Chimerix Stock Draws Heavy Retail Chatter After Landing Price-Target Hike On FDA Submission Plan For Cancer Drug

Shares of Chimerix Inc. (CMRX) more than tripled on Tuesday afternoon, reaching levels unseen in over two years, becoming one of the top 25 most active tickers on Stocktwits. 

The microcap biopharmaceutical company announced plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for Dordaviprone under the Accelerated Approval pathway by the end of the year. 

Dordaviprone is being developed as a treatment for certain patients with diffuse glioma, a rare and aggressive type of brain cancer.

Chimerix noted that Dordaviprone has received Rare Pediatric Disease Designation for H3 K27M-mutant glioma and said it intends to apply for a Rare Pediatric Disease Priority Review Voucher along with its NDA submission.

CEO Mike Andriole emphasized the potential impact of the drug, stating: “If approved, dordaviprone will fundamentally change the treatment landscape for patients suffering from this lethal form of brain cancer who have extremely limited treatment options.” 

“We have worked collaboratively with the U.S. FDA, disease experts and patient advocates throughout the year to potentially accelerate access to dordaviprone for this patient community,” he added.

The company also announced preparations for a potential U.S. launch by the third quarter of 2025, contingent on application acceptance and Priority Review.

Following the news, JonesResearch raised its price target on Chimerix to $7 from $5 while maintaining a ‘Buy’ rating. 

Analysts highlighted the company’s strategic focus on the U.S. NDA submission while halting Australian approval efforts.

CMRX sentiment and message volume Dec 10 as of 1:15 pm ET | source: Stocktwits

Retail sentiment for CMRX turned 'extremely bullish', with users on Stocktwits highlighting the stock’s potential for further gains.

Chimerix shares, whose message volume has spiked over 2,540% in the past week, have surged nearly 200% year-to-date.

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