Chimerix Posts Wider-than-expected Q1 Loss; Revenues Miss - Quick Facts

(RTTNews) - Chimerix Inc. (CMRX), a biopharmaceutical company developing oral antivirals, reported Friday that its first-quarter net loss was $10.4 million, compared to net loss of $9.1 million a year ago.

Loss per share was $0.39 based on 26.76 million shares, while last year's loss per share was $22.58 based on 1.53 million shares.

On average, four analysts polled by Thomson Reuters expected the company to report loss of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the first quarter decreased to $780 thousand from $1.77 million last year, while analysts were looking for $850 thousand.

The company attributed the lower revenues to a decrease in reimbursable expenses associated with Chimerix's ongoing contract with the Biomedical Advanced Research and Development Authority or BARDA.

Research and development expenses were $8.3 million, compared to $6.8 million in 2013. This increase is primarily due to the effect of increased costs related to the ongoing enrollment of the Phase 3 SUPPRESS trial and growth of the Company's clinical, regulatory, and development groups.

Loss from operations was $10.2 million, compared to a loss from operations of $6.5 million a year ago.