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Occasionally my predictions about the short-term behavior of a stock end up being so accurate that I have to wonder if I'm on the way to becoming an oracle of sorts, or whether it's simply a matter of making so many predictions that a few have to be correct. I don't have to look hard to find many examples where stocks did exactly the opposite of what I predicted, but for companies like Synta and Novogen it seems like I can do no wrong. Let's see if I can add Chimerix to that category with a third bold pitch.The brincidofovir controversy is over, for now. I thought the company handled the situation well but the CEO lost his job for reasons that are unclear to me. Obviously, more went on behind the scenes of that sad controversy than a retail investor could be expected to know. Possibly because of uncertainty related to the management change, Chimerix's share price has declined past the point I would have expected simply due to momentum traders moving on to other hot stocks. Given that brincidofovir appears to have been much more successful in the Josh Hardy case than anyone expected, I think Chimerix is primed for a rebound as long as the biopharma sector doesn't continue to tank wholesale. In the meantime, it will be interesting to see if more patients are enrolled in the brincidofovir trial that was cobbled together to resolve the Josh Hardy controversy or if it was just a charade calculated to get Chimerix and the FDA out of an impossible PR hole.
Anyone tracking the story about Chimerix in the news? Negative publicity about denying a 7-yr old medicine.
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