Chimerix, Inc. (NASDAQ:CMRX) Q2 2022 Earnings Conference Call August 8, 2022 4:30 PM ET

Company Participants

Michelle LaSpaluto – Vice President-Strategic Planning and Investor Relations

Mike Sherman – President and Chief Executive Officer

Allen Melemed – Chief Medical Officer

Mike Andriole – Chief Financial and Business Officer

Randall Lanier – Chief Science Officer

Josh Allen – Chief Technology Officer-Imipridones

Conference Call Participants

Maury Raycroft – Jefferies

Joseph Thome – Cowen

Ed White – H.C. Wainwright

Soumit Roy – Jones Research

Operator

Good afternoon, ladies and gentlemen, and welcome to the Chimerix Second 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 and good morning everyone. This afternoon we issue a press release on our second quarter operating update. You can access this press release in our Investors section of the website. With me on today's call, our 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 would 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 would like to turn the call over to our President and Chief Executive Officer, Mike Sherman.

Mike Sherman

Good afternoon, everyone. Thanks for joining us today. We've been busy the past few months, so let me get right to the details of the progress we've made and I'll start with TEMBEXA. In July, we marked a significant milestone recording our first TEMBEXA product revenue covered by two international agreements of $35 million in aggregate. This was only possible because we made the decision a couple of years ago to manufacture over 300,000 treatment courses of TEMBEXA at our own risk without a contract, somewhat atypical and biodefense space. Because of that decision, we were able to take advantage of this opportunity immediately completing contracts and shipping products in a matter of days. If you're looking to isolate and assess Chimerix's execution as it relates to creating and delivering on contracts, these are great examples. The same decision to manufacture product at risk will also position us to respond immediately to place TEMBEXA into the U.S. stockpile once the BARDA agreement is in place.