In part to fund a drug trial initiated because of public pressure, Durham’s Chimerix will sell 6.2 million shares in hopes of raising at least $60 million. In filings made after the stock market closed Monday, Chimerix (Nasdaq: CMRX) announced it would sell the additional shares in part to fund a clinical trial to test its lead drug candidate, brincidofovir, on treating an adenovirus infection. Chimerix had focused its development of brincidofovir on treating double-stranded DNA (dsDNA) viral infections, including cytomegalovirus and adenovirus, that are common in transplant patients.
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