Chimerix, Inc. (CMRX) Soared Last Week
Chimerix, Inc. (NASDAQ:CMRX), a biopharmaceutical company, experienced a significant surge in share price last week, jumping 60.5 percent to $8.43 per share, following the announcement of its acquisition by Jazz Pharmaceuticals for $935 million. The deal grants Jazz access to Chimerix's clinical asset dordaviprone, a novel treatment for H3 K27M-mutant diffuse glioma, a rare and high-grade brain tumor. The acquisition is expected to be completed in the second quarter of this year.
- This acquisition highlights the growing trend of pharmaceutical companies partnering with biotech firms to accelerate the development and commercialization of innovative treatments, underscoring the increasing importance of collaborations in the healthcare industry.
- As Chimerix's share price has surged, investors may now wonder whether the company's future prospects are sufficiently aligned with its valuation, and if the acquisition by Jazz will be enough to justify the current stock price.