Chimerix Announces Completion of Public Offering of Common Stock and Exercise in Full of Option to Purchase Additional Shares of Common Stock
DURHAM, N.C., May 27, 2014 (GLOBE NEWSWIRE) — Chimerix, Inc. (Nasdaq:CMRX), a biopharmaceutical company developing novel, oral antivirals in areas of high unmet medical need, today announced the completion of an underwritten public offering of 8,395,000 shares of its common stock, including 1,095,000 shares sold pursuant to the full exercise of an option previously granted to the underwriters to purchase additional shares of common stock. All of the shares were offered by Chimerix at a price to the public of $14.22 per share. The gross proceeds to Chimerix from this offering, before deducting underwriting discounts and commissions and other offering expenses payable by Chimerix, were approximately $119.4 million. Chimerix anticipates using the net proceeds from the offering to fund its research and development efforts and for general corporate purposes, including working capital.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC acted as joint book-running managers for the offering, Cowen and Company, LLC acted as co-lead manager for the offering, and William Blair & Company, L.L.C. and Canaccord Genuity Inc. acted as co-managers for the offering.
The securities described above were offered by Chimerix pursuant to a shelf registration statement (including a prospectus) previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on May 16, 2014. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available for free on the SEC’s website at http://www.sec.gov, or alternatively from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Chimerix is committed to the discovery, development and commercialization of novel, oral antiviral therapeutics designed to transform patient care in areas of high unmet medical need. Chimerix was founded in 2000 based on the promise of its proprietary lipid technology to unlock the antiviral potential of some of the most broad-spectrum antivirals by enhancing their antiviral activity and safety profiles in convenient, orally administered dosing regimens. Chimerix’s lead product candidate, brincidofovir (CMX001), is an oral nucleotide analog that has shown broad-spectrum antiviral activity against all five families of dsDNA viruses that affect humans, including cytomegalovirus (CMV), adenovirus (AdV), BK virus and herpes simplex viruses. In addition, Chimerix has an active discovery program leveraging its lipid technology and the Chimerix Chemical Library, both focusing on viral targets in areas of high unmet medical need.
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties such as those, among others, relating to Chimerix’s expectations regarding the application of the net proceeds from the offering. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with Chimerix’s business and finances in general, and the other risks described in Chimerix’s annual report on Form 10-K for the year ended December 31, 2013, quarterly report on Form 10-Q for the quarter ended March 31, 2014 and other filings with the SEC. Chimerix undertakes no obligation to update the statements contained in this press release after the date hereof.
Joseph T. Schepers
Executive Director, Investor Relations and Corporate Communications