Health and Healthcare
Chimerix Makes a Couple Big Changes at the Top
Published:
Last Updated:
News of changes to its executive team boosted Chimerix Inc. (NASDAQ: CMRX) shares on Tuesday. Specifically, the firm announced the appointment of Michael A. Sherman as chief executive of Chimerix, effective immediately. Additionally, Chimerix has appointed Michael T. Andriole to the newly created position of chief business officer.
Sherman previously served as CEO of Endocyte until its acquisition by Novartis in December 2018 for $2.1 billion. Prior to joining Endocyte in 2006, Sherman served in various executive roles, most recently as Vice President of Finance and Strategic Planning of Guidant, a cardiovascular device manufacturer acquired by Boston Scientific.
Andriole was the former chief financial officer of Endocyte. Before joining Endocyte in 2017, Andriole was a member of Eli Lilly’s corporate development leadership team with responsibility for international transactions.
Martha J. Demski, chair of the Chimerix board of directors, commented:
We are delighted to welcome Mike Sherman and Mike Andriole to our executive management team. This pair has a proven track record of successfully developing valuable clinical assets, and we believe Chimerix will significantly benefit from the strategic and operational experience they will bring the company. This seasoned team has demonstrated their ability to unlock value while bringing important therapeutics to patients in need.
In connection with the hiring of Sherman and Andriole, on April 8, 2019, Chimerix’s board granted Sherman a stock option to purchase 1.25 million shares of Chimerix common stock and Andriole a stock option to purchase 500,000 shares of the common stock.
Shares of Chimerix were last seen up about 20% at $2.51, with a 52-week range of $1.74 to $5.22. The stock has a consensus analyst price target of $3.80.
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
