Chimerix Net Loss Reduces In Q2 - Quick Facts

(RTTNews) - Chimerix Inc. (CMRX) reported a narrower net loss of $11.7 million, or $0.39 per share, for the second quarter of 2014, compared with a loss of $12.5 million, or $0.91 per share, last year.

Loss from operations was $11.6 million this quarter, versus a $7.7 million loss for the same period in 2013. This widening of loss is chiefly due to an increase in costs related to ongoing Phase 3 trials, the company said.

Second-quarter 2014 revenues edged up to $0.92 million, from $0.81 million for the same period in 2013, due to an increase in the second quarter of 2014 in reimbursable expenses associated with Chimerix's ongoing contract with the Biomedical Advanced Research and Development Authority or BARDA.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.44 per share and revenues of $740,000 for the period. Analysts' estimates typically exclude special items.