By Colin Kellaher
Shares of Chimerix hit a new 52-week high Tuesday after the biopharmaceutical company said the Food and Drug Administration granted a priority review for its proposed dordaviprone treatment for a certain type of brain tumor.
Shares of the Durham, N.C., company were recently changing hands at $4.99, up 14%, after touching a 52-week high of $5.12 early in the session.
Chimerix is seeking FDA approval of dordaviprone for patients with recurrent H3 K27M-mutant diffuse glioma, a form of high-grade glioma with few treatment options beyond palliative care.
The FDA grants priority review to medicines that have the potential to provide significant improvements in the treatment of a serious disease. The designation shortens the review period.
Chimerix said the FDA has set a target action date of Aug. 18, adding that the agency doesn't currently plan to hold an advisory committee meeting to discuss the application.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 18, 2025 10:38 ET (15:38 GMT)
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