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Chimerix ends first week of trading

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Chimerix, the Durham antiviral drug developer, closed at $18.17 per share to cap its first week as a publicly traded company.

Chimerix shares slipped 3.3 percent in Friday trading after a 34-percent surge Thursday, the day the stock went public. The strong response from investors helped Chimerix raise more than $102 million by offering the stock at $14 a share.

The 13-year-old company doesn’t have a prescription drug on the market, but investors have confidence in its experimental treatments for life-threatening viral infections in patients whose immune systems have been compromised by cancer or by drugs.

Chimerix was one of two Triangle companies that made IPO news Thursday. Morrisville-based ChannelAdvisor told the Securities and Exchange Commission it expects to raise as much as $86 million through a public offering.

Chimerix expects to net about $95 million from the stock sale after paying banking fees and commissions. The 46-employee company will use the money for research and development, debt payments and general operations.

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About the blogger

John Murawski has been a full-time newspaper reporter since 1991, with stints at Legal Times and The Chronicle of Philanthropy (both in Washington, DC), The Philadelphia Inquirer and The Palm Beach Post (in South Florida) before arriving at the N&O in December 2004. At the N&O he covers energy (nuclear, coal, renewable, efficiency), hydraulic fracturing (or "fracking"), public utilities and health care. His beat includes PSNC Energy, Piedmont Natural Gas, Duke Energy Progress, PowerSecure International, GlaxoSmithKline, Merck, Novo Nordisk, Pfizer, Biogen Idec and others. He has also contributed more than 30 book reviews on topics spanning botany, history, science and religion. You can reach him at 919-829-8932 or e-mail him.
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