Chimerix cuts workforce by 25% to focus on oncology pipeline

Dec. 08, 2022 5:29 PM ETChimerix, Inc. (CMRX)EBSBy: Jonathan Block, SA News Editor

Person Cutting Headcount Using Scissors

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  • Chimerix (NASDAQ:CMRX) will eliminate 25% of its workforce in order to focus resources on its oncology pipeline and other development.
  • The biopharma also said the reduction was due to the near completion of transitioning rights to its oral smallpox antiviral Tembexa (brincidofovir) to Emergent BioSolutions (EBS).
  • Chimerix (CMRX) also said it began the phase 3 ACTION study examining ONC201 for gliomas. The candidate is also in phase 2 for neuroendocrine tumors.
  • In phase 1, the company has ONC206 for solid tumors.
  • Check out why Seeking Alpha contributor Out of Ignorance views Chimerix (CMRX) as a hold.

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