Chimerix, Inc. (NASDAQ: CMRX) disclosed that it has bought a clinical-stage biotechnology firm Oncoceutics, Inc. As per the acquisition, Chimerix is obliged to pay $78 million to the shareholders of Oncoceutics. $39 million is to be paid in Chimerix stock and the remaining $39 million shall be payable in cash, based on compliance with the particular requirements.
Chimerix is planning to expand its channel with a late-stage oncology program. Oncoceutics is currently conducting a study on its candidate, ONC201. The study has shown that the firms’ candidate is proven to be useful in eliminating multiple cancer cells.
Shares of Chimerix (NASDAQ: CMRX) traded up 69.08% during the trading session of Friday. In the past 52-weeks of trading, this firm's share went from a low point around $1.19 to briefly over $5.52. Its shares moved up 607.56% and 52.54% from its 52-weeks low and 52-weeks high.
Looking at its profitability, it as return on investment, equity, and assets is -105.20%, -36.50%, and -33.50%, respectively. Turning our focus on its liquidity, it has a current ratio of 12.20 and a quick ratio is also 12.20. Chimerix’s market cap has remained high, hitting $530.63 million at the time of writing.
The Boards of Directors of both firms have endorsed the deal and the deal completed concurrently with the finishing of definitive contracts on January 7, 2021.