Chimerix’s alignment with FDA on submission drives $935M takeout by Jazz

Three months after Chimerix revealed that its discussions with FDA outlined an unexpected path to accelerated approval of its brain cancer therapy, Jazz is buying the company for about $935 million.

The deal values Chimerix Inc. (NASDAQ:CMRX) at $8.55 per share, a premium of 72% over Tuesday’s close and roughly 10 times its value in early December. That was before the biotech announced that it intended to submit selective DRD2 antagonist dordaviprone (ONC201) for FDA approval to treat H3 K27M-mutant diffuse glioma, a hard-to-treat cancer that most often appears in pediatric patients and young adults...