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Proceeds to Underwriters, Before Expenses
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(1)
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See “Underwriting” for a description of the compensation payable to the underwriters.
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Delivery of the shares of common stock is expected to be
made on or about January, 2021. We have granted
the underwriters an option for a period of 30 days to purchase an additional $11,250,000 of shares of our common stock. If
the underwriters exercise the option in full, the total underwriting discounts and commissions payable by us will be
$ , and the total proceeds to
us, before expenses, will be
$ .
Joint Book-Running
Managers
Lead Manager
H.C. Wainwright & Co.
Co-Manager
JonesTrading
Prospectus Supplement dated January ,
2021
TABLE OF CONTENTS
Neither we nor any of the underwriters have authorized anyone
to provide information different from that contained in this prospectus supplement. When you make a decision about whether to invest
in our common stock, you should not rely upon any information other than the information in this prospectus supplement. Neither
the delivery of this prospectus supplement nor the sale of shares of our common stock means that information contained in this
prospectus supplement is correct after the date of this prospectus supplement. This prospectus supplement is not an offer to sell
or solicitation of an offer to buy shares of our common stock in any circumstances under which the offer or solicitation is unlawful.
ABOUT THIS PROSPECTUS SUPPLEMENT
This prospectus supplement and the accompanying prospectus dated
August 17, 2020, are part of a registration statement that we filed with the Securities and Exchange Commission, or SEC, utilizing
a “shelf” registration process. This prospectus supplement and the accompanying prospectus relate to the offer by us
of shares of our common stock to certain investors. We provide information to you about this offering of shares of our common stock
in two separate documents that are bound together: (1) this prospectus supplement, which describes the specific details regarding
this offering; and (2) the accompanying prospectus, which provides general information, some of which may not apply to this
offering. Generally, when we refer to this “prospectus,” we are referring to both documents combined. If information
in this prospectus supplement is inconsistent with the accompanying prospectus, you should rely on this prospectus supplement.
However, if any statement in one of these documents is inconsistent with a statement in another document having a later date—for
example, a document incorporated by reference in this prospectus supplement or the accompanying prospectus—the statement
in the document having the later date modifies or supersedes the earlier statement as our business, financial condition, results
of operations and prospects may have changed since the earlier dates. You should read this prospectus supplement, the accompanying
prospectus, the documents and information incorporated by reference in this prospectus supplement and the accompanying prospectus,
and any free writing prospectus that we have authorized for use in connection with this offering when making your investment decision.
You should also read and consider the information in the documents we have referred you to under the headings “Where You
Can Find More Information; Information Incorporated by Reference.”
You should rely only on information contained in or incorporated
by reference into this prospectus supplement and the accompanying prospectus. We have not, and the underwriters have not, authorized
anyone to provide you with information that is different. We are offering to sell and seeking offers to buy shares of our common
stock only in jurisdictions where offers and sales are permitted. The information contained in this prospectus supplement, the
accompanying prospectus, the documents and information incorporated by reference in this prospectus supplement and the accompanying
prospectus, and any free writing prospectus that we have authorized for use in connection with this offering are accurate only
as of their respective dates, regardless of the time of delivery of this prospectus supplement or of any sale of our common stock.
In this prospectus supplement, unless the context otherwise
indicates, the terms “Chimerix,” the “Company,” “we,” “our” and “us”
or similar terms refer to Chimerix, Inc. and its subsidiaries.
Chimerix, the Chimerix logo, and other trademarks or service
marks of Chimerix appearing in this prospectus are the property of Chimerix. This prospectus supplement and the accompanying prospectus
also includes trademarks, tradenames and service marks that are the property of other organizations. Use or display by us of other
parties’ trademarks, trade dress or products is not intended to and does not imply a relationship with, or endorsements or
sponsorship of, us by the trademark or trade dress owner. Solely for convenience, trademarks and tradenames referred to in this
prospectus appear without the ® and ™ symbols,
but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable
law, our rights or that the applicable owner will not assert its rights, to these trademarks and tradenames.
PROSPECTUS SUPPLEMENT SUMMARY
The items in the following summary are described in more
detail later in this prospectus supplement and in the accompanying prospectus. This summary provides an overview of selected information
and does not contain all the information you should consider before investing in our common stock. Therefore, you should read the
entire prospectus supplement, the accompanying prospectus and any free writing prospectus that we have authorized for use in connection
with this offering carefully, including the “Risk Factors” section, and other documents or information included or
incorporated by reference in this prospectus supplement and the accompanying prospectus before making any investment decision.
Chimerix, Inc.
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 (AML) and as a
potential treatment for acute lung injury (ALI) in COVID-19 patients.
On January 7, 2021, we acquired Oncoceutics, Inc., a
privately-held, clinical-stage biotechnology company developing imipridones, a novel class of compounds. Oncoceutics’
being evaluated in a registrational program lead product candidate, ONC201, has selectively induced cell death in multiple
cancer types in clinical trials. ONC201 is currently for recurrent H3 K27M-mutant glioma and
a response rate assessment of the registrational cohort is expected in 2021.
Our pipeline, as of the date of this prospectus supplement
is illustrated below.
Recent Developments
Dociparstat for the Treatment of Acute Lung Injury (ALI)
in COVID-19 Patients
In April 2020, we announced the initiation of a Phase 2/3 study
of DSTAT in patients with acute lung injury (ALI) from COVID-19. The study is a 1:1 randomized, double-blind, placebo-controlled,
Phase 2/3 trial to evaluate the safety and efficacy of DSTAT in adults with severe COVID-19 who are at high risk of respiratory
failure. Eligible subjects will be those with confirmed COVID-19 who require hospitalization and supplemental oxygen therapy.
The primary endpoint of the study is the proportion of subjects who survive and do not require mechanical ventilation through day
28. Additional endpoints include time to improvement as assessed by the National Institute of Allergy and Infectious Disease ordinal
scale, time to hospital discharge, time to resolution of fever, number of ventilator-free days, all-cause mortality, and changes
in key biomarkers (e.g. IL-6, TNF-α, HMGB1, C-reactive protein and d-dimer).
The Phase 2 portion of the study will enroll 24 subjects (12
subjects in each of 2 cohorts with different doses) to determine the maximum tolerated dose and will then expand to a third cohort
consisting of an additional 50 patients (74 total) at the selected dose. A formal analysis of all endpoints, including supportive
biomarkers will be performed at the conclusion of the Phase 2 portion of the study. Contingent upon positive results from the Phase
2 portion, the Phase 3 portion of the study will enroll approximately 450 subjects. The first cohort of 12 subjects has completed
enrollment and dosing. In December 2020, the independent data safety monitoring board, following a review of preliminary data from
the first cohort of patients, recommended that the trial proceed to enrollment of the second cohort of patients. The second cohort
has begun enrolling. Due to the complex and rapidly changing landscape of COVID infection rates and treatment responses, we cannot
predict with certainty when we will complete Phase 2 enrollment. We expect to report initial topline data from the first cohort
in the first quarter of 2021. The study protocol allows for the review of data by cohort.
Dociparstat for First-Line Acute Myeloid Leukemia (AML)
During 2020, we conducted an end of Phase 2 meeting with
the FDA related to our development of DSTAT in AML, which informed the design of the Phase 3 trial. Currently we are engaged in site initiation for Phase 3
clinical study of DSTAT for the treatment of front line AML. We expect to enroll the first patient to in early 2021.
This study will be a randomized, double-blinded trial of
approximately 570 newly diagnosed AML patients. The trial includes patients 60 years of age and older who have an
intermediate or adverse genetic risk profile. It will also include patients between 18 and 60 years old who have an adverse
genetic risk profile. Patients will receive DSTAT in combination with standard cytarabine plus
anthracycline (7+3) induction and cytarabine consolidation chemotherapy or will receive standard of care (7+3) induction and
consolidation chemotherapy alone. Patients with FLT-3 mutations are allowed in the study and are eligible to receive
midostaurin.
The primary endpoint of the study is overall survival
(OS). In addition, the FDA has indicated that event-free survival (EFS) using complete response with hematologic recovery to
define induction success (CR) may be acceptable as an endpoint to support submission of a New Drug Application
(NDA). Other endpoints to be evaluated in the proposed trial include: minimal residual disease (MRD),
relapse-free survival (RFS), time to hematologic recovery, and induction response.
In order to supplement the previously reported data from pilot
and Phase 2 studies and further evaluate DSTAT’s potential mechanism of action, the proposed Phase 3
trial includes an early assessment of comparative CR and MRD rates among the first 80 evaluable patients. A recently published
meta-analysis of 81 separate studies covering 11,151 patients (Short, et. al., Journal of the American Medical Association Oncology,
October 8, 2020) has suggested a link between MRD status and outcomes in patients with AML. Specifically, this large cohort meta-analysis
showed that MRD-negative AML patients experience superior 5-year disease-free survival (average hazard ratio: 0.37) and 5-year
overall survival (average hazard ratio: 0.36) rates when compared to patients that are MRD-positive. This study suggests that evaluation
of MRD status in AML patients may allow for an earlier assessment of therapeutic effects and could lead to acceleration in the
development of novel AML therapeutics.
The data from the first 80 evaluable patients of the proposed
Phase 3 trial are expected to be unblinded, reported publicly, and available for ongoing analysis of later endpoints, unless the
independent Data Monitoring Committee (DMC) determines that exceptional pre-specified thresholds have been achieved, in which case
the DMC will have the discretion to maintain blinding, which would allow inclusion of these patients in the final analysis.
BCV Oral Treatment for Smallpox
We completed the rolling NDA
submission for BCV tablets and for BCV suspension for the approval of BCV as a medical countermeasure for smallpox. In
December 2020 we announced that the FDA had accepted the filing of the NDA. The FDA granted priority review and set a
Prescription Drug User Fee Act (PDUFA) date of April 7, 2021.
Oncoceutics Acquisition
On January 7, 2021, we acquired Oncoceutics, Inc.
(Oncoceutics), a privately-held, clinical-stage biotechnology company developing imipridones, a novel potential class of
compounds. Oncoceutics’ lead product candidate, ONC201, selectively induced cell death in multiple cancer types in
clinical trials. ONC201 is currently being evaluated in a registrational program for recurrent H3 K27M-mutant glioma and a
response rate assessment of the registrational cohort is expected in 2021. As consideration for the acquisition, we (a) paid
an upfront cash payment of approximately $25.0 million, (b) issued an aggregate of 8,723,769 shares of our common stock, (c)
issued a promissory note to the representative of the securityholders of Oncoceutics in the principal amount of $14.0
million, to be paid in cash, upon the one year anniversary of the closing of the acquisition, and (d) agreed to make
contingent payments up to an aggregate of $360.0 million based on the achievement of certain development, regulatory and
commercialization events, as well as additional tiered royalty payments based upon future net sales of ONC-201 and
ONC-206 products, subject to certain reductions, and a contingent payment in the event we receive any proceeds from the
sale of a rare pediatric disease priority review voucher based on the Oncoceutics products. We will also pass through
to the Oncoceutics securityholders the upfront payment received from China Resources Sanjiu Medical & Pharmaceutical Co.,
Ltd. pursuant to a license agreement entered into with Oncoceutics prior to the acquisition. The closing payment may be
adjusted after the closing, pursuant to procedures, in connection with the finalization of the cash, transaction expenses,
debt and working capital amounts at closing.
Imipridones and ONC201
Imipridones are a potential new class of selective cancer
therapies. These drug candidates target specific G protein-coupled receptors (GPCRs) and mitochondrial caseinolytic protease
P (ClpP), in an effort to produce cancer cell death. The imipridone chemical scaffold provides an opportunity to target
GPCRs and ClpP with differential specificity and function. This presents an opportunity to develop potential imipridone
therapies broadly within cancer and in other diseases as well.
ONC201 selectively targets Dopamine Receptor D2 (DRD2) and
ClpP. ONC201 has selectively induced cell death in cancer by binding to and differentially altering activity of
DRD2 and ClpP.
Clinical trials of ONC201 in glioma patients with the H3 K27M-mutation
are underway at several locations in the U.S. As many as 10% of patients with glioma have the H3 K27M-mutation. The H3 K27M-mutation
is found in 50-90% of patients with midline glioma, including 80-90% of children with diffuse intrinsic pontine glioma or DIPG.
Currently there is no effective therapy for patients with the H3 K27M-mutation beyond radiation that provides only transient benefit
in a fraction of the population. Often it is not possible to resect these tumors and chemotherapy in ineffective. The median overall
survival is less than 8 months.
Based on discussions with the FDA, we plan to integrate
data from ongoing ONC201 trials into a registration cohort with the potential for an NDA submission seeking accelerated
approval. The 50 subject registration cohort includes patients meeting the following eligibility criteria: greater than 2 years of age
with recurrent diffuse midline glioma who harbor the H3 K27M-mutation in their tumor, evidence of measurable disease,
completion of prior radiation that was at least 90 days from starting ONC201 and evidence of progressive disease, among other
criteria. The primary endpoint of the study is Overall Response Rate (ORR) assessed by RANO-HGG criteria. Below is an interim
response summary, which showed a meaningful durability of response.
Figure 1: Waterfall plot reflects 47 subjects; 3
subjects did not have on-treatment tumor assessments available but were reported by investigator to have progressive disease.
Some eligibility and response data were based on unlocked CRFs that remain subject to change with additional monitoring. PR is
partial response, SD is stable disease and PD is progressive disease.
A Blinded Independent Central Review analysis of ORR is
expected to take place in 2021 which, if favorable, may form the basis for an NDA submission seeking accelerated of ONC201 in
the United States. ONC201 has been generally well tolerated across a database of over 350 glioma patients. The
most commonly reported adverse events (AEs) were nausea/vomiting, fatigue and decreased lymphocyte counts. Dose limiting
toxicities have not been observed with weekly dosing in any indication.
The FDA has granted ONC201 Fast Track Designation for the treatment
of adult recurrent H3 K27M-mutant high-grade glioma, Rare Pediatric Disease Designation for treatment of H3 K27M-mutant glioma,
and Orphan Drug Designations for the treatment of glioblastoma and for the treatment of malignant glioma.
In addition to clinical trials in glioma, ONC201 is also
being studied in an ongoing Phase 2 trial in neuroendocrine tumors at the Cleveland Clinic. Interim investigator
assessments as of a cutoff date of August 20, 2020 showed a 50% ORR in paraganglioma which are adrenal-related tumors that are known to harbor elevated DRD2
expression and dopamine secretion.
ONC206
ONC206 is a DRD2 antagonist and ClpP agonist that
demonstrated enhanced non-competitive DRD2 antagonism relative to ONC201, in preclinical studies and additionally showed
disruption of DRD2 homodimers. Treatment of tumor cells with ONC206 elicits a distinct gene expression as compared to ONC201.
ONC206 has demonstrated syngergistic in vitro activity with ONC201 in cells that have acquired resistance to ONC201. ONC206 showed anti tumor activity in preclinical models of difficult-to-treat neuroendocrine tumors and high-grade gliomas. In vitro, ONC2016 has affected some of the same downstream pathways as ONC201, including activation of the integrated
stress response and inhibition of Ras signaling, leading to selective killing of tumor cells.
The first-in-human clinical trial of ONC206 for adults with
recurrent primary central nervous system tumors is ongoing at the National Institute of Health (NCT04541082).
ONC212
ONC212 is an investigational agonist of the orphan GPCR tumor
suppressor GPR132, as well as ClpP. Similar to the potential downstream effects of ONC201 and ONC206, in vitro studies ONC212
has activated the integrated stress response, inhibited Ras signaling and selectively killed tumor cells. ONC212 showed broad-spectrum
activity across both solid tumors and hematological malignancies, including pancreatic cancer and leukemias prioritized as target
clinical indications that exhibit high GPR132 and/or ClpP expression.
Currently ONC212 is in IND-enabling studies. First-in-human
trials are expected to be conducted in conjunction with MD Anderson Cancer Center and Brown University.
Corporate Information
We were incorporated in Delaware in April 2000. Our principal
executive offices are located at 2505 Meridian Parkway, Suite 100, Durham, North Carolina 27713, and our telephone number is (919)
806-1074. Our corporate website address is www.chimerix.com. We do not incorporate by reference into this prospectus the information
on, or accessible through, our website, and you should not consider it as part of this prospectus.
THE OFFERING
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Common stock offered by us
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$75,000,000 of shares of our common stock
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Common stock to be outstanding after this offering
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72,075,565 shares (or 73,492,441 shares if the
underwriters exercise in full their option to purchase additional shares) based on a public offering price of $7.94 per
share, the last reported sale price of our common stock on The Nasdaq Global Market on January 15, 2021.
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Option to purchase additional shares
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We have granted the underwriters an option to purchase
up to an additional $11,250,000 of shares of our common stock. This option is exercisable, in whole or in part, for a
period of 30 days from the date of this prospectus supplement.
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Use of proceeds
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We currently intend to use the net proceeds from this offering to fund the clinical development of our product candidates, commercial pre-launch activities and for general corporate purposes. See “Use of Proceeds.”
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Risk factors
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You should read the “Risk Factors” section of this prospectus supplement and in the documents incorporated by reference in this prospectus supplement for a discussion of factors to consider before deciding to invest in our common stock.
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Nasdaq Global Market symbol
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“CMRX”
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The number of shares of our common stock to be outstanding after
this offering is based on 62,629,722 shares of our common stock outstanding as of September 30, 2020 and excludes:
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8,987,588 shares of common stock issuable upon the exercise of outstanding stock options as of September 30, 2020, at
a weighted-average exercise price of $5.23 per share;
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1,172,049 shares of common stock reserved for issuance upon the vesting of restricted stock units outstanding as of September
30, 2020;
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2,419,213 shares of common stock reserved for future issuance under our 2013 employee stock purchase plan;
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3,408,555 shares of common stock reserved for future issuance under our 2013 equity incentive plan; and
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8,723,769 shares of common stock issued as consideration to the shareholders of Oncoceutics in connection with the acquisition
of Oncoceutics.
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Except as otherwise indicated, all information in this prospectus
supplement assumes no exercise of outstanding options and no exercise by the underwriters of their option to purchase up to an
additional $11,250,000 of shares of our common
stock.
RISK FACTORS
You should consider carefully the risks described below and
discussed under the section captioned “Risk Factors” contained in our Annual Report on Form 10-K for the year ended
December 31, 2019 as updated by our subsequent filings under the Securities Exchange Act of 1934, as amended, or the Exchange
Act, which are incorporated by reference in this prospectus supplement and the accompanying prospectus in their entirety, together
with other information in this prospectus supplement, the accompanying prospectus and the information and documents incorporated
by reference in this prospectus supplement and the accompanying prospectus, and any free writing prospectus that we have authorized
for use in connection with this offering before you make a decision to invest in our common stock. If any of the following events
actually occur, our business, operating results, prospects or financial condition could be materially and adversely affected. This
could cause the trading price of our common stock to decline and you may lose all or part of your investment. The risks described
below are not the only ones that we face. Additional risks not presently known to us or that we currently deem immaterial may also
affect our business operations.
Risks Relating to this Offering
If you purchase shares of our common stock sold
in this offering, you will experience immediate and substantial dilution in the net tangible book value of your shares. In addition,
we may issue additional equity or convertible debt securities in the future, which may result in additional dilution to investors.
The offering price per share of common stock in this
offering is considerably more than the net tangible book value per share of our outstanding common stock. As a result,
investors purchasing shares of common stock in this offering will pay a price per share that substantially exceeds the value
of our tangible assets after subtracting liabilities. Based upon an assumed public offering price of $7.94 per share, the
last reported sale price of our common stock on the Nasdaq Stock Market on January 15, 2021, new investors will incur
immediate dilution of $5.81 per share based on the net tangible book value as of September 30, 2020. For a more detailed
discussion of the foregoing, see the section entitled “Dilution” below. To the extent outstanding stock options
are exercised, there will be further dilution to new investors. In addition, to the extent we need to raise additional
capital in the future and we issue additional shares of common stock or securities convertible or exchangeable for our common
stock, including convertible debt securities, our then existing stockholders may experience dilution and the new securities
may have rights senior to those of our common stock offered in this offering.
We have broad discretion in the use of the net proceeds
from this offering and may not use them effectively.
Our management will have broad discretion in the application
of the net proceeds from this offering, including for any of the purposes described in the section entitled “Use of Proceeds,”
and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used appropriately.
Because of the number and variability of factors that will determine our use of the net proceeds from this offering, their ultimate
use may vary substantially from their currently intended use. Our management might not apply our net proceeds in ways that ultimately
increase the value of your investment. We expect to use the net proceeds from this offering to fund the
clinical development of our product candidates, commercial pre-launch activities and for general corporate purposes. The
failure by our management to apply these funds effectively could harm our business. Pending their use, we may invest the net proceeds
from this offering in short-term, investment-grade, interest-bearing securities. These investments may not yield a favorable return
to our stockholders. If we do not invest or apply the net proceeds from this offering in ways that enhance stockholder value,
we may fail to achieve expected financial results, which could cause our stock price to decline.
We may experience difficulties in integrating the operations
of Oncoceutics into our business and in realizing the expected benefits of the Merger.
The success of the Merger will depend in part on our ability
to realize the anticipated benefits from combining the operations of Oncoceutics with our business in an efficient and effective
manner. The integration process could take longer than anticipated and could result in the loss of key employees, the disruption
of each company’s ongoing businesses, tax costs or inefficiencies, or inconsistencies in standards, controls, information
technology systems, procedures and policies, any of which could adversely affect our ability to achieve the anticipated benefits
of the Merger, and could harm our financial performance and impair stockholder value. If we are unable to successfully or timely
integrate the operations of Oncoceutics with our business, we may incur unanticipated liabilities and be unable to realize the
revenue growth, synergies and other anticipated benefits resulting from the Merger, and our business, results of operations and
financial condition could be materially and adversely affected. We have incurred significant costs in connection with the
Merger. The substantial majority of these costs are non-recurring expenses related to the Merger. We may incur additional costs
in the integration of Oncoceutics, and may not achieve cost synergies and other benefits sufficient to offset the incremental costs
of the Merger.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This prospectus supplement and the accompanying prospectus,
including the documents incorporated by reference herein and therein, and any free writing prospectus that we have authorized for
use in connection with this offering contain forward-looking statements within the meaning of Section 21E of the Exchange
Act. All statements other than statements of historical facts contained in this prospectus supplement, the accompanying prospectus
and the documents incorporated by reference herein are forward-looking statements, including statements regarding our future results
of operations and financial position, the initiation, cost, enrollment, timing, progress and results of our research and development
activities, preclinical studies and future clinical trials, our ability to obtain and maintain regulatory approval of our current
and future product candidates, and any related restrictions, limitations, and/or warnings in the label of an approved product candidate,
our ability to obtain funding for our operations, our plans to research, develop and commercialize our future product candidates,
our strategic alliance partners’ election to pursue development and commercialization, our ability to attract collaborators
with development, regulatory and commercialization expertise, our ability to obtain and maintain intellectual property protection
for our future product candidates, the size and growth potential of the markets for our current and future product candidates,
and our ability to serve those markets, our ability to successfully commercialize our current and future product candidates, the
rate and degree of market acceptance of our current and future product candidates, our ability to develop sales and marketing capabilities,
whether alone or with potential future collaborators, regulatory developments in the United States and foreign countries, the performance
of our third-party suppliers and manufacturers, the success of competing therapies that are or become available, the loss of key
scientific or management personnel, our ability to successfully integrate acquired businesses, our use of the proceeds from this
offering, and the accuracy of our estimates regarding expenses, future revenues, capital requirements and need for additional financing,
are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that
may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. This prospectus supplement, the accompanying prospectus and the documents
incorporated by reference herein also contain estimates and other statistical data made by independent parties and by us relating
to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you
are cautioned not to give undue weight to such estimates. In addition, projections, assumptions and estimates of our future performance
and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk.
In some cases, you can identify forward-looking statements by
terms such as “believes,” “expects,” “hopes,” “may,” “will,”
“plan,” “intends,” “estimates,” “could,” “should,” “would,”
“continue,” “seeks,” “pro forma,” or “anticipates,” or the negative of these terms
or other similar expressions. The forward-looking statements in this prospectus supplement, the accompanying prospectus and the
documents incorporated by reference herein are only predictions. We have based these forward-looking statements largely on our
current expectations and projections about future events and financial trends that we believe may affect our business, financial
condition and results of operations. These forward-looking statements speak only as of the date of this prospectus supplement and
are subject to a number of risks, uncertainties and assumptions, which we discuss in greater detail in the documents incorporated
by reference herein, including under the heading “Risk Factors.” The events and circumstances reflected in our forward-looking
statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking
statements. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and
it is not possible for management to predict all risk factors and uncertainties. Given these risks and uncertainties, you should
not place undue reliance on these forward-looking statements. Except as required by applicable law, we do not plan to publicly
update or revise any forward-looking statements contained in this prospectus supplement, the accompanying prospectus or the documents
incorporated by reference herein, whether as a result of any new information, future events, changed circumstances or otherwise.
For all forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995.
USE OF PROCEEDS
We estimate that we will receive net proceeds of approximately
$70.2 million from the sale of 9,445,843 shares of common stock offered by us in this offering, or approximately $80.7 million if the underwriters exercise in full their option to purchase up to an additional 1,416,876 shares of common stock,
based on an assumed public offering price of $7.94 per share, the last reported sale price of our common stock on The Nasdaq
Global Market on January 15, 2021, and after deducting the estimated underwriting discounts and commissions and estimated
offering expenses payable by us.
Each $1.00 increase (decrease) in the assumed public
offering price of $7.94 per share, the last reported sale price of our common stock on The Nasdaq Global Market on
January 15, 2021, would increase (decrease) the net proceeds to us by approximately
$8.9 million, assuming that the number of shares offered by us, as
set forth on the cover page of this prospectus, remains the same, and after deducting the estimated underwriting discounts
and commissions and estimated offering expenses payable by us. We may also increase or decrease the number of shares we are
offering. Each increase (decrease) of 1,000,000 shares in the number of shares offered by us would increase (decrease) the
net proceeds to us by approximately $7.4 million, assuming that the
public offering price remains the same, and after deducting the estimated underwriting discounts and commissions and
estimated offering expenses payable by us.
We currently intend to use the net proceeds of this offering
to fund the clinical development of our product candidates, commercial pre-launch activities and
for general corporate purposes.
The amounts and timing of our actual expenditures will depend
on numerous factors, including the factors described under “Risk Factors” in this prospectus and in the documents incorporated
by reference herein, as well as the amount of cash used in our operations. We may find it necessary or advisable to use the net
proceeds for other purposes, and we will have broad discretion in the application of the net proceeds. Pending the uses described
above, we plan to invest the net proceeds from this offering in short- and intermediate-term, interest-bearing obligations, investment-grade
instruments, certificates of deposit or direct or guaranteed obligations of the U.S. government.
DILUTION
If you invest in our common stock in this offering, your
interest will be diluted to the extent of the difference between the public offering price per share and the net tangible
book value per share of our common stock after this offering. As of September 30, 2020, our net tangible book value was
$83.2 million, or $1.33 per share, based on 62,629,722 shares outstanding. Our net tangible book value per share
represents the amount of our total tangible assets reduced by the amount of our total liabilities, divided by the total
number of shares of our common stock outstanding as of September 30, 2020. After giving effect to our sale in this
offering of 9,445,843 shares of common stock at an assumed public offering price of
$7.94 per share, the last
reported sale price of our common stock on The Nasdaq Global Market on
January 15, 2021, after deducting the estimated underwriting discounts and
commissions and estimated offering expenses payable by us, our net tangible book value as of September 30, 2020 would
have been $153.3 million, or
$2.13 per share. This represents
an immediate increase of net tangible book value of $0.80 per share
to our existing stockholders and an immediate dilution of
$5.81 per share to new investors
purchasing our common stock in this offering. The following table illustrates this per share dilution.
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Public offering price per share
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$
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7.94
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Net tangible book value per share at September 30, 2020
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$
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1.33
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|
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Increase per share attributable to investors purchasing shares in this offering
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$
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0.80
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|
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|
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As adjusted net tangible book value per share, after giving effect to this offering
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$
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2.13
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|
|
|
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Dilution per share to investors purchasing our common stock in this offering
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|
|
|
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$
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5.81
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If the underwriters exercise in full their option to
purchase up to an additional 1,416,876 shares of our common stock at the assumed public offering price of
$7.94 per share, after deducting
the estimated underwriting discounts and commissions and estimated offering expenses payable by us, our pro forma net
tangible book value after this offering would be $2.23 per share, representing an increase in net tangible book value of
$0.90 per share to our existing
stockholders and immediate dilution in net tangible book value of
$5.71 per share to new investors
purchasing common stock in this offering.
The foregoing tables and calculations (other than net tangible
book value calculations) are based on 62,629,722 shares of our common stock outstanding as of September 30, 2020. The number
of shares outstanding as of September 30, 2020, excludes:
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n
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8,987,588 shares of common stock issuable upon the exercise of outstanding stock options as of September 30, 2020, at
a weighted-average exercise price of $5.23 per share;
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n
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1,172,049 shares of common stock reserved for issuance upon the vesting of restricted stock units outstanding as of September
30, 2020;
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n
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2,419,213 shares of common stock reserved for future issuance under our 2013 employee stock purchase plan;
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n
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3,408,555 shares of common stock reserved for future issuance under our 2013 equity incentive plan; and
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n
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8,723,769 shares of common stock issued as consideration to the shareholders of Oncoceutics in connection with the acquisition
of Oncoceutics.
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To the extent that outstanding options or warrants are exercised,
you may experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic
considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that we raise
additional capital by issuing equity or convertible debt securities, your ownership will be further diluted.
UNDERWRITING
Subject to the terms and conditions set forth in the underwriting
agreement, dated January , 2021, among us and Jefferies LLC and Cowen and Company, LLC, as the representatives of the underwriters named
below and the joint book-running managers of this offering, we have agreed to sell to the underwriters, and each of the underwriters
has agreed, severally and not jointly, to purchase from us, the respective number of shares of common stock shown opposite its
name below:
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Underwriter
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Number
of
Shares
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Jefferies LLC
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Cowen and Company, LLC
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H.C. Wainwright & Co., LLC
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JonesTrading Institutional Services LLC
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Total
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The underwriting agreement provides that the obligations of
the several underwriters are subject to certain conditions precedent such as the receipt by the underwriters of officers’
certificates and legal opinions and approval of certain legal matters by their counsel. The underwriting agreement provides that
the underwriters will purchase all of the shares of common stock if any of them are purchased. If an underwriter defaults, the
underwriting agreement provides that the purchase commitments of the nondefaulting underwriters may be increased or the underwriting
agreement may be terminated. We have agreed to indemnify the underwriters and certain of their controlling persons against certain
liabilities, including liabilities under the Securities Act, and to contribute to payments that the underwriters may be required
to make in respect of those liabilities.
The underwriters have advised us that, following the completion
of this offering, they currently intend to make a market in the common stock as permitted by applicable laws and regulations. However,
the underwriters are not obligated to do so, and the underwriters may discontinue any market-making activities at any time without
notice in their sole discretion. Accordingly, no assurance can be given as to the liquidity of the trading market for the common
stock, that you will be able to sell any of the common stock held by you at a particular time or that the prices that you receive
when you sell will be favorable.
The underwriters are offering the shares of common stock subject
to their acceptance of the shares of common stock from us and subject to prior sale. The underwriters reserve the right to withdraw,
cancel or modify offers to the public and to reject orders in whole or in part.
Commission and Expenses
The underwriters have advised us that they propose to offer
the shares of common stock to the public at the initial public offering price set forth on the cover page of this prospectus and
to certain dealers, which may include the underwriters, at that price less a concession not in excess of $ per share of common
stock. The underwriters may allow, and certain dealers may reallow, a discount from the concession not in excess of $ per share
of common stock to certain brokers and dealers. After the offering, the initial public offering price, concession and reallowance
to dealers may be reduced by the representatives. No such reduction will change the amount of proceeds to be received by us as
set forth on the cover page of this prospectus.
The following table shows the public offering price, the underwriting
discounts and commissions that we are to pay the underwriters and the proceeds, before expenses, to us in connection with this
offering. Such amounts are shown assuming both no exercise and full exercise of the underwriters’ option to purchase additional
shares.
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Per Share
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Total
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Without
Option to
Purchase
Additional
Shares
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With
Option to
Purchase
Additional
Shares
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Without
Option to
Purchase
Additional
Shares
|
|
With
Option to
Purchase
Additional
Shares
|
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Public offering price
|
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$
|
|
$
|
|
$
|
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$
|
|
Underwriting discounts and commissions paid by us
|
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$
|
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$
|
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$
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$
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Proceeds to us, before expenses
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|
$
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$
|
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$
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$
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We estimate expenses payable by us in connection with this offering,
other than the underwriting discounts and commissions referred to above, will be approximately $335,000. We have agreed to reimburse
the underwriters for certain expenses incurred with the offering in an amount up to $ .
Listing
Our common stock is listed on Nasdaq under the trading symbol
“CMRX.”
Option to Purchase Additional Shares
We have granted to the underwriters an option, exercisable for
30 days from the date of this prospectus, to purchase, from time to time, in whole or in part, up to an aggregate of shares from
us at the public offering price set forth on the cover page of this prospectus, less underwriting discounts and commissions. If
the underwriters exercise this option, each underwriter will be obligated, subject to specified conditions, to purchase a number
of additional shares proportionate to that underwriter’s initial purchase commitment as indicated in the table above.
No Sales of Similar Securities
We, and our executive officers and directors, have agreed, subject
to specified exceptions, not to directly or indirectly:
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n
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offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any shares of common
stock or any securities convertible into or exercisable or exchangeable for shares of common stock,
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n
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enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of the common stock, or
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n
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publicly announce an intention to do any of the foregoing for a period of 90 days after the date of this prospectus without
the prior written consent of the representatives.
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This restriction terminates after the close of trading of the
common stock on and including the 90th day after the date of this prospectus supplement.
Jefferies LLC and Cowen and Company, LLC may, in their sole
discretion and at any time or from time to time before the termination of the 90-day period release all or any portion of the
securities subject to lock-up agreements. There are no existing agreements between the underwriters and any of our shareholders
who will execute a lock-up agreement, providing consent to the sale of shares prior to the expiration of the lock-up period.
Stabilization
The underwriters have advised us that they, pursuant to Regulation
M under the Securities Exchange Act of 1934, as amended, certain persons participating in the offering may engage in short sale
transactions, stabilizing transactions, syndicate covering transactions or the imposition of penalty bids in connection with this
offering. These activities may have the effect of stabilizing or maintaining the market price of the common stock at a level above
that which might otherwise prevail in the open market. Establishing short sales positions may involve either “covered”
short sales or “naked” short sales.
“Covered” short sales are sales made in an amount
not greater than the underwriters’ option to purchase additional shares of our common stock in this offering. The underwriters
may close out any covered short position by either exercising their option to purchase additional shares of our common stock or
purchasing shares of our common stock in the open market. In determining the source of shares to close out the covered short position,
the underwriters will consider, among other things, the price of shares available for purchase in the open market as compared to
the price at which they may purchase shares through the option to purchase additional shares.
“Naked” short sales are sales in excess of the option
to purchase additional shares of our common stock. The underwriters must close out any naked short position by purchasing shares
in the open market. A naked short position is more likely to be created if the underwriters are concerned that there may be downward
pressure on the price of the shares of our common stock in the open market after pricing that could adversely affect investors
who purchase in this offering.
A stabilizing bid is a bid for the purchase of shares of common
stock on behalf of the underwriters for the purpose of fixing or maintaining the price of the common stock. A syndicate covering
transaction is the bid for or the purchase of shares of common stock on behalf of the underwriters to reduce a short position
incurred by the underwriters in connection with the offering. Similar to other purchase transactions, the underwriter’s
purchases to cover the syndicate short sales may have the effect of raising or maintaining the market price of our common stock
or preventing or retarding a decline in the market price of our common stock. As a result, the price of our common stock may be
higher than the price that might otherwise exist in the open market. A penalty bid is an arrangement permitting the underwriters
to reclaim the selling concession otherwise accruing to a syndicate member in connection with the offering if the common stock
originally sold by such syndicate member are purchased in a syndicate covering transaction and therefore have not been effectively
placed by such syndicate member.
Neither we nor any of the underwriters make any representation
or prediction as to the direction or magnitude of any effect that the transactions described above may have on the price of our
common stock. The underwriters are not obligated to engage in these activities and, if commenced, any of the activities may be
discontinued at any time.
Electronic Distribution
A prospectus in electronic format may be made available by e-mail
or on the web sites or through online services maintained by one or more of the underwriters or their affiliates. In those cases,
prospective investors may view offering terms online and may be allowed to place orders online. The underwriters may agree with
us to allocate a specific number of shares of common stock for sale to online brokerage account holders. Any such allocation for
online distributions will be made by the underwriters on the same basis as other allocations. Other than the prospectus in electronic
format, the information on the underwriters’ web sites and any information contained in any other web site maintained by
any of the underwriters is not part of this prospectus, has not been approved and/or endorsed by us or the underwriters and should
not be relied upon by investors.
Other Activities and Relationships
The underwriters and certain of their affiliates are full service
financial institutions engaged in various activities, which may include securities trading, commercial and investment banking,
financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage activities.
The underwriters and certain of their affiliates have, from time to time, performed, and may in the future perform, various commercial
and investment banking and financial advisory services for us and our affiliates, for which they received or will receive customary
fees and expenses.
In the ordinary course of their various business activities,
the underwriters and certain of their affiliates may make or hold a broad array of investments and actively trade debt and equity
securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the
accounts of their customers, and such investment and securities activities may involve securities and/or instruments issued by
us and our affiliates. If the underwriters or their respective affiliates have a lending relationship with us, they routinely hedge
their credit exposure to us consistent with their customary risk management policies. The underwriters and their respective affiliates
may hedge such exposure by entering into transactions which consist of either the purchase of credit default swaps or the creation
of short positions in our securities or the securities of our affiliates, including potentially the common stock offered hereby.
Any such short positions could adversely affect further trading process of the common stock offered hereby. The underwriters and
certain of their respective affiliates may also communicate independent investment recommendations, market color or trading ideas
and/or publish or express independent research views in respect of such securities or instruments and may at any time hold, or
recommend to clients that they acquire, long and/or short positions in such securities and instruments.
Disclaimers About Non-U.S. Jurisdictions
Australia
This prospectus supplement is not a disclosure document for
the purposes of Australia's Corporations Act 2001 (Cth) of Australia, or Corporations Act, has not been lodged with the Australian
Securities & Investments Commission and is only directed to the categories of exempt persons set out below. Accordingly, if
you receive this prospectus supplement in Australia:
You confirm and warrant that you are either:
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n
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a "sophisticated investor" under Section 708(8)(a) or (b) of the Corporations Act;
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n
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a "sophisticated investor" under Section 708(8)(c) or (d) of the Corporations Act and that you have provided an accountant's
certificate to the company which complies with the requirements of section 708(8)(c)(i) or (ii) of the Corporations Act and related
regulations before the offer has been made;
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n
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a person associated with the Company under Section 708(12) of the Corporations Act; or
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n
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a "professional investor" within the meaning of Section 708(11)(a) or (b) of the Corporations Act. To the extent
that you are unable to confirm or warrant that you are an exempt sophisticated investor, associated person or professional investor
under the Corporations Act, any offer made to you under this prospectus supplement is void and incapable of acceptance.
|
You warrant and agree that you will not offer any of the securities
issued to you pursuant to this prospectus supplement for resale in Australia within 12 months of those securities being issued
unless any such resale offer is exempt from the requirement to issue a disclosure document under section 708 of the Corporations
Act.
Canada
A. Resale Restrictions.
The distribution of the shares in Canada is being made only in the provinces of Ontario, Quebec, Alberta and British Columbia on
a private placement basis exempt from the requirement that we prepare and file a prospectus with the securities regulatory authorities
in each province where trades of these securities are made. Any resale of the shares in Canada must be made under applicable securities
laws which may vary depending on the relevant jurisdiction, and which may require resales to be made under available statutory
exemptions or under a discretionary exemption granted by the applicable Canadian securities regulatory authority. Purchasers are
advised to seek legal advice prior to any resale of the securities.
B. Representations
of Canadian Purchasers. By purchasing shares in Canada and accepting delivery of a purchase confirmation, a purchaser is representing
to and the dealer from whom the purchase confirmation is received that:
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n
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the purchaser is entitled under applicable provincial securities laws to purchase the shares of common stock without the benefit
of a prospectus qualified under those securities laws as it is an "accredited investor" as defined under National Instrument
45-106 — Prospectus Exemptions;
|
|
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n
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the purchaser is a "permitted client" as defined in National Instrument 31-103 — Registration Requirements,
Exemptions and Ongoing Registrant Obligations;
|
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n
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where required by law, the purchaser is purchasing as principal and not as agent; and
|
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n
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the purchaser has reviewed the text above under Resale Restrictions.
|
C. Conflicts of Interest.
Canadian purchasers are hereby notified that the underwriters are relying on the exemption set out in section 3A.3 or 3A.4, if
applicable, of National Instrument 33-105 — Underwriting Conflicts from having to provide certain conflict of interest disclosure
in this document.
D. Statutory Rights
of Action. Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission
or damages if the prospectus supplement (including any amendment thereto) such as this document contains a misrepresentation, provided
that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation
of the purchaser's province or territory. The purchaser of these securities in Canada should refer to any applicable provisions
of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal
advisor.
E. Enforcement of
Legal Rights. All of our directors and officers as well as the experts named herein may be located outside of Canada and, as a
result, it may not be possible for Canadian purchasers to effect service of process within Canada upon us or those persons. All
or a substantial portion of our assets and the assets of those persons may be located outside of Canada and, as a result, it may
not be possible to satisfy a judgment against us or those persons in Canada or to enforce a judgment obtained in Canadian courts
against us or those persons outside of Canada.
F. Taxation and Eligibility
for Investment. Canadian purchasers of shares of common stock should consult their own legal and tax advisors with respect to the
tax consequences of an investment in the company in their particular circumstances and about the eligibility of the shares of common
stock for investment by the purchaser under relevant Canadian legislation.
European Economic Area
In relation to each Member State of the European Economic Area
(each, a Relevant State), no shares have been offered or will be offered pursuant to the offering to the public in that Relevant
State prior to the publication of a prospectus in relation to the shares which has been approved by the competent authority in
that Relevant State or, where appropriate, approved in another Relevant State and notified to the competent authority in that Relevant
State, all in accordance with the Prospectus Regulation, except that the shares may be offered to the public in that Relevant State
at any time:
(a) to any legal entity which is a qualified investor
as defined under Article 2 of the Prospectus Regulation;
(b) to fewer than 150 natural or legal persons (other
than qualified investors as defined under Article 2 of the Prospectus Regulation), subject to obtaining the prior consent of representatives
for any such offer; or
(c) in any other circumstances falling within
Article 1(4) of the Prospectus Regulation,
provided that no such offer of the shares shall require us or
any of the representatives to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus
pursuant to Article 23 of the Prospectus Regulation.
For the purposes of this provision, the expression an “offer
to the public” in relation to the shares in any Relevant State means the communication in any form and by any means of sufficient
information on the terms of the offer and any shares to be offered so as to enable an investor to decide to purchase or subscribe
for any shares, and the expression “Prospectus Regulation” means Regulation (EU) 2017/1129.
Hong Kong
No securities have been offered or sold, and no securities may
be offered or sold, in Hong Kong, by means of any document, other than to persons whose ordinary business is to buy or sell securities,
whether as principal or agent; or to "professional investors" as defined in the Securities and Futures Ordinance (Cap.
571) of Hong Kong, or the SFO, and any rules made under that Ordinance; or in other circumstances which do not result in the document
being a "prospectus" as defined in the Companies Ordinance (Cap. 32) of Hong Kong, or the CO, or which do not constitute
an offer or invitation to the public for the purpose of the CO or the SFO. No document, invitation or advertisement relating to
the securities has been issued or may be issued or may be in the possession of any person for the purpose of issue (in each case
whether in Hong Kong or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public
of Hong Kong (except if permitted under the securities laws of Hong Kong) other than with respect to securities which are or are
intended to be disposed of only to persons outside Hong Kong or only to "professional investors" as defined in the SFO
and any rules made under that Ordinance.
This prospectus supplement has not been registered with the
Registrar of Companies in Hong Kong. Accordingly, this prospectus supplement may not be issued, circulated or distributed in Hong
Kong, and the securities may not be offered for subscription to members of the public in Hong Kong. Each person acquiring the securities
will be required, and is deemed by the acquisition of the securities, to confirm that he is aware of the restriction on offers
of the securities described in this prospectus supplement and the relevant offering documents and that he is not acquiring, and
has not been offered any securities in circumstances that contravene any such restrictions.
Israel
This document does not constitute a prospectus under the Israeli
Securities Law, 5728-1968, or the Securities Law, and has not been filed with or approved by the Israel Securities Authority. In
Israel, this prospectus is being distributed only to, and is directed only at, and any offer of the shares of common stock is directed
only at, (i) a limited number of persons in accordance with the Israeli Securities Law and (ii) investors listed in the first addendum,
or the Addendum, to the Israeli Securities Law, consisting primarily of joint investment in trust funds, provident funds, insurance
companies, banks, portfolio managers, investment advisors, members of the Tel Aviv Stock Exchange, underwriters, venture capital
funds, entities with equity in excess of NIS 50 million and "qualified individuals," each as defined in the Addendum
(as it may be amended from time to time), collectively referred to as qualified investors (in each case, purchasing for their own
account or, where permitted under the Addendum, for the accounts of their clients who are investors listed in the Addendum). Qualified
investors are required to submit written confirmation that they fall within the scope of the Addendum, are aware of the meaning
of same and agree to it.
Japan
This offering has not been and will not be registered under
the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948 of Japan, as amended), or FIEL, and the Initial Purchaser
will not offer or sell any securities, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan (which
term as used herein means any person resident in Japan, including any corporation or other entity organized under the laws of Japan),
or to others for re-offering or resale, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan, except
pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the FIEL and any other applicable
laws, regulations and ministerial guidelines of Japan.
Singapore
This prospectus supplement has not been and will not be lodged
or registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus supplement and any other document
or material in connection with the offer or sale, or invitation for subscription or purchase, of the shares of common stock may
not be circulated or distributed, nor may the shares of common stock be offered or sold, or be made the subject of an invitation
for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor
under Section 274 of the Securities and Futures Act, Chapter 289 of Singapore, or the SFA, (ii) to a relevant person pursuant to
Section 275(1), or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275, of the
SFA, or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.
Where the shares of common stock are subscribed or purchased
under Section 275 of the SFA by a relevant person which is:
(a) a corporation (which is not an accredited investor (as defined
in Section 4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by
one or more individuals, each of whom is an accredited investor; or
(b) a trust (where the trustee is not an accredited investor)
whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor, securities
(as defined in Section 239(1) of the SFA) of that corporation or the beneficiaries' rights and interest (howsoever described) in
that trust shall not be transferred within six months after that corporation or that trust has acquired the securities pursuant
to an offer made under Section 275 of the SFA except:
(i) to an institutional investor or to a relevant person
defined in Section 275(2) of the SFA, or to any person arising from an offer referred to in Section 275(1A) or Section 276(4)(i)(B)
of the SFA;
(ii) where no consideration is or will be
given for the transfer;
(iii) where the transfer is by operation
of law;
(iv) as specified in Section 276(7) of the
SFA; or
(v) as specified in Regulation 32 of the Securities and
Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 of Singapore.
Switzerland
The securities may not be publicly offered in Switzerland and
will not be listed on the SIX Swiss Exchange, or the SIX, or on any other stock exchange or regulated trading facility in Switzerland.
This prospectus supplement has been prepared without regard to the disclosure standards for issuance prospectuses under art. 652a
or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art. 27 ff. of the SIX
Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland. Neither this prospectus
supplement nor any other offering or marketing material relating to the securities or this offering may be publicly distributed
or otherwise made publicly available in Switzerland.
Neither this prospectus supplement nor any other offering or
marketing material relating to this offering, the company or the securities have been or will be filed with or approved by any
Swiss regulatory authority. In particular, this prospectus supplement will not be filed with, and the offer of securities will
not be supervised by, the Swiss Financial Market Supervisory Authority FINMA, and the offer of securities has not been and will
not be authorized under the Swiss Federal Act on Collective Investment Schemes, or the CISA. The investor protection afforded to
acquirers of interests in collective investment schemes under the CISA does not extend to acquirers of securities.
United Kingdom
No shares have been offered or will be offered pursuant to the
offering to the public in the United Kingdom prior to the publication of a prospectus in relation to the shares of common stock
which has been approved by the Financial Conduct Authority, except that the shares may be offered to the public in the United Kingdom
at any time:
(a) to any legal entity which is a qualified investor
as defined under Article 2 of the UK Prospectus Regulation;
(b) to fewer than 150 natural or legal persons (other
than qualified investors as defined under Article 2 of the UK Prospectus Regulation), subject to obtaining the prior consent of
the representatives for any such offer; or
(c) in any other circumstances falling within
Section 86 of the FSMA,
provided that no such offer of the shares shall require the
Issuer or any Manager to publish a prospectus pursuant to Section 85 of the FSMA or supplement a prospectus pursuant to Article
23 of the UK Prospectus Regulation. For the purposes of this provision, the expression an “offer to the public” in
relation to the shares in the United Kingdom means the communication in any form and by any means of sufficient information on
the terms of the offer and any shares to be offered so as to enable an investor to decide to purchase or subscribe for any shares
and the expression “UK Prospectus Regulation” means Regulation (EU) 2017/1129 as it forms part of domestic law by virtue
of the European Union (Withdrawal) Act 2018.
LEGAL MATTERS
The validity of the issuance of the securities offered hereby
will be passed upon by our counsel, Cooley LLP, San Diego, California. The underwriters are being represented in connection with
this offering by Latham & Watkins LLP, San Diego, California.
EXPERTS
Ernst & Young LLP, independent registered public accounting
firm, has audited our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019, and the effectiveness of our internal control over financial reporting as of December 31, 2019, as set forth in their
reports, which are incorporated by reference in this prospectus and elsewhere in the registration statement. Our financial statements
and our management’s assessment of the effectiveness of internal control over financial reporting as of December 31, 2019
are incorporated by reference in reliance on Ernst & Young LLP's reports, given on their authority as experts in accounting
and auditing.
CohnReznick LLP, independent auditor, has audited Oncoceutics, Inc.'s financial statements at December 31, 2019 and 2018 and for the years
then ended, as set forth in their report, which is incorporated by reference in this prospectus and elsewhere in the registration statement. We have incorporated by reference the Oncoceutics, Inc. financial statements in the prospectus
and elsewhere in the registration statement in reliance on the report of CohnReznick LLP, given on their authority as experts in accounting
and auditing.
WHERE YOU CAN FIND MORE INFORMATION
We have filed with the SEC a registration statement on Form
S-3 under the Securities Act, of which this prospectus supplement forms a part. The rules and regulations of the SEC allow us to
omit from this prospectus supplement and the accompanying prospectus certain information included in the registration statement.
For further information about us and the securities we are offering under this prospectus supplement, you should refer to the registration
statement and the exhibits and schedules filed with the registration statement. With respect to the statements contained in this
prospectus supplement and the accompanying prospectus regarding the contents of any agreement or any other document, in each instance,
the statement is qualified in all respects by the complete text of the agreement or document, a copy of which has been filed as
an exhibit to the registration statement.
We file reports, proxy statements and other information with
the SEC. The SEC maintains a website that contains reports, proxy and information statements and other information about issuers,
such as us, who file electronically with the SEC. The address of that website is http://www.sec.gov.
Our website address is www.chimerix.com. The information on,
or accessible through, our website is not part of, and is not incorporated into, this prospectus supplement or the accompanying
prospectus and should not be considered part of this prospectus supplement or the accompanying prospectus.
INFORMATION INCORPORATED BY REFERENCE
The SEC’s rules allow us to “incorporate by reference”
information into this prospectus supplement, which means that we can disclose important information to you by referring you to
another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus
supplement and the accompanying prospectus, and subsequent information that we file with the SEC will automatically update and
supersede that information. Any statement contained in a previously filed document incorporated by reference will be deemed to
be modified or superseded for purposes of this prospectus supplement and the accompanying prospectus to the extent that a statement
contained in this prospectus supplement or the accompanying prospectus modifies or replaces that statement.
We incorporate by reference our documents listed below and any
future filings made by us with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act between the date of this prospectus
supplement and the termination of the offering of the securities described in this prospectus supplement. We are not, however,
incorporating by reference any documents or portions thereof, whether specifically listed below or filed in the future, that are
not deemed “filed” with the SEC, including any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K or
related exhibits furnished pursuant to Item 9.01 of Form 8-K.
This prospectus supplement and the accompanying prospectus incorporate
by reference the documents set forth below that have previously been filed with the SEC:
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our
Current Reports on Form 8-K (other than information furnished rather than filed) filed with the SEC on February
24, 2020, March
24, 2020, April
10, 2020, June
15, 2020, December
23, 2020, January
13, 2021, and January 19, 2021.
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All reports and other documents we subsequently file pursuant
to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the termination of this offering, including, but excluding
any information furnished to, rather than filed with, the SEC, will also be incorporated by reference into this prospectus supplement
and the accompanying prospectus and deemed to be part of this prospectus supplement and the accompanying prospectus from the date
of the filing of such reports and documents.
We will provide to each person, including any beneficial owner,
to whom a prospectus is delivered, without charge upon written or oral request, a copy of any or all of the documents that are
incorporated by reference into this prospectus but not delivered with the prospectus, including exhibits which are specifically
incorporated by reference into such documents. You should direct any requests for documents by writing us at 2505 Meridian Parkway,
Suite 100, Durham, North Carolina 27713 or telephoning us at (919) 806-1074.
The information in this prospectus
is not complete and may be changed. We may not sell these securities or accept an offer to buy these securities until the registration
statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities,
and it is not soliciting offers to buy these securities in any state where such offer or sale is not permitted.
SUBJECT
TO COMPLETION, DATED August 10, 2020
PROSPECTUS
$250,000,000
Common Stock
Preferred Stock
Debt Securities
Warrants
From time to time,
we may offer up to $250,000,000 of any combination of the securities described in this prospectus in one or more offerings. We
may also offer securities as may be issuable upon conversion, redemption, repurchase, exchange or exercise of any securities registered
hereunder, including any applicable antidilution provisions.
This prospectus provides
a general description of the securities we may offer. Each time we offer securities, we will provide specific terms of the securities
offered in a supplement to this prospectus. We may also authorize one or more free writing prospectuses to be provided to you in
connection with these offerings. The prospectus supplement and any related free writing prospectus may also add, update or change
information contained in this prospectus. You should carefully read this prospectus, the applicable prospectus supplement and any
related free writing prospectus, as well as any documents incorporated by reference, before you invest in any of the securities
being offered.
This prospectus
may not be used to consummate a sale of any securities unless accompanied by a prospectus supplement.
Our common stock is
traded on The Nasdaq Global Market under the symbol “CMRX.” On August 7, 2020, the last reported sales price of our
common stock was $3.41 per share. The applicable prospectus supplement will contain information, where applicable, as to any
other listing on The Nasdaq Global Market or any securities market or other exchange of the securities, if any, covered by the
applicable prospectus supplement.
We will sell these
securities directly to investors, through agents designated from time to time or to or through underwriters or dealers, on a continuous
or delayed basis. For additional information on the methods of sale, you should refer to the section entitled “Plan of Distribution”
in this prospectus. If any agents or underwriters are involved in the sale of any securities with respect to which this prospectus
is being delivered, the names of such agents or underwriters and any applicable fees, commissions, discounts or option to purchase
additional securities will be set forth in a prospectus supplement. The price to the public of such securities and the net proceeds
we expect to receive from such sale will also be set forth in a prospectus supplement.
Investing in
our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading
“Risk Factors” contained in the applicable prospectus supplement and any related free writing prospectus, and under
similar headings in the other documents that are incorporated by reference into this prospectus.
NEITHER THE SECURITIES
AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS
PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this prospectus
is , 2020.
TABLE OF CONTENTS
ABOUT THIS PROSPECTUS
This prospectus is
a part of a registration statement on Form S-3 that we filed with the Securities and Exchange Commission, or SEC, utilizing a “shelf”
registration process. Under this shelf registration process, we may sell any combination of the securities described in this prospectus
in one or more offerings up to a total aggregate offering price of $250,000,000. This prospectus provides you with a general description
of the securities we may offer.
Each time we sell securities
under this prospectus, we will provide a prospectus supplement that will contain specific information about the terms of that offering.
We may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating
to these offerings. The prospectus supplement and any related free writing prospectus that we may authorize to be provided to you
may also add, update or change information contained in this prospectus or in any documents that we have incorporated by reference
into this prospectus. You should read this prospectus, any applicable prospectus supplement and any related free writing prospectus,
together with the information incorporated herein by reference as described under the heading “Incorporation of Certain Information
By Reference,” before investing in any of the securities offered.
THIS PROSPECTUS
MAY NOT BE USED TO CONSUMMATE A SALE OF SECURITIES UNLESS IT IS ACCOMPANIED BY A PROSPECTUS SUPPLEMENT.
Neither
we, nor any agent, underwriter or dealer has authorized any person to give any information or to make any representation other
than those contained or incorporated by reference in this prospectus, any applicable prospectus supplement or any related free
writing prospectus prepared by or on behalf of us or to which we have referred you. This prospectus, any applicable supplement
to this prospectus or any related free writing prospectus do not constitute an offer to sell or the solicitation of an offer to
buy any securities other than the registered securities to which they relate, nor do this prospectus, any applicable supplement
to this prospectus or any related free writing prospectus constitute an offer to sell or the solicitation of an offer to buy securities
in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.
You should not assume
that the information contained in this prospectus, any applicable prospectus supplement or any related free writing prospectus
is accurate on any date subsequent to the date set forth on the front of the document or that any information we have incorporated
by reference is correct on any date subsequent to the date of the document incorporated by reference, even though this prospectus,
any applicable prospectus supplement or any related free writing prospectus is delivered, or securities are sold, on a later date.
This prospectus contains
summaries of certain provisions contained in some of the documents described herein, but reference is made to the actual documents
for complete information. All of the summaries are qualified in their entirety by the actual documents. Copies of some of the documents
referred to herein have been filed, will be filed or will be incorporated by reference as exhibits to the registration statement
of which this prospectus is a part, and you may obtain copies of those documents as described below under the heading “Where
You Can Find More Information.”
SUMMARY
This summary highlights
selected information from this prospectus and does not contain all of the information that you need to consider in making your
investment decision. You should carefully read the entire prospectus, the applicable prospectus supplement and any related free
writing prospectus, including the risks of investing in our securities discussed under the heading “Risk Factors” contained
in the applicable prospectus supplement and any related free writing prospectus, and under similar headings in the other documents
that are incorporated by reference into this prospectus. You should also carefully read the information incorporated by reference
into this prospectus, including our financial statements, and the exhibits to the registration statement of which this prospectus
is a part.
Unless otherwise mentioned
or unless the context indicates otherwise, as used in this prospectus, the terms “Chimerix,” “the Company,”
“we,” “us” and “our” refer to Chimerix, Inc., a Delaware corporation. We have obtained a registered
trademark for Chimerix® in the United States. All other trademarks or trade names referred to in this prospectus are the property
of their respective owners.
Company Overview
Chimerix, Inc. 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. We have two clinical-stage product candidates,
dociparstat sodium, or DSTAT, and brincidofovir, or BCV. Dociparstat sodium is a potential first-in-class glycosaminoglycan compound
derived from porcine heparin with known anti-inflammatory properties, but with substantially reduced risk of bleeding complications
compared to commercially available forms of heparin. DSTAT is currently in development as a first-line therapy in acute myeloid
leukemia, or AML. DSTAT may enhance eradication of leukemic blasts and quiescent leukemic stem cells, or LSCs, by making them more
sensitive to chemotherapy. Specifically, DSTAT inhibits binding and/or interactions of proteins including CXCL12, P-selectins,
HMGB1, and platelet factor 4. DSTAT may sensitize malignant blasts to chemotherapy by inhibiting AML survival pathways and reversing
LSC quiescence leading to the observed increases in relapse-free survival, or RFS, and overall survival, or OS, in a Phase 2 study
with DSTAT versus placebo. Randomized Phase 2 data suggests that DSTAT may also accelerate platelet recovery post chemotherapy
via inhibition of platelet factor 4, a negative regulator of platelet production that impairs platelet recovery following chemotherapy. DSTAT
is also being developed for acute lung injury, or ALI, in COVID-19 patients. DSTAT has demonstrated potential in preclinical studies
to address key inflammatory and coagulation disorders observed in patients with severe COVID-19. DSTAT has the potential to inhibit
the hyperactive immune response and resulting inflammation, as well as address the underlying causes of coagulation disorders seen
in COVID-19, but with substantially reduced risk of bleeding complications compared to commercially available forms of heparin.
BCV is a lipid conjugate DNA polymerase inhibitor in development as a medical countermeasure for smallpox. We expect to continue
our evaluation of external innovation in order to license, acquire or otherwise gain access to molecules that further broaden our
pipeline of investigational agents in cancer or other serious diseases.
Corporate Information
We were incorporated
in Delaware in April 2000. Our principal executive offices are located at 2505 Meridian Parkway, Suite 100, Durham, North Carolina
27713, and our telephone number is (919) 806-1074. Our corporate website address is www.chimerix.com. We do not incorporate by
reference into this prospectus the information on, or accessible through, our website, and you should not consider it as part of
this prospectus.
As of August 7,
2020, 62,200,234 shares of common stock were outstanding and no shares of preferred stock were outstanding.
The
Securities We May Offer
We may offer shares
of our common stock and preferred stock, various series of debt securities and warrants to purchase any of such securities, up
to a total aggregate offering price of $250,000,000 from time to time in one or more offerings under this prospectus, together
with any applicable prospectus supplement and any related free writing prospectus, at prices and on terms to be determined by market
conditions at the time of the relevant offering. This prospectus provides you with a general description of the securities we may
offer. Each time we offer a type or series of securities under this prospectus, we will provide a prospectus supplement that will
describe the specific amounts, prices and other important terms of the securities, including, to the extent applicable:
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maturity, if applicable;
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original issue discount, if any;
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rates and times of payment of interest or dividends, if any;
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redemption, conversion, exchange or sinking fund terms, if any;
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conversion or exchange prices or rates, if any, and, if applicable, any provisions for changes
to or adjustments in the conversion or exchange prices or rates and in the securities or other property receivable upon conversion
or exchange;
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ranking, if applicable;
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restrictive covenants, if any;
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voting or other rights, if any; and
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important U.S. federal income tax considerations.
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The prospectus supplement
and any related free writing prospectus that we may authorize to be provided to you may also add, update or change information
contained in this prospectus or in documents we have incorporated by reference. However, no prospectus supplement or free writing
prospectus will offer a security that is not registered and described in this prospectus at the time of the effectiveness of the
registration statement of which this prospectus is a part.
This prospectus
may not be used to consummate a sale of securities unless it is accompanied by a prospectus supplement.
We may sell the securities
directly to investors or through underwriters, dealers or agents. We, and our underwriters or agents, reserve the right to accept
or reject all or part of any proposed purchase of securities. If we do offer securities through underwriters or agents, we will
include in the applicable prospectus supplement:
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the names of those underwriters or agents;
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applicable fees, discounts and commissions to be paid to them;
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details regarding options to purchase additional securities, if any; and
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the estimated net proceeds to us.
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Common Stock.
We may issue shares of our common stock from time to time. The holders of our common stock are entitled to one vote for each share
held of record on all matters submitted to a vote of stockholders and do not have cumulative voting rights. Subject to preferences
that may be applicable to any outstanding shares of preferred stock, the holders of our common stock are entitled to receive ratably
such dividends as may be declared by our board of directors out of legally available funds. Upon our liquidation, dissolution or
winding up, holders of our common stock are entitled to share ratably in all assets remaining after payment of liabilities and
the liquidation preferences of any then outstanding shares of preferred stock. Our common stock does not carry any preemptive rights
enabling a holder to subscribe for, or receive shares of, any class of our common stock or any other securities convertible into
shares of any class of our common stock, or any redemption rights.
Preferred Stock.
We may issue shares of our preferred stock from time to time, in one or more series. Under our amended and restated certificate
of incorporation, our board of directors has the authority, without further action by the stockholders (unless such stockholder
action is required by applicable law or the rules of any stock exchange or market on which our securities are then traded), to
designate up to 10,000,000 shares of preferred stock in one or more series and to determine the designations, voting powers, preferences
and rights of each series of the preferred stock, as well as the qualifications, limitations or restrictions thereof, including
dividend rights, conversion rights, preemptive rights, terms of redemption or repurchase, liquidation preferences, sinking fund
terms and the number of shares constituting any series or the designation of any series, any or all of which may be greater than
the rights of the common stock. Any convertible preferred stock we may issue will be convertible into our common stock or our other
securities. Conversion may be mandatory or at the holder’s option and would be at prescribed conversion rates.
If we sell any series
of preferred stock under this prospectus, we will fix the designations, voting powers, preferences and rights of such series of
preferred stock, as well as the qualifications, limitations or restrictions thereof, in the certificate of designation relating
to that series. We will file as an exhibit to the registration statement of which this prospectus is a part, or will incorporate
by reference from reports that we file with the SEC, the form of any certificate of designation that describes the terms of the
series of preferred stock that we are offering before the issuance of the related series of preferred stock. We urge you to read
the applicable prospectus supplement (and any free writing prospectus that we may authorize to be provided to you) related to the
series of preferred stock being offered, as well as the complete certificate of designation that contains the terms of the applicable
series of preferred stock.
Debt Securities.
We may issue debt securities from time to time, in one or more series, as either senior or subordinated debt or as senior or subordinated
convertible debt. The senior debt securities will rank equally with any other unsecured and unsubordinated debt. The subordinated
debt securities will be subordinate and junior in right of payment, to the extent and in the manner described in the instrument
governing the debt, to all of our senior indebtedness. Convertible debt securities will be convertible into our common stock or
preferred stock. Conversion may be mandatory or at the holder’s option and would be at prescribed conversion rates.
The debt securities
will be issued under one or more documents called indentures, which are contracts between us and a national banking association
or other eligible party, as trustee. In this prospectus, we have summarized certain general features of the debt securities. We
urge you, however, to read the applicable prospectus supplement (and any free writing prospectus that we may authorize to be provided
to you) related to the series of debt securities being offered, as well as the complete indentures that contain the terms of the
debt securities. A form of indenture has been filed as an exhibit to the registration statement of which this prospectus is a part,
and supplemental indentures and forms of debt securities containing the terms of the debt securities being offered will be filed
as exhibits to the registration statement of which this prospectus is a part or will be incorporated by reference from reports
that we file with the SEC.
Warrants.
We may issue warrants for the purchase of common stock, preferred stock and/or debt securities in one or more series. We may issue
warrants independently or together with common stock, preferred stock and/or debt securities, and the warrants may be attached
to or separate from these securities. In this prospectus, we have summarized certain general features of the warrants. We urge
you, however, to read the applicable prospectus supplement (and any free writing prospectus that we may authorize to be provided
to you) related to the particular series of warrants being offered, as well as the complete warrant agreements and warrant certificates
that contain the terms of the warrants. Forms of the warrant agreements and forms of warrant certificates containing the terms
of the warrants being offered have been filed as exhibits to the registration statement of which this prospectus is a part, and
supplemental warrant agreements and forms of warrant certificates will be filed as exhibits to the registration statement of which
this prospectus is a part or will be incorporated by reference from reports that we file with the SEC.
We will evidence each
series of warrants by warrant certificates that we will issue. Warrants may be issued under an applicable warrant agreement that
we enter into with a warrant agent. We will indicate the name and address of the warrant agent, if applicable, in the prospectus
supplement relating to the particular series of warrants being offered.
RISK FACTORS
Investing in our securities
involves a high degree of risk. You should carefully review the risks and uncertainties described under the heading “Risk
Factors” contained in the applicable prospectus supplement and any related free writing prospectus, and under similar headings
in our Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2020 and June 30, 2020, as updated by our annual, quarterly and other reports and documents that are incorporated
by reference into this prospectus, before deciding whether to purchase any of the securities being registered pursuant to the registration
statement of which this prospectus is a part. Each of the risk factors could adversely affect our business, operating results and
financial condition, as well as adversely affect the value of an investment in our securities, and the occurrence of any of these
risks might cause you to lose all or part of your investment. Additional risks not presently known to us or that we currently believe
are immaterial may also significantly impair our business operations. Please also read carefully the section below titled “Special
Note Regarding Forward-Looking Statements.”
SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This prospectus, each
prospectus supplement and the information incorporated by reference in this prospectus and each prospectus supplement contain forward-looking
statements within the meaning of Section 27A of the Securities Act, of 1933, as amended, or the Securities Act, and Section 21E
of the Exchange Act, as amended, or the Exchange Act, that involve a number of risks and uncertainties. Although our forward-looking
statements reflect the good faith judgment of our management, these statements can only be based on facts and factors currently
known by us. Consequently, these forward-looking statements are inherently subject to risks and uncertainties, and actual results
and outcomes may differ materially from results and outcomes discussed in the forward-looking statements.
Forward-looking statements
can be identified by the use of forward-looking words such as “believes,” “expects,” “hopes,”
“may,” “will,” “plan,” “intends,” “estimates,” “could,”
“should,” “would,” “continue,” “seeks,” “pro forma,” or “anticipates,”
or other similar words (including their use in the negative), or by discussions of future matters such as the development of new
products, technology enhancements, possible collaborations, possible changes in legislation and other statements that are not historical.
These statements include but are not limited to statements under the captions “Business,” “Risk Factors”
and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in other sections
included in any applicable prospectus supplement or incorporated by reference from our Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, as applicable, as well as our other filings with the SEC. You should be aware that the occurrence of
any of the events discussed under the heading “Risk Factors” in the applicable prospectus supplement and any documents
incorporated by reference herein or therein could substantially harm our business, operating results and financial condition and
that if any of these events occurs, it could adversely affect the value of an investment in our securities.
The cautionary statements
made in this prospectus are intended to be applicable to all related forward-looking statements wherever they may appear in this
prospectus or in any prospectus supplement or any documents incorporated by reference herein or therein. We urge you not to place
undue reliance on these forward-looking statements, which speak only as of the date they are made. Except as required by law, we
assume no obligation to update our forward-looking statements, even if new information becomes available in the future.
USE OF PROCEEDS
We will retain broad
discretion over the use of the net proceeds from the sale of the securities offered hereby. Unless otherwise indicated in any prospectus
supplement or any related free writing prospectus that we may authorize to be provided to you, we currently intend to use the net
proceeds from the sale of the securities under this prospectus for general corporate purposes, which may include clinical trial
and other research and development expenses, capital expenditures, working capital and general and administrative expenses, and
potential acquisitions of or investments in businesses, products and technologies that complement our business, although we have
no present commitments or agreements to make any such acquisitions or investments. We will set forth in the applicable prospectus
supplement or free writing prospectus our intended use for the net proceeds received from the sale of any securities sold pursuant
to the prospectus supplement or free writing prospectus. Pending these uses, we intend to invest the net proceeds in short- and
intermediate-term, interest-bearing obligations, investment-grade instruments, certificates of deposit or direct or guaranteed
obligations of the U.S. government.
DESCRIPTION OF CAPITAL STOCK
As of the date of
this prospectus, our amended and restated certificate of incorporation authorizes us to issue 200,000,000 shares of common stock,
par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share.
The following summary
description of our capital stock is based on the provisions of our amended and restated certificate of incorporation, as well as
our amended and restated bylaws and the applicable provisions of the Delaware General Corporation Law. This information is qualified
entirely by reference to the applicable provisions of our amended and restated certificate of incorporation, amended and restated
bylaws and the Delaware General Corporation Law. For information on how to obtain copies of our amended and restated certificate
of incorporation and amended and restated bylaws, which are exhibits to the registration statement of which this prospectus is
a part, see “Where You Can Find Additional Information.”
Common Stock
Our common stock is
entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders, including the election
of directors, and does not have cumulative voting rights. Subject to preferences that may be applicable to any then outstanding
preferred stock, the holders of common stock are entitled to receive dividends, if any, as may be declared from time to time by
our board of directors out of legally available funds. In the event of our liquidation, dissolution or winding up, holders of our
common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment
of all of our debts and other liabilities, subject to the satisfaction of any liquidation preference granted to the holders of
any outstanding shares of preferred stock.
Holders of our common
stock have no preemptive, conversion or subscription rights, and there are no redemption or sinking fund provisions applicable
to our common stock. The rights, preferences and privileges of the holders of our common stock are subject to, and may be adversely
affected by, the rights of the holders of shares of any series of our preferred stock that we may designate and issue in the future.
All of our outstanding
shares of common stock are, and the shares of common stock to be issued in this offering, if any, will be, fully paid and nonassessable.
Preferred Stock
Pursuant to our amended
and restated certificate of incorporation, our board of directors has the authority, without further action by the stockholders
(unless such stockholder action is required by applicable law or stock exchange listing rules), to designate and issue up to 10,000,000
shares of preferred stock in one or more series, to establish from time to time the number of shares to be included in each such
series, to fix the designations, powers, preferences, privileges and relative participating, optional or special rights and the
qualifications, limitations or restrictions thereof, including dividend rights, conversion rights, voting rights, terms of redemption
and liquidation preferences, any or all of which may be greater than the rights of the common stock, and to increase or decrease
the number of shares of any such series, but not below the number of shares of such series then outstanding.
The board of directors,
without stockholder approval, can issue preferred stock with voting, conversion or other rights that could adversely affect the
voting power and other rights of the holders of common stock. Preferred stock could be issued quickly with terms designed to delay
or prevent a change in control of our company or make removal of management more difficult. Additionally, the issuance of preferred
stock may have the effect of decreasing the market price of the common stock and may adversely affect the voting power of holders
of common stock and reduce the likelihood that common stockholders will receive dividend payments and payments upon liquidation.
Our board of directors will fix the designations, voting powers, preferences and rights of the preferred stock of each series,
as well as the qualifications, limitations or restrictions thereof, of the preferred stock of each series that we offer under this
prospectus and applicable prospectus supplements in the certificate of designation relating to that series. We will file as an
exhibit to the registration statement of which this prospectus is a part, or will incorporate by reference from reports that we
file with the SEC, the form of any certificate of designation that describes the terms of the series of preferred stock we are
offering. This description will include:
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the title and stated value;
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the number of shares we are offering;
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the liquidation preference per share;
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the purchase price per share;
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the dividend rate per share, dividend period, payment
date or dates and method of calculation for dividends;
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whether dividends will be cumulative or non-cumulative
and, if cumulative, the date from which dividends will accumulate;
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our right, if any, to defer payment of dividends and
the maximum length of any such deferral period;
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the procedures for any auction and remarketing, if any;
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the provisions for a sinking fund, if any;
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the provisions for redemption or repurchase, if applicable,
and any restrictions on our ability to exercise those redemption and repurchase rights;
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any listing of the preferred stock on any securities
exchange or market;
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whether the preferred stock will be convertible into
our common stock or other securities of ours, including warrants, and, if applicable, the conversion price, or how it will be
calculated, and under what circumstances and the mechanism by which it may be adjusted, and the conversion period;
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whether the preferred stock will be exchangeable into
debt securities or other securities of ours, and, if applicable, the exchange price, or how it will be calculated, and under what
circumstances it may be adjusted, and the exchange period;
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preemptive rights, if any;
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restrictions on transfer, sale or other assignment, if
any;
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whether interests in the preferred stock will be represented
by depositary shares;
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a discussion of any material or special U.S. federal
income tax considerations applicable to the preferred stock;
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the relative ranking and preferences of the preferred
stock as to dividend rights and rights if we liquidate, dissolve or wind up our affairs;
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any limitations on issuances of any class or series of
preferred stock ranking senior to or on a parity with the series of preferred stock being issued as to dividend rights and rights
if we liquidate, dissolve or wind up our affairs; and
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any other specific terms, rights, preferences, privileges,
qualifications or limitations of, or restrictions on the preferred stock.
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The General Corporation
Law of the State of Delaware, the state of our incorporation, provides that the holders of preferred stock will have the right
to vote separately as a class (or, in some cases, as a series) on an amendment to our amended and restated certificate of incorporation
if the amendment would change the par value or, unless the amended and restated certificate of incorporation provided otherwise,
the number of authorized shares of the class or change the powers, preferences or special rights of the class or series so as to
adversely affect the class or series, as the case may be. This right is in addition to any voting rights that may be provided for
in the applicable certificate of designation.
Anti-takeover Effects of Provisions of
Delaware Law and Charter Documents
Delaware Anti-Takeover Law
We are subject to Section
203 of the Delaware General Corporation Law, or Section 203. Section 203 generally prohibits a public Delaware corporation from
engaging in a “business combination” with an “interested stockholder” for a period of three years after
the date of the transaction in which the person became an interested stockholder, unless:
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prior to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;
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upon completion of the transaction that resulting in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the commencement of the transaction, excluding for purposes of determining the number of shares outstanding (but not the outstanding voting stock owned by the interested stockholder) (a) shares owned by persons who are directors and also officers and (b) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
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on or subsequent to the consummation of the transaction, the business combination is approved by the board and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock which is not owned by the interested stockholder.
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Section
203 defines a business combination to include:
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any merger or consolidation involving the corporation and the interested stockholder;
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any sale, lease, exchange, mortgage, pledge, transfer or other disposition involving the interested stockholder of 10% or more of the assets of the corporation;
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subject to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder;
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subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; and
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the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.
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In general,
Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting
stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.
Amended and Restated Certificate
of Incorporation and Amended and Restated Bylaws
Provisions of our amended
and restated certificate of incorporation and amended and restated bylaws may delay or discourage transactions involving an actual
or potential change in our control or change in our management, including transactions in which stockholders might otherwise receive
a premium for their shares or transactions that our stockholders might otherwise deem to be in their best interests. Therefore,
these provisions could adversely affect the price of our common stock. Among other things, our amended and restated certificate
of incorporation and amended and restated bylaws:
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permit our board of directors to issue up to 10,000,000 shares of preferred stock, with any rights, preferences and privileges as they may designate (including the right to approve an acquisition or other change in our control);
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provide that the authorized number of directors may be changed only by resolution adopted by a majority of the board of directors;
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provide that the board of directors or any individual director may only be removed with cause and the affirmative vote of the holders of at least 66 2/3% of the voting power of all of our then outstanding common stock;
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provide that all vacancies, including newly created directorships, may, except as otherwise required by law or subject to the rights of holders of preferred stock as designated from time to time, be filled by the affirmative vote of a majority of directors then in office, even if less than a quorum;
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divide our board of directors into three classes;
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require that any action to be taken by our stockholders must be effected at a duly called annual or special meeting of stockholders and not be taken by written consent;
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provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide notice in writing in a timely manner and also specify requirements as to the form and content of a stockholder’s notice;
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do not provide for cumulative voting rights (therefore allowing the holders of a majority of the shares of common stock entitled to vote in any election of directors to elect all of the directors standing for election, if they should so choose);
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provide that special meetings of our stockholders may be called only by the chairman of the board, our Chief Executive Officer or by the board of directors pursuant to a resolution adopted by a majority of the total number of authorized directors (whether or not there exists any vacancies); and
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provide that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any of our directors or officers to us or our stockholders, (iii) any action asserting a claim against us arising pursuant to any provision of the DGCL or our certificate of incorporation or bylaws, or (iv) any action asserting a claim against us governed by the internal affairs doctrine (these choice of forum provisions do not apply to suits brought to enforce a duty or liability created by the Securities Act, the Exchange Act, or any other claim for which the federal courts have exclusive jurisdiction).
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The amendment of any
of these provisions, with the exception of the ability of our board of directors to issue shares of preferred stock and designate
any rights, preferences and privileges thereto, would require the affirmative vote of the holders of at least 66 2/3% of the
voting power of all of our then outstanding common stock.
Transfer Agent and Registrar
The transfer agent
and registrar for our common stock is Computershare Trust Company, N.A. The transfer agent and registrar’s address is P.O.
Box 43078, Providence, Rhode Island 02940. The transfer agent for any series of preferred stock that we may offer under this prospectus
will be named and described in the prospectus supplement for that series.
Listing on The Nasdaq Global Market
Our common stock is listed
on The Nasdaq Global Market under the symbol CMRX.
DESCRIPTION OF DEBT SECURITIES
We may issue debt
securities from time to time, in one or more series, as either senior or subordinated debt or as senior or subordinated convertible
debt. While the terms we have summarized below will apply generally to any debt securities that we may offer under this prospectus,
we will describe the particular terms of any debt securities that we may offer in more detail in the applicable prospectus supplement.
The terms of any debt securities offered under a prospectus supplement may differ from the terms described below. Unless the context
requires otherwise, whenever we refer to the indenture, we also are referring to any supplemental indentures that specify the terms
of a particular series of debt securities.
We will issue the
debt securities under the indenture that we will enter into with the trustee named in the indenture. The indenture will be qualified
under the Trust Indenture Act of 1939, as amended, or the Trust Indenture Act. We have filed the form of indenture as an exhibit
to the registration statement of which this prospectus is a part, and supplemental indentures and forms of debt securities containing
the terms of the debt securities being offered will be filed as exhibits to the registration statement of which this prospectus
is a part or will be incorporated by reference from reports that we file with the SEC.
The following summary
of material provisions of the debt securities and the indenture is subject to, and qualified in its entirety by reference to, all
of the provisions of the indenture applicable to a particular series of debt securities. We urge you to read the applicable prospectus
supplements and any related free writing prospectuses related to the debt securities that we may offer under this prospectus, as
well as the complete indenture that contains the terms of the debt securities.
General
The indenture does
not limit the amount of debt securities that we may issue. It provides that we may issue debt securities up to the principal amount
that we may authorize and may be in any currency or currency unit that we may designate. Except for the limitations on consolidation,
merger and sale of all or substantially all of our assets contained in the indenture, the terms of the indenture do not contain
any covenants or other provisions designed to give holders of any debt securities protection against changes in our operations,
financial condition or transactions involving us.
We may issue the debt
securities issued under the indenture as “discount securities,” which means they may be sold at a discount below their
stated principal amount. These debt securities, as well as other debt securities that are not issued at a discount, may be issued
with “original issue discount,” or OID, for U.S. federal income tax purposes because of interest payment and other
characteristics or terms of the debt securities. Material U.S. federal income tax considerations applicable to debt securities
issued with OID will be described in more detail in any applicable prospectus supplement.
We will describe in
the applicable prospectus supplement the terms of the series of debt securities being offered, including:
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the title of the series of debt securities;
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any limit upon the aggregate principal amount that may be issued;
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the maturity date or dates;
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the form of the debt securities of the series;
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the applicability of any guarantees;
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whether or not the debt securities will be secured or unsecured, and the terms of any secured debt;
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whether the debt securities rank as senior debt, senior subordinated debt, subordinated debt or
any combination thereof, and the terms of any subordination;
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if the price (expressed as a percentage of the aggregate principal amount thereof) at which such
debt securities will be issued is a price other than the principal amount thereof, the portion of the principal amount thereof
payable upon declaration of acceleration of the maturity thereof, or if applicable, the portion of the principal amount of such
debt securities that is convertible into another security or the method by which any such portion shall be determined;
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the interest rate or rates, which may be fixed or variable, or the method for determining the rate
and the date interest will begin to accrue, the dates interest will be payable and the regular record dates for interest payment
dates or the method for determining such dates;
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our right, if any, to defer payment of interest and the maximum length of any such deferral period;
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if applicable, the date or dates after which, or the period or periods during which, and the price
or prices at which, we may, at our option, redeem the series of debt securities pursuant to any optional or provisional redemption
provisions and the terms of those redemption provisions;
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the date or dates, if any, on which, and the price or prices at which we are obligated, pursuant
to any mandatory sinking fund or analogous fund provisions or otherwise, to redeem, or at the holder’s option to purchase,
the series of debt securities and the currency or currency unit in which the debt securities are payable;
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the denominations in which we will issue the series of debt securities, if other than denominations
of $1,000 and any integral multiple thereof;
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any and all terms, if applicable, relating to any auction or remarketing of the debt securities
of that series and any security for our obligations with respect to such debt securities and any other terms which may be advisable
in connection with the marketing of debt securities of that series;
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whether the debt securities of the series shall be issued in whole or in part in the form of a
global security or securities; the terms and conditions, if any, upon which such global security or securities may be exchanged
in whole or in part for other individual securities; and the depositary for such global security or securities;
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if applicable, the provisions relating to conversion or exchange of any debt securities of the
series and the terms and conditions upon which such debt securities will be so convertible or exchangeable, including the conversion
or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional (at our option or
the holders’ option) conversion or exchange features, the applicable conversion or exchange period and the manner of settlement
for any conversion or exchange;
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if other than the full principal amount thereof, the portion of the principal amount of debt securities
of the series which shall be payable upon declaration of acceleration of the maturity thereof;
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additions to or changes in the covenants applicable to the particular debt securities being issued,
including, among others, the consolidation, merger or sale covenant;
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additions to or changes in the events of default with respect to the securities and any change
in the right of the trustee or the holders to declare the principal, premium, if any, and interest, if any, with respect to such
securities to be due and payable;
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additions to or changes in or deletions of the provisions relating to covenant defeasance and legal
defeasance;
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additions to or changes in the provisions relating to satisfaction and discharge of the indenture;
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additions to or changes in the provisions relating to the modification of the indenture both with
and without the consent of holders of debt securities issued under the indenture;
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the currency of payment of debt securities if other than U.S. dollars and the manner of determining
the equivalent amount in U.S. dollars;
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whether interest will be payable in cash or additional debt securities at our or the holders’
option and the terms and conditions upon which the election may be made;
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the terms and conditions, if any, upon which we will pay amounts in addition to the stated interest,
premium, if any, and principal amounts of the debt securities of the series to any holder that is not a “United States person”
for federal tax purposes;
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any restrictions on transfer, sale or assignment of the debt securities of the series; and
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any other specific terms, preferences, rights or limitations of, or restrictions on, the debt securities,
any other additions or changes in the provisions of the indenture, and any terms that may be required by us or advisable under
applicable laws or regulations.
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Conversion or Exchange Rights
We will set forth
in the applicable prospectus supplement the terms on which a series of debt securities may be convertible into or exchangeable
for our common stock or our other securities. We will include provisions as to settlement upon conversion or exchange and whether
conversion or exchange is mandatory, at the option of the holder or at our option. We may include provisions pursuant to which
the number of shares of our common stock or our other securities that the holders of the series of debt securities receive would
be subject to adjustment.
Consolidation, Merger or Sale
Unless we provide
otherwise in the prospectus supplement applicable to a particular series of debt securities, the indenture will not contain any
covenant that restricts our ability to merge or consolidate, or sell, convey, transfer or otherwise dispose of our assets as an
entirety or substantially as an entirety. However, any successor to or acquirer of such assets (other than a subsidiary of ours)
must assume all of our obligations under the indenture or the debt securities, as appropriate.
Events of Default under the Indenture
Unless we provide
otherwise in the prospectus supplement applicable to a particular series of debt securities, the following are events of default
under the indenture with respect to any series of debt securities that we may issue:
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if we fail to pay any installment of interest on any series of debt securities, as and when the
same shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension
of an interest payment period by us in accordance with the terms of any indenture supplemental thereto shall not constitute a default
in the payment of interest for this purpose;
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if we fail to pay the principal of, or premium, if any, on any series of debt securities as and
when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment
required by any sinking or analogous fund established with respect to such series; provided, however, that a valid extension of
the maturity of such debt securities in accordance with the terms of any indenture supplemental thereto shall not constitute a
default in the payment of principal or premium, if any;
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if we fail to observe or perform any other covenant or agreement contained in the debt securities
or the indenture, other than a covenant specifically relating to another series of debt securities, and our failure continues for
90 days after we receive written notice of such failure, requiring the same to be remedied and stating that such is a notice
of default thereunder, from the trustee or holders of at least 25% in aggregate principal amount of the outstanding debt securities
of the applicable series; and
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if specified events of bankruptcy, insolvency or reorganization occur.
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If an event of default
with respect to debt securities of any series occurs and is continuing, other than an event of default specified in the last bullet
point above, the trustee or the holders of at least 25% in aggregate principal amount of the outstanding debt securities of that
series, by notice to us in writing, and to the trustee if notice is given by such holders, may declare the unpaid principal of,
premium, if any, and accrued interest, if any, of such series of debt securities due and payable immediately. If an event of default
specified in the last bullet point above occurs with respect to us, the principal amount of and accrued interest, if any, of each
issue of debt securities then outstanding shall be due and payable without any notice or other action on the part of the trustee
or any holder.
The holders of a majority
in principal amount of the outstanding debt securities of an affected series may waive any default or event of default with respect
to the series and its consequences, except defaults or events of default regarding payment of principal, premium, if any, or interest,
unless we have cured the default or event of default in accordance with the indenture. Any waiver shall cure the default or event
of default.
Subject to the terms
of the indenture, if an event of default under an indenture shall occur and be continuing, the trustee will be under no obligation
to exercise any of its rights or powers under such indenture at the request or direction of any of the holders of the applicable
series of debt securities, unless such holders have offered the trustee reasonable indemnity. The holders of a majority in principal
amount of the outstanding debt securities of any series will have the right to direct the time, method and place of conducting
any proceeding for any remedy available to the trustee, or exercising any trust or power conferred on the trustee, with respect
to the debt securities of that series, provided that:
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the direction so given by the holder is not in conflict with any law or the applicable indenture;
and
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subject to its duties under the Trust Indenture Act, the trustee need not take any action that
might involve it in personal liability or might be unduly prejudicial to the holders not involved in the proceeding.
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A holder of the debt
securities of any series will have the right to institute a proceeding under the indenture or to appoint a receiver or trustee,
or to seek other remedies only if:
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the holder has given written notice to the trustee of a continuing event of default with respect
to that series;
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the holders of at least 25% in aggregate principal amount of the outstanding debt securities of
that series have made written request;
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such holders have offered to the trustee indemnity satisfactory to it against the costs, expenses
and liabilities to be incurred by the trustee in compliance with the request; and
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the trustee does not institute the proceeding, and does not receive from the holders of a majority
in aggregate principal amount of the outstanding debt securities of that series other conflicting directions within 90 days
after the notice, request and offer.
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These limitations
do not apply to a suit instituted by a holder of debt securities if we default in the payment of the principal, premium, if any,
or interest on, the debt securities.
We will periodically
file statements with the trustee regarding our compliance with specified covenants in the indenture.
Modification of Indenture; Waiver
We and the trustee
may change an indenture without the consent of any holders with respect to specific matters:
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to cure any ambiguity, defect or inconsistency in the indenture or in the debt securities of any
series;
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to comply with the provisions described above under “Description of Debt Securities—Consolidation,
Merger or Sale;”
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to provide for uncertificated debt securities in addition to or in place of certificated debt securities;
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to add to our covenants, restrictions, conditions or provisions such new covenants, restrictions,
conditions or provisions for the benefit of the holders of all or any series of debt securities, to make the occurrence, or the
occurrence and the continuance, of a default in any such additional covenants, restrictions, conditions or provisions an event
of default or to surrender any right or power conferred upon us in the indenture;
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to add to, delete from or revise the conditions, limitations, and restrictions on the authorized
amount, terms, or purposes of issue, authentication and delivery of debt securities, as set forth in the indenture;
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to make any change that does not adversely affect the interests of any holder of debt securities
of any series in any material respect;
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to provide for the issuance of and establish the form and terms and conditions of the debt securities
of any series as provided above under “Description of Debt Securities—General” to establish the form of any certifications
required to be furnished pursuant to the terms of the indenture or any series of debt securities, or to add to the rights of the
holders of any series of debt securities;
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to evidence and provide for the acceptance of appointment under any indenture by a successor trustee;
or
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to comply with any requirements of the SEC in connection with the qualification of any indenture
under the Trust Indenture Act.
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In addition, under
the indenture, the rights of holders of a series of debt securities may be changed by us and the trustee with the written consent
of the holders of at least a majority in aggregate principal amount of the outstanding debt securities of each series that is affected.
However, unless we provide otherwise in the prospectus supplement applicable to a particular series of debt securities, we and
the trustee may make the following changes only with the consent of each holder of any outstanding debt securities affected:
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extending the fixed maturity of any debt securities of any series;
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reducing the principal amount, reducing the rate of or extending the time of payment of interest,
or reducing any premium payable upon the redemption of any series of any debt securities; or
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reducing the percentage of debt securities, the holders of which are required to consent to any
amendment, supplement, modification or waiver.
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Discharge
Each indenture provides
that we can elect to be discharged from our obligations with respect to one or more series of debt securities, except for specified
obligations, including obligations to:
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register the transfer or exchange of debt securities of the series;
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replace stolen, lost or mutilated debt securities of the series;
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pay principal of and premium and interest on any debt securities of the series;
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maintain paying agencies;
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hold monies for payment in trust;
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recover excess money held by the trustee;
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compensate and indemnify the trustee; and
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appoint any successor trustee.
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In order to exercise
our rights to be discharged, we must deposit with the trustee money or government obligations sufficient to pay all the principal
of, any premium, if any, and interest on, the debt securities of the series on the dates payments are due.
Form, Exchange and Transfer
We will issue the
debt securities of each series only in fully registered form without coupons and, unless we provide otherwise in the applicable
prospectus supplement, in denominations of $1,000 and any integral multiple thereof. The indenture provides that we may issue debt
securities of a series in temporary or permanent global form and as book-entry securities that will be deposited with, or on behalf
of, The Depository Trust Company, or DTC, or another depositary named by us and identified in the applicable prospectus supplement
with respect to that series. To the extent the debt securities of a series are issued in global form and as book-entry, a description
of terms relating to any book-entry securities will be set forth in the applicable prospectus supplement.
At the option of the
holder, subject to the terms of the indenture and the limitations applicable to global securities described in the applicable prospectus
supplement, the holder of the debt securities of any series can exchange the debt securities for other debt securities of the same
series, in any authorized denomination and of like tenor and aggregate principal amount.
Subject to the terms
of the indenture and the limitations applicable to global securities set forth in the applicable prospectus supplement, holders
of the debt securities may present the debt securities for exchange or for registration of transfer, duly endorsed or with the
form of transfer endorsed thereon duly executed if so required by us or the security registrar, at the office of the security registrar
or at the office of any transfer agent designated by us for this purpose. Unless otherwise provided in the debt securities that
the holder presents for transfer or exchange, we will impose no service charge for any registration of transfer or exchange, but
we may require payment of any taxes or other governmental charges.
We will name in the
applicable prospectus supplement the security registrar, and any transfer agent in addition to the security registrar, that we
initially designate for any debt securities. We may at any time designate additional transfer agents or rescind the designation
of any transfer agent or approve a change in the office through which any transfer agent acts, except that we will be required
to maintain a transfer agent in each place of payment for the debt securities of each series.
If we elect to redeem
the debt securities of any series, we will not be required to:
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issue, register the transfer of, or exchange any debt securities of that series during a period
beginning at the opening of business 15 days before the day of mailing of a notice of redemption of any debt securities that
may be selected for redemption and ending at the close of business on the day of the mailing; or
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register the transfer of or exchange of any debt securities so selected for redemption, in whole
or in part, except the unredeemed portion of any debt securities we are redeeming in part.
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Information Concerning the Trustee
The trustee, other
than during the occurrence and continuance of an event of default under an indenture, undertakes to perform only those duties as
are specifically set forth in the applicable indenture. Upon an event of default under an indenture, the trustee must use the same
degree of care as a prudent person would exercise or use in the conduct of his or her own affairs. Subject to this provision, the
trustee is under no obligation to exercise any of the powers given it by the indenture at the request of any holder of debt securities
unless it is offered reasonable security and indemnity against the costs, expenses and liabilities that it might incur.
Payment and Paying Agents
Unless we otherwise
indicate in the applicable prospectus supplement, we will make payment of the interest on any debt securities on any interest payment
date to the person in whose name the debt securities, or one or more predecessor securities, are registered at the close of business
on the regular record date for the interest.
We will pay principal
of and any premium and interest on the debt securities of a particular series at the office of the paying agents designated by
us, except that unless we otherwise indicate in the applicable prospectus supplement, we will make interest payments by check that
we will mail to the holder or by wire transfer to certain holders. Unless we otherwise indicate in the applicable prospectus supplement,
we will designate the corporate trust office of the trustee as our sole paying agent for payments with respect to debt securities
of each series. We will name in the applicable prospectus supplement any other paying agents that we initially designate for the
debt securities of a particular series. We will maintain a paying agent in each place of payment for the debt securities of a particular
series.
All money we pay to
a paying agent or the trustee for the payment of the principal of or any premium or interest on any debt securities that remains
unclaimed at the end of two years after such principal, premium or interest has become due and payable will be repaid to us, and
the holder of the debt security thereafter may look only to us for payment thereof.
Governing Law
The indenture and
the debt securities will be governed by and construed in accordance with the internal laws of the State of New York, except to
the extent that the Trust Indenture Act of 1939 is applicable.
DESCRIPTION OF WARRANTS
The following description,
together with the additional information we may include in the applicable prospectus supplements and free writing prospectuses,
summarizes the material terms and provisions of the warrants that we may offer under this prospectus, which may consist of warrants
to purchase common stock, preferred stock or debt securities and may be issued in one or more series. Warrants may be issued independently
or together with common stock, preferred stock or debt securities offered by any prospectus supplement, and may be attached to
or separate from those securities. While the terms we have summarized below will apply generally to any warrants that we may offer
under this prospectus, we will describe the particular terms of any series of warrants that we may offer in more detail in the
applicable prospectus supplement and any applicable free writing prospectus. The terms of any warrants offered under a prospectus
supplement may differ from the terms described below. However, no prospectus supplement will fundamentally change the terms that
are set forth in this prospectus or offer a security that is not registered and described in this prospectus at the time of its
effectiveness.
We have filed forms
of the warrant agreements and forms of warrant certificates containing the terms of the warrants being offered as exhibits to the
registration statement of which this prospectus is a part. We will file as exhibits to the registration statement of which this
prospectus is a part, or will incorporate by reference from reports that we file with the SEC, the form of warrant agreement, if
any, including a form of warrant certificate, that describes the terms of the particular series of warrants we are offering. The
following summaries of material provisions of the warrants and the warrant agreements are subject to, and qualified in their entirety
by reference to, all the provisions of the warrant agreement and warrant certificate applicable to the particular series of warrants
that we may offer under this prospectus. We urge you to read the applicable prospectus supplements related to the particular series
of warrants that we may offer under this prospectus, as well as any related free writing prospectuses, and the complete warrant
agreements and warrant certificates that contain the terms of the warrants.
General
We will describe in
the applicable prospectus supplement the terms relating to a series of warrants being offered, including:
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the title of such securities;
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the offering price or prices and aggregate number of warrants offered;
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the currency or currencies for which the warrants may be purchased;
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if applicable, the designation and terms of the securities with which the warrants are issued and
the number of warrants issued with each such security or each principal amount of such security;
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if applicable, the date on and after which the warrants and the related securities will be separately
transferable;
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if applicable, the minimum or maximum amount of such warrants which may be exercised at any one
time;
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in the case of warrants to purchase debt securities, the principal amount of debt securities purchasable
upon exercise of one warrant and the price at which, and currency in which, this principal amount of debt securities may be purchased
upon such exercise;
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in the case of warrants to purchase common stock or preferred stock, the number of shares of common
stock or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price at which, and the currency
in which, these shares may be purchased upon such exercise;
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the effect of any merger, consolidation, sale or other disposition of our business on the warrant
agreements and the warrants;
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the terms of any rights to redeem or call the warrants;
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the terms of any rights to force the exercise of the warrants;
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any provisions for changes to or adjustments in the exercise price or number of securities issuable
upon exercise of the warrants;
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the dates on which the right to exercise the warrants will commence and expire;
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the manner in which the warrant agreements and warrants may be modified;
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a discussion of any material or special U.S. federal income tax consequences of holding or exercising
the warrants;
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the terms of the securities issuable upon exercise of the warrants; and
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any other specific terms, preferences, rights or limitations of or restrictions on the warrants.
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Before exercising
their warrants, holders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise,
including:
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in the case of warrants to purchase debt securities, the right to receive payments of principal
of, or premium, if any, or interest on, the debt securities purchasable upon exercise or to enforce covenants in the applicable
indenture; or
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in the case of warrants to purchase common stock or preferred stock, the right to receive dividends,
if any, or, payments upon our liquidation, dissolution or winding up or to exercise voting rights, if any.
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Exercise of Warrants
Each warrant will
entitle the holder to purchase the securities that we specify in the applicable prospectus supplement at the exercise price that
we describe in the applicable prospectus supplement. Unless we otherwise specify in the applicable prospectus supplement, holders
of the warrants may exercise the warrants at any time up to the specified time on the expiration date that we set forth in the
applicable prospectus supplement. After the close of business on the expiration date, unexercised warrants will become void.
Unless we otherwise
specify in the applicable prospectus supplement, holders of the warrants may exercise the warrants by delivering the warrant certificate
representing the warrants to be exercised together with specified information, and paying the required amount to the warrant agent
in immediately available funds, as provided in the applicable prospectus supplement. We will set forth on the reverse side of the
warrant certificate and in the applicable prospectus supplement the information that the holder of the warrant will be required
to deliver to the warrant agent in connection with the exercise of the warrant.
Upon receipt of the
required payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant
agent or any other office indicated in the applicable prospectus supplement, we will issue and deliver the securities purchasable
upon such exercise. If fewer than all of the warrants represented by the warrant certificate are exercised, then we will issue
a new warrant certificate for the remaining amount of warrants. If we so indicate in the applicable prospectus supplement, holders
of the warrants may surrender securities as all or part of the exercise price for warrants.
Governing Law
Unless we provide
otherwise in the applicable prospectus supplement, the warrants and warrant agreements, and any claim, controversy or dispute arising
under or related to the warrants or warrant agreements, will be governed by and construed in accordance with the laws of the State
of New York.
Enforceability of Rights by Holders
of Warrants
Each warrant agent
will act solely as our agent under the applicable warrant agreement and will not assume any obligation or relationship of agency
or trust with any holder of any warrant. A single bank or trust company may act as warrant agent for more than one issue of warrants.
A warrant agent will have no duty or responsibility in case of any default by us under the applicable warrant agreement or warrant,
including any duty or responsibility to initiate any proceedings at law or otherwise, or to make any demand upon us. Any holder
of a warrant may, without the consent of the related warrant agent or the holder of any other warrant, enforce by appropriate legal
action its right to exercise, and receive the securities purchasable upon exercise of, its warrants.
LEGAL OWNERSHIP OF SECURITIES
We can issue securities
in registered form or in the form of one or more global securities. We describe global securities in greater detail below.
We refer to those persons who have securities registered in their own names on the books that we or any applicable trustee
or depositary maintain for this purpose as the “holders” of those securities. These
persons are the legal holders of the securities. We refer to those persons who, indirectly through
others, own beneficial interests in securities that are not registered in their own names, as “indirect holders” of
those securities. As we discuss below, indirect holders are not legal holders, and investors in
securities issued in book-entry form or in street name will be indirect holders.
Book-Entry Holders
We may issue securities
in book-entry form only, as we will specify in the applicable prospectus supplement. This means
securities may be represented by one or more global securities registered in the name of a financial institution that holds them
as depositary on behalf of other financial institutions that participate in the depositary’s book-entry system.
These participating institutions, which are referred to as participants, in turn, hold beneficial interests in the securities
on behalf of themselves or their customers.
Only the person in
whose name a security is registered is recognized as the holder of that security. Global securities
will be registered in the name of the depositary or its participants. Consequently, for global
securities, we will recognize only the depositary as the holder of the securities, and we will make all payments on the securities
to the depositary. The depositary passes along the payments it receives to its participants, which
in turn pass the payments along to their customers who are the beneficial owners. The depositary
and its participants do so under agreements they have made with one another or with their customers; they are not obligated to
do so under the terms of the securities.
As a result, investors
in a global security will not own securities directly. Instead, they will own beneficial interests
in a global security, through a bank, broker or other financial institution that participates in the depositary’s book-entry
system or holds an interest through a participant. As long as the securities are issued in global
form, investors will be indirect holders, and not legal holders, of the securities.
Street Name Holders
A global security
may be terminated in certain situations as described under “—Special Situations When A Global Security Will Be Terminated,”
or issue securities that are not issued in global form. In these cases, investors may choose to
hold their securities in their own names or in “street name.” Securities held by an investor in street name would be
registered in the name of a bank, broker or other financial institution that the investor chooses, and the investor would hold
only a beneficial interest in those securities through an account he or she maintains at that institution.
For securities held
in street name, we or any applicable trustee or depositary will recognize only the intermediary banks, brokers and other financial
institutions in whose names the securities are registered as the holders of those securities, and we or any such trustee or depositary
will make all payments on those securities to them. These institutions pass along the payments
they receive to their customers who are the beneficial owners, but only because they agree to do so in their customer agreements
or because they are legally required to do so. Investors who hold securities in street name will
be indirect holders, not holders, of those securities.
Legal Holders
Our obligations, as
well as the obligations of any applicable trustee or third party employed by us or a trustee, run only to the legal holders of
the securities. We do not have obligations to investors who hold beneficial interests in global
securities, in street name or by any other indirect means. This will be the case whether an investor
chooses to be an indirect holder of a security or has no choice because we are issuing the securities only in global form.
For example, once
we make a payment or give a notice to the legal holder, we have no further responsibility for the payment or notice even if that
legal holder is required, under agreements with its participants or customers or by law, to pass it along to the indirect holders
but does not do so. Similarly, we may want to obtain the approval of the holders to amend an indenture,
to relieve us of the consequences of a default or of our obligation to comply with a particular provision of an indenture, or for
other purposes. In such an event, we would seek approval only from the legal holders, and not
the indirect holders, of the securities. Whether and how the legal holders contact the indirect
holders is up to the legal holders.
Special Considerations for Indirect
Holders
If you hold securities
through a bank, broker or other financial institution, either in book-entry form because the securities are represented by one
or more global securities or in street name, you should check with your own institution to find out:
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how it handles securities payments and notices;
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whether it imposes fees or charges;
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how it would handle a request for the holders’ consent, if ever required;
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whether and how you can instruct it to send you securities registered in your own name so you can
be a holder, if that is permitted in the future;
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how it would exercise rights under the securities if there were a default or other event triggering
the need for holders to act to protect their interests; and
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if the securities are in book-entry form, how the depositary’s rules and procedures will
affect these matters.
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Global Securities
A global security
is a security that represents one or any other number of individual securities held by a depositary.
Generally, all securities represented by the same global securities will have the same terms.
Each security issued
in book-entry form will be represented by a global security that we issue to, deposit with and register in the name of a financial
institution or its nominee that we select. The financial institution that we select for this purpose
is called the depositary. Unless we specify otherwise in the applicable prospectus supplement,
DTC will be the depositary for all securities issued in book-entry form.
A global security
may not be transferred to or registered in the name of anyone other than the depositary, its nominee or a successor depositary,
unless special termination situations arise. We describe those situations below under “—Special
Situations When A Global Security Will Be Terminated.” As a result of these arrangements, the depositary, or its nominee,
will be the sole registered owner and legal holder of all securities represented by a global security, and investors will be permitted
to own only beneficial interests in a global security. Beneficial interests must be held by means
of an account with a broker, bank or other financial institution that in turn has an account with the depositary or with another
institution that does. Thus, an investor whose security is represented by a global security will
not be a legal holder of the security, but only an indirect holder of a beneficial interest in the global security.
If the prospectus
supplement for a particular security indicates that the security will be issued as a global security, then the security will be
represented by a global security at all times unless and until the global security is terminated. If
termination occurs, we may issue the securities through another book-entry clearing system or decide that the securities may no
longer be held through any book-entry clearing system.
Special Considerations For Global
Securities
As an indirect holder,
an investor’s rights relating to a global security will be governed by the account rules of the investor’s financial
institution and of the depositary, as well as general laws relating to securities transfers. We
do not recognize an indirect holder as a holder of securities and instead deal only with the depositary that holds the global security.
If securities are
issued only as global securities, an investor should be aware of the following:
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an investor cannot cause the securities to be registered in his or her name, and cannot obtain
non-global certificates for his or her interest in the securities, except in the special situations we describe below;
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an investor will be an indirect holder and must look to his or her own bank or broker for payments
on the securities and protection of his or her legal rights relating to the securities, as we describe above;
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an investor may not be able to sell interests in the securities to some insurance companies and
to other institutions that are required by law to own their securities in non-book-entry form;
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an investor may not be able to pledge his or her interest in the global security in circumstances
where certificates representing the securities must be delivered to the lender or other beneficiary of the pledge in order for
the pledge to be effective;
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the depositary’s policies, which may change from time to time, will govern payments, transfers,
exchanges and other matters relating to an investor’s interest in the global security;
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we and any applicable trustee have no responsibility for any aspect of the depositary’s actions
or for its records of ownership interests in the global security, nor will we or any applicable trustee supervise the depositary
in any way;
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the depositary may, and we understand that DTC will, require that those who purchase and sell interests
in the global security within its book-entry system use immediately available funds, and your broker or bank may require you to
do so as well; and
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financial institutions that participate in the depositary’s book-entry system, and through
which an investor holds its interest in the global security, may also have their own policies affecting payments, notices and other
matters relating to the securities.
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There may be more
than one financial intermediary in the chain of ownership for an investor. We do not monitor and
are not responsible for the actions of any of those intermediaries.
Special Situations When A Global Security
Will Be Terminated
In a few special situations
described below, a global security will terminate and interests in it will be exchanged for physical certificates representing
those interests. After that exchange, the choice of whether to hold securities directly or in
street name will be up to the investor. Investors must consult their own banks or brokers to find
out how to have their interests in securities transferred to their own names, so that they will be direct holders.
We have described the rights of holders and street name investors above.
A global security
will terminate when the following special situations occur:
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if the depositary notifies us that it is unwilling, unable or no longer qualified to continue as
depositary for that global security and we do not appoint another institution to act as depositary within 90 days;
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if we notify any applicable trustee that we wish to terminate that global security; or
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if an event of default has occurred with regard to securities represented by that global security
and has not been cured or waived.
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The applicable prospectus
supplement may also list additional situations for terminating a global security that would apply only to the particular series
of securities covered by the applicable prospectus supplement. When a global security terminates,
the depositary, and neither we nor any applicable trustee, is responsible for deciding the names of the institutions that will
be the initial direct holders.
PLAN OF DISTRIBUTION
We may sell the securities
covered hereby from time to time pursuant to underwritten public offerings, direct sales to the public, negotiated transactions,
block trades or a combination of these methods. A distribution of these securities offered by this prospectus may also be effected
through the issuance of derivative securities, including without limitation, warrants and subscriptions. We may sell the securities
to or through underwriters or dealers, through agents, or directly to one or more purchasers. We may distribute securities from
time to time in one or more transactions:
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at a fixed price or prices, which may be changed;
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at market prices prevailing at the time of sale;
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at prices related to such prevailing market prices; or
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We may also sell equity
securities covered by this registration statement in an “at the market offering” as defined in Rule 415 under the Securities
Act. Such offering may be made into an existing trading market for such securities in transactions at other than a fixed price,
either:
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on or through the facilities of The Nasdaq Global Market or any other securities exchange or quotation
or trading service on which such securities may be listed, quoted or traded at the time of sale; and/or
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to or through a market maker other than on The Nasdaq Global Market or such other securities exchanges
or quotation or trading services.
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Such at-the-market
offerings, if any, may be conducted by underwriters acting as principal or agent.
A prospectus supplement
or supplements (and any related free writing prospectus that we may authorize to be provided to you) will describe the terms of
the offering of the securities, including, to the extent applicable:
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the name or names of any underwriters, dealers or agents, if any;
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the purchase price of the securities and the proceeds we will receive from the sale;
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any options under which underwriters may purchase additional securities from us;
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any agency fees or underwriting discounts and other items constituting agents’ or underwriters’
compensation;
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any public offering price;
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any discounts or concessions allowed or reallowed or paid to dealers; and
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any securities exchange or market on which the securities may be listed.
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Only underwriters
named in the prospectus supplement are underwriters of the securities offered by the prospectus supplement.
If underwriters are
used in the sale, they will acquire the securities for their own account and may resell the securities from time to time in one
or more transactions at a fixed public offering price or at varying prices determined at the time of sale. The obligations of the
underwriters to purchase the securities will be subject to the conditions set forth in the applicable underwriting agreement. We
may offer the securities to the public through underwriting syndicates represented by managing underwriters or by underwriters
without a syndicate. Subject to certain conditions, the underwriters will be obligated to purchase all of the securities offered
by the prospectus supplement, other than securities covered by any option to purchase additional securities. Any public offering
price and any discounts or concessions allowed or reallowed or paid to dealers may change from time to time. We may use underwriters
with whom we have a material relationship. We will describe in the prospectus supplement, naming the underwriter, the nature of
any such relationship.
We may sell securities
directly or through agents we designate from time to time. We will name any agent involved in the offering and sale of securities,
and we will describe any commissions and other compensation we will pay the agent in the prospectus supplement. Unless the prospectus
supplement states otherwise, our agent will act on a best-efforts basis for the period of its appointment.
We may authorize agents
or underwriters to solicit offers by certain types of institutional investors to purchase securities from us at the public offering
price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified
date in the future. We will describe the conditions to these contracts and the commissions we must pay for solicitation of these
contracts in the prospectus supplement.
We may provide agents
and underwriters with indemnification against civil liabilities related to this offering, including liabilities under the Securities
Act, or contribution with respect to payments that the agents or underwriters may make with respect to these liabilities. Agents
and underwriters may engage in transactions with, or perform services for, us in the ordinary course of business.
All securities we
may offer, other than common stock, will be new issues of securities with no established trading market. Any agents or underwriters
may make a market in these securities, but will not be obligated to do so and may discontinue any market making at any time without
notice. We cannot guarantee the liquidity of the trading markets for any securities. There is currently no market for any of the
offered securities, other than our common stock which is listed on the on The Nasdaq Global Market. We have no current plans for
listing of the debt securities, preferred stock, warrants or subscription rights on any securities exchange or quotation system;
any such listing with respect to any particular debt securities, preferred stock, warrants or subscription rights will be described
in the applicable prospectus supplement or other offering materials, as the case may be.
Any underwriter may
engage in overallotment, stabilizing transactions, short covering transactions and penalty bids in accordance with Rule 103 of
Regulation M under the Exchange Act. Overallotment involves sales in excess of the offering size, which create a short position.
Stabilizing transactions permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified
maximum. Short covering transactions involve purchases of the securities in the open market after the distribution is completed
to cover short positions. Penalty bids permit the underwriters to reclaim a selling concession from a dealer when the securities
originally sold by the dealer are purchased in a stabilizing or covering transaction to cover short positions. Those activities
may cause the price of the securities to be higher than it would otherwise be. If commenced, the underwriters may discontinue any
of the activities at any time. These transactions may be effected on any exchange or over-the-counter market or otherwise.
Any agents and underwriters
who are qualified market makers on The Nasdaq Global Market may engage in passive market making transactions in the securities
on The Nasdaq Global Market in accordance with Rule 103 of Regulation M, during the business day prior to the pricing of the offering,
before the commencement of offers or sales of the securities. Passive market makers must comply with applicable volume and price
limitations and must be identified as passive market makers. In general, a passive market maker must display its bid at a price
not in excess of the highest independent bid for such security; if all independent bids are lowered below the passive market maker’s
bid, however, the passive market maker’s bid must then be lowered when certain purchase limits are exceeded. Passive market
making may stabilize the market price of the securities at a level above that which might otherwise prevail in the open market
and, if commenced, may be discontinued at any time.
In compliance with
guidelines of the Financial Industry Regulatory Authority, or FINRA, the maximum consideration or discount to be received by any
FINRA member or independent broker dealer may not exceed 8% of the aggregate amount of the securities offered pursuant to this
prospectus and any applicable prospectus supplement.
LEGAL MATTERS
Unless otherwise indicated
in the applicable prospectus supplement, certain legal matters in connection with the offering and the validity of the securities
offered by this prospectus, and any supplement thereto, will be passed upon by Cooley LLP.
EXPERTS
Ernst & Young
LLP, independent registered public accounting firm, has audited our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019, and the effectiveness of our internal control over financial reporting as of
December 31, 2019, as set forth in their reports, which are incorporated by reference in this prospectus and elsewhere in the registration
statement. Our financial statements and our management’s assessment of the effectiveness of internal control over financial
reporting as of December 31, 2019 are incorporated by reference in reliance on Ernst & Young LLP’s reports, given on
their authority as experts in accounting and auditing.
WHERE YOU CAN FIND MORE
INFORMATION
This prospectus is
part of a registration statement we filed with the SEC. This prospectus does not contain all of the information set forth in the
registration statement and the exhibits to the registration statement. For further information with respect to us and the securities
we are offering under this prospectus, we refer you to the registration statement and the exhibits and schedules filed as a part
of the registration statement. Neither we nor the underwriters have authorized anyone to provide you with information that is different
from that contained in this prospectus or in any free writing prospectus we may authorize to be delivered or made available to
you. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may
give you. We are not making an offer of these securities in any state where the offer is not permitted. You should not assume that
the information in this prospectus is accurate as of any date other than the date on the front page of this prospectus, regardless
of the time of delivery of this prospectus or any sale of the securities offered by this prospectus.
We file annual, quarterly
and current reports, proxy statements and other information with the SEC. You may read and copy the registration statement, as
well as any other document filed by us with the SEC, at the SEC’s Public Reference Room at 100 F Street NE, Washington, D.C.
20549. You can also request copies of these documents by writing to the SEC and paying a fee for the copying cost. You may obtain
information on the operation of the Public Reference Room by calling the SEC at (800) SEC-0330. The SEC maintains a website that
contains reports, proxy statements and other information regarding issuers that file electronically with the SEC, including Chimerix.
The address of the SEC website is www.sec.gov.
We maintain a website
at www.chimerix.com. Information contained in or accessible through our website does not constitute a part of this prospectus.
INCORPORATION OF CERTAIN
INFORMATION BY REFERENCE
The SEC allows us
to “incorporate by reference” information into this prospectus, which means that we can disclose important information
to you by referring you to another document filed separately with the SEC. The SEC file number for the documents incorporated by
reference in this prospectus is 001-35867. The documents incorporated by reference into this prospectus contain important information
that you should read about us.
The following documents
are incorporated by reference into this document:
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our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and filed with the SEC
on February 25, 2020;
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our
Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2020 and June 30, 2020, which were filed with
the SEC on May
5, 2020 and August 10, 2020, respectively;
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the description of our common stock, which is registered under Section 12 of the Exchange Act,
in our registration statement on Form 8-A, filed with the SEC on April 5, 2013, including any amendments or reports filed for the
purpose of updating such description.
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We also incorporate
by reference into this prospectus all documents (other than current reports furnished under Item 2.02 or Item 7.01 of Form 8-K
and exhibits filed on such form that are related to such items) that are filed by us with the SEC pursuant to Sections 13(a), 13(c),
14 or 15(d) of the Exchange Act (i) after the date of the initial filing of the registration statement of which this prospectus
forms a part and prior to effectiveness of the registration statement, or (ii) after the date of this prospectus but prior to the
termination of the offering. These documents include periodic reports, such as Annual Reports on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K, as well as proxy statements.
We will provide to
each person, including any beneficial owner, to whom a prospectus is delivered, without charge upon written or oral request, a
copy of any or all of the documents that are incorporated by reference into this prospectus but not delivered with the prospectus,
including exhibits which are specifically incorporated by reference into such documents. You should direct any requests for documents
by writing us at 2505 Meridian Parkway, Suite 100, Durham, North Carolina 27713 or telephoning us at (919) 806-1074.
Any statement contained
herein or in a document incorporated or deemed to be incorporated by reference into this document will be deemed to be modified
or superseded for purposes of the document to the extent that a statement contained in this document or any other subsequently
filed document that is deemed to be incorporated by reference into this document modifies or supersedes the statement.
$75,000,000
Common Stock
PROSPECTUS SUPPLEMENT
Joint Book-Running
Managers
Jefferies
Cowen
Lead Manager
H.C. Wainwright & Co.
Co-Manager
JonesTrading
January ,
2021
Chimerix (NASDAQ:CMRX)
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