Boston, MA 03/14/2014 (wallstreetpr) – Chimerix Inc. (NASDAQ:CMRX)’s stock has been rising in the market by as much as 18.2% after the company received an approval from the FDA, for the use of one of its pill to try and save the life a 7 year old boy who is suffering from a viral infection.
Chimerix Inc. (NASDAQ:CMRX) will enroll the boy as its first patient in a 20 patient pilot trial for its open label brincidofir (CMX001) drug. The drug is essentially used to treat adenovirus infections in patients with failing immune systems. The drug has officially been approved by the FDA and will be used as the last means of action in the attempt of saving the dying baby.
The approval comes at the back of increased attention and lobbying from the general public, a move that has essentially forced FDA to stem into actions its compassionate user policy that allows drug makers to administer un-approved treatments to patients in life threatening conditions.
Chimerix Fourth quarter and full year results
Chimerix Inc. (NASDAQ:CMRX) last updated its financial results for the fourth quarter and full year on March 7, 2014 in which the company reported a net loss of $8.2 million for the fourth quarter. This was almost double the net loss of $4.3 million reported in 2012 same quarter.
Revenue for the fourth quarter came in at $879,000 a massive drop compared to a high of $3.6 million for the same period the prior year. Research and development expenses on the other hand came in at $6.3 million. Loss from operations for the quarter came in at $8 million with the pharmaceutical company reporting a balance sheet of $110 million as of close of business on December 31, 2013.
Full year net loss came in at $36.4 million compared to a net loss of $4.4 million in 2012, revenues for the year dropped to $4.4 million down from a high of $33.7 million reported in 2012.
Chimerix Inc. (NASDAQ:CMRX) was up in Thursday trading session closing the day at a high of $26.40 after moving up by a high of 7.40%
