Chimerix climbs 14% as Rubric Capital reports 8.5% stake, liquidation in sight

Nov. 10, 2022 3:40 PM ETCMRXBy: Manshi Mamtora, CFA
  • Chimerix (CMRX) jumps 14% on reports that Rubric Capital reports a 8.5% stake.
  • The schedule is filed by Rubric Capital Management where David Rosen is a managing member.
  • Rubric Capital wrote a letter citing, 'the Board must simultaneously begin a winddown process to maximize liquidation value available to shareholders and commence a strategic alternatives process for ONC201. The market appears to agree with us, as simply liquidating the company would result in a return of up to 125% from the close on Tuesday, November 8th.'
  • Stock trades 14% higher on Thursday.
  • Form SC 13D

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