Why Chimerix Inc (NASDAQ:CMRX)’s Shares Plunged?

Benjamin Roussey - October 9, 2014

Boston, MA 10/09/2014 (wallstreetpr) – Chimerix Inc (NASDAQ:CMRX) shares ended Wednesday’s trading session in red as a patient in Dallas who was undergoing the experimental treatment of Chimerix for Ebola died. It is a big disappointment for Chimerix as it received the FDA approval for treating Thomas Duncan on Tuesday. He was just started with the treatment of experimental drug brincidofovir. Duncan was the first individual diagnosed with Ebola in the U.S.

The story

Thomas Eric Duncan came from Liberia on September 20. On September 24, he showed symptoms of the deadly virus and was admitted to Texas Health Resources Hospital for treatment. He was treated in the Texas hospital for two days and later sent back to home. He was again admitted in the Texas hospital on September 28, and it was then he was diagnosed with Ebola. As and when the health officials came to know, they quarantined the people who had direct contact with Thomas Duncan. He flied from Liberia to the U.S. for attending the high-school graduation ceremony of his son. As per the report, he may have contracted Ebola when he was taking an ill neighbor to the hospital in Liberia.

The treatment

Duncan was treated at Texas Health Resources Hospital. The doctors used brincidofovir, the experimental drug developed by Chimerix Inc (NASDAQ:CMRX), for treating Duncan. However, the medication failed to slow the disease’s progress. On the request of doctors, the U.S. FDA granted brincidofovir the investigational status. The medication was then rushed for treatment of Duncan after the approval. The drug is used on one more patient suffering from Ebola. He is admitted at Nebraska hospital.

The change

Chimerix Inc (NASDAQ:CMRX) gained more than 5% on Tuesday when it received the FDA approval for its experimental drug to be used as an investigational drug. However, the gains turned into a loss after death of Duncan. The focus will now remain on the other patient who is admitted at Nebraska hospital and is treated with Chimerix’s experimental drug.

Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing. http://www.facebook.com/ben.rouss

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