(24/7 MARKET NEWS) – Chimerix (NASDAQ:CMRX) popped after announcing that it signed a multi-year contract with the Biomedical Advanced Research and Development Authority (BARDA), in the HHS’s Administration for Strategic Preparedness and Response (ASPR), for the delivery of up to 1.7 million treatment courses of tablet and suspension formulations of TEMBEXA(R) to the U.S. government.
After hitting a high of $2.68, following the news, Chimerix is at $2.47, 31 cents higher (+14.35%), on nearly 30 million shares.
The 10-year contract, 75A50122C00047, includes an initial product procurement of 319,000 treatment courses for approximately $115 million and contains options for future procurements, valued at approximately $551 million in total if BARDA elects to exercise all options, and post-marketing activities budget of approximately $13 million, for a total potential contract value of up to $680 million.
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