Chimerix Shares Jump After Smallpox Drug Supply Deal
August 29 2022 - 10:57AM
Dow Jones News
By Dean Seal
Chimerix Inc. shares were up 19% to $2.58 on Monday after the
company said it had signed a deal with the federal government to
deliver up to 1.7 million smallpox treatment courses over the next
10 years.
The biopharmaceutical company said it reached the multi-year
deal with the Biomedical Advanced Research and Development
Authority, an office within the U.S. Department of Health and Human
Services. The deal includes an initial procurement of 319,000
courses of its Tembexa treatment for about $115 million and options
for future procurements.
The 10-year contract is valued at about $551 if the government
exercises all of its options. It also supports $13 million in
post-marketing activities for each procurement, giving the contract
a potential value of up to $680 million, Chimerix said.
Tembexa is a two-dose oral regimen approved as a smallpox
treatment for all ages, including infants.
"Our collaboration with BARDA for the development of Tembexa has
provided the United States government with a second therapeutic
option to ensure the federal government's readiness for a potential
smallpox emergency," Chief Executive Mike Sherman said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
August 29, 2022 11:42 ET (15:42 GMT)
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