DURHAM – Biopharmaceutical firm Chimerix is looking to raise as much as $86 million through a stock offering, the company announced Tuesday after markets closed.
Chimerix (Nasdaq: CMRX) fell sharply after the initial news then rallied in after-hours trading back to near Tueday’s closing price of $8.10.
“Chimerix intends to use the net proceeds from the proposed offering to fund the clinical development of its product candidates, commercial pre-launch activities and for general corporate purposes,” the company said in a statement.
The sole seller of stock is Chimerix. It plans to offer as much as $75 million in shares, and underwriters will have options to purchase another $11.2 million in shares.