Chimerix, Inc. (NASDAQ:CMRX) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET

Company Participants

Michelle LaSpaluto - Vice President-Strategic Planning & Investor Relations

Mike Sherman - Chief Executive Officer

Mike Andriole - Chief Business Officer & Chief Financial Officer

Allen Melemed - Chief Medical Officer

Conference Call Participants

Kevin Strang - Jefferies

Naureen Quibria - Capital One

Ed White - H.C. Wainwright

Joseph Thome - Cowen

Operator

Good morning, ladies and gentlemen, and welcome to the Chimerix Third Quarter 2022 Earnings Conference Call. I would now like to introduce you to your host for today's call Michelle LaSpaluto, Vice President of Strategic Planning and Investor Relations at Chimerix. Please proceed.

Michelle LaSpaluto

Thank you. Good morning, everyone and welcome to -- This morning we issued a press release on our third quarter operating update. You can access this press release in our Investors section of the website. With me on today's call are President and Chief Executive Officer, Mike Sherman; Chief Medical Officer, Allen Melemed; Chief Financial and Business Officer, Mike Andriole; Chief Science Officer, Randall Lanier; and our Chief Technology Officer of Imipridones, Josh Allen.

Before we begin, I'd like to remind you that the statements made on today's call include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to risks and uncertainties and other factors. These risks and uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. Please refer to our filings with the SEC for a more complete disclosure of these risks and uncertainties.

At this time, I'd like to turn the call over to our President and Chief Executive Officer, Mike Sherman.

Mike Sherman

Good morning, everyone and thanks for joining the call. The third quarter was really a watershed period for Chimerix. We recorded the company's first product revenues, secured substantial non-dilutive funding for our oncology development and gained clarity with the FDA on the design of our ONC201 Phase 3 ACTION study.

Together these milestones position Chimerix as an oncology-focused company with the financial resources to complete our late-stage program, while progressing our pipeline of promising early-stage assets. This is precisely where this management team has deep expertise and a track record of creating value for both patients and shareholders.

Let me begin with a brief recap of our sale of TEMBEXA to Emergent BioSolutions. As a result of some nimble and late-stage negotiations with BARDA, we were able to improve contract terms and increase the aggregate size of the contract and our upfront payment.