Chimerix Announces Pricing of Public Offering of Common Stock
January 20 2021 - 8:02PM
Chimerix, Inc. (Nasdaq: CMRX), a biopharmaceutical company
focused on accelerating the development of medicines to treat
cancer and other serious diseases, announced today the pricing of
its underwritten public offering of 11,765,000 shares of its common
stock at a price to the public of $8.50 per share. All of the
shares to be sold in the offering are being sold by Chimerix. The
gross proceeds to Chimerix from the offering, before deducting the
underwriting discounts and commissions and other offering expenses,
are expected to be $100.0 million. In addition, Chimerix has
granted the underwriters a 30-day option to purchase up
to an additional 1,764,750 shares of common stock at the public
offering price, less underwriting discounts and commissions. The
offering is expected to close on or about January 25, 2021.
Chimerix intends to use the net proceeds from the proposed
offering to fund the clinical development of its product
candidates, commercial pre-launch activities and general corporate
purposes.
Jefferies and Cowen are acting as joint bookrunning managers for
the offering. H.C. Wainwright & Co. is acting as lead manager
for the offering and JonesTrading is acting as co-manager for the
offering.
The securities described above are being offered by Chimerix
pursuant to a shelf registration statement previously filed and
declared effective by the Securities and Exchange Commission (SEC)
(File No. 333-244146). A preliminary prospectus supplement and the
accompanying prospectus relating to and describing the terms of the
offering have been filed with the SEC and are available on the
SEC’s website at www.sec.gov. When available, copies of the final
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained from: Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by telephone at
(877) 821-7388 or by email at
prospectus_department@jefferies.com; or from Cowen and Company,
LLC, c/o Broadridge Financial Solutions, Attention: Prospectus
Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by
telephone at (833) 297-2926, or by email at
PostSaleManualRequests@broadridge.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Chimerix
Chimerix is a development-stage biopharmaceutical company
dedicated to accelerating the advancement of innovative medicines
that make a meaningful impact in the lives of patients living with
cancer and other serious diseases. Our three most advanced
clinical-stage development programs are, brincidofovir (BCV),
ONC201 and dociparstat sodium (DSTAT). BCV is an antiviral drug
candidate developed as a potential medical countermeasure for
smallpox and is currently under review for regulatory approval in
the United States. ONC201 is currently in a registrational clinical
trial for recurrent H3 K27M-mutant glioma and a confirmatory
response rate assessment is expected later this year. DSTAT is in
development as a potential first-line therapy in acute myeloid
leukemia and as a potential treatment for acute lung injury in
COVID-19 patients.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "predicts," "believes," "potential,"
"proposed," "continue," "estimates," "anticipates," "expects,"
"plans," "intends," "may," "could," "might," "will," "should" or
other words that convey uncertainty of future events or outcomes to
identify these forward-looking statements. These statements are
based on the company’s current beliefs and expectations. Such
forward-looking statements include, but are not limited to,
statements relating to Chimerix’s expectations of market conditions
and the satisfaction of customary closing conditions related to the
public offering, the expected closing of the offering and the
anticipated use of proceeds therefrom. The inclusion of
forward-looking statements should not be regarded as a
representation by Chimerix that any of its plans will be
achieved. Actual results may differ from those set forth in
this press release due to the risks and uncertainties inherent in
Chimerix’s business, including, without limitation: the risks and
uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
proposed public offering, the risks and uncertainties inherent in
Chimerix’s business, including risks that the current Phase 2
clinical trial data for ONC201 will not support accelerated, or
any, regulatory approval; the anticipated benefits of Chimerix’s
acquisition of Oncoceutics, Inc. may not be realized;
DSTAT and BCV may not obtain regulatory approval from the FDA or
such approval may be delayed or conditioned; risks
that Chimerix will not obtain a procurement contract for
BCV in smallpox in a timely manner or at all; Chimerix’s
reliance on a sole source third-party manufacturer for drug supply;
risks that ongoing or future trials may not be successful or
replicate previous trial results, or may not be predictive of
real-world results or of results in subsequent trials; risks and
uncertainties relating to competitive products and technological
changes that may limit demand for Chimerix’s drugs; risks that
Chimerix’s drugs may be precluded from commercialization by the
proprietary rights of third parties; and the other risks described
in Chimerix’s prior press releases and the Company’s filings with
the Securities and Exchange Commission (SEC), including under the
heading “Risk Factors” in the Company’s Annual Report on
Form 10-K and any subsequent filings with the SEC. You
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, and Chimerix
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date
hereof.
CONTACT:Investor Relations:Michelle
LaSpaluto919 972-7115ir@chimerix.comWill O’ConnorStern Investor
Relations212-362-1200will@sternir.comMedia:David SchullRusso
Partners858-717-2310David.Schull@russopartnersllc.com
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