On Tuesday, Jazz Pharmaceuticals plc ( JAZZ ) agreed to acquire Chimerix Inc ( CMRX ) for $8.55 per share in cash, representing a total consideration of approximately $935 million.

Both companies have approved the transaction, and it is expected to close in the second quarter of 2025.

Chimerix’s lead clinical asset is dordaviprone, a novel first-in-class small molecule treatment in development for H3 K27M-mutant diffuse glioma, a rare brain tumor most commonly affecting children and young adults.

Also Read: FDA Greenlights Jazz Pharma’s Cancer Drug, A Milestone For Zymework

In February, the FDA accepted Chimerix’s New Drug Application, seeking accelerated approval for dordaviprone, as a treatment for patients with recurrent H3 K27M-mutant diffuse glioma.

The application has been granted Priority Review and assigned a Prescription Drug User Fee Act (PDUFA) target action date of August 18, 2025. The FDA does not currently plan to hold an advisory committee meeting to discuss the application.

Separately, dordaviprone is being studied in the ongoing Phase 3 ACTION trial, evaluating its use in newly diagnosed, non-recurrent H3 K27M-mutant diffuse glioma patients following radiation treatment.

The companies say it is a strategic fit to strengthen Jazz’s presence in the rare oncology space.

Price Action: CMRX is up 69.7% at $8.415, and JAZZ stock is up 0.33% at $139.40 during the premarket session at the last check Wednesday.

Read Next:

Nebius Announces 300 MW Data Center In New Jersey, Adds AI Capacity In Kansas City And Iceland

Image: Shutterstock