10:51 AM EST, 03/05/2025 (MT Newswires) -- Chimerix ( CMRX ) was a prime acquisition candidate for Jazz Pharmaceuticals ( JAZZ ) due to dordaviprone's unique positioning and likely near-term approval to treat H3-K27M mutant glioma, Wedbush said in a note Wednesday.

Jazz said Wednesday it agreed to acquire Chimerix ( CMRX ) for $8.55 per share in an all-cash deal, about a 72% premium over its previous closing price and in-line with the estimated fair value of dordaviprone, the investment firm said.

There does not appear to be any antitrust issues because Jazz does not have a presence glioma, Wedbush said.

Wedbush downgraded Chimerix ( CMRX ) to neutral from outperform and raised its price target to $8.55, reflecting the cash tender offer.

Shares of Chimerix ( CMRX ) were up almost 69% in recent trading.

Price: 8.43, Change: +3.47, Percent Change: +69.96