Q2 2024 Chimerix Inc Earnings Call Transcript
Key Points
- Chimerix Inc (CMRX) is making meaningful progress in the Phase 3 ACTION study for dordaviprone, with the first interim overall survival readout expected in Q3 2025.
- The company has initiated the second step in the provisional registration process for dordaviprone in Australia, potentially accelerating commercial access.
- Positive safety and pharmacokinetic (PK) data for ONC206, with no dose-limiting toxicities observed thus far.
- Chimerix Inc (CMRX) has a strong cash position with over $171 million in cash and cash equivalents, expected to last into Q4 2026.
- The company is maintaining tight control on general and administrative expenses, which have remained flat year-on-year.
- Chimerix Inc (CMRX) reported a net loss of $20.7 million for Q2 2024, an increase from $18.6 million in Q2 2023.
- Research and development expenses increased to $18.4 million in Q2 2024, driven by spending on the ACTION study.
- The commercial opportunity for dordaviprone in Australia is relatively small compared to the US and EU.
- The company expects operating expenses to increase modestly in the coming quarters due to investments in launch readiness.
- Screen failure rates for the Phase 3 ACTION trial are consistent but highlight the challenges in enrolling patients with specific criteria.
Good morning, ladies and gentlemen, and welcome to the Chimerix second quarter 2024 earnings conference call.
I would now like to introduce to you to your host for today's call Will O'Connor of Stern Investor Relations. Please proceed.
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Thank you, operator. Good morning, everyone, and welcome to the Chimerix second quarter 2024 financial and operating results conference call. This morning, we issued a press release related to our second quarter operating update. You can access the press release in our Investors section of the Chimerix website.
With me on today's call are President and Chief Executive Officer, Mike Andriole; Chief Financial Officer, Michelle LaSpaluto; and Chief Technology Officer, Josh Allen. We also have Allen Melemed, our Chief Medical Officer; and Tom Riga, our Chief Operating and Commercial Officer for question.
Before we begin, I'd like to remind you that the statements made on today's call will include forward-looking statements within
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