Durham-based Chimerix beats Wall Street expectations
Durham, N.C. — Chimerix Inc., a pharmaceutical research company, exceeded Wall Street analysts’ expectations despite reporting a $15.4 million loss in the fourth quarter.
Durham-based Chimerix reported a net loss of 32 cents per diluted share, beating analysts’ estimates of a 39 cents loss per diluted share. During the same period in 2015, Chimerix suffered a loss of $38.2 million, or 82 cents per diluted share.
The pharmaceutical development group reported a fourth-quarter revenue of $2 million, beating the predicted revenue of $890,000.
For the year, Chimerix reported a net loss of $76.4 million, or $1.65 per diluted share, lower than the $117.4 million loss reported in 2015. Revenues for 2016 decreased to $5.7 million, compared to $10.8 million from the previous year.
Research and development expenses were $58.6 million for the year, lower than the $97.7 million reported in 2015. Loss from operations was $78 million, reduced from the $118.3 million reported last year.
Net interest income increased $700,000 from last year to $1.6 million.
Chimerix shares have climbed 25 percent since the beginning of the year, with stock increasing 17 percent in the last 12 months.
Chimerix shares closed at $5.97, up 20 cents, or 3.47 percent, on Thursday.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
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