Chimerix: When Good Is Bad In Biotech

From a $2 billion valuation to less than $300 million in five months, Chimerix (of Josh Hardy fame) is a standout among biotech stocks, for the wrong reason. While the markets have not been kind to the sector in general, CMRX has lost 90% of its value over the last five months compared to 35% for the NASDAQ Biotech Index Fund. The stock dropped another 35% Monday after the company made the case that brincidofovir, which failed a late-stage study last year, still has potential.