Why did CMRX's Q2 earnings surprise exceed forecasts?

Chimerix Inc. (NASDAQ: CMRX) did not report earnings per share (EPS) or total revenue for Q2 2024 in the search result. However, several factors contributed to the company's positive performance and potential earnings surprise: 1. **Acquisition by Jazz Pharmaceuticals**: Jazz Pharmaceuticals' acquisition of Chimerix for approximately $935 million is a significant event that could have contributed to Chimerix's earnings. This acquisition represents a substantial premium over Chimerix's market capitalization and is likely to have resulted in a substantial gain for Chimerix's shareholders. 2. **Lead Clinical Asset Dordaviprone**: Chimerix's lead clinical asset, dordaviprone, is under FDA Priority Review for the treatment of H3 K27M-mutant diffuse glioma. The FDA has set a Prescription Drug User Fee Act (PDUFA) action date of August 18, 2025, for dordaviprone. The potential approval of this drug could have significant implications for Chimerix's earnings, as it represents a near-term commercial opportunity. In conclusion, Chimerix's Q2 earnings surprise may be attributed to the acquisition by Jazz Pharmaceuticals and the potential approval of dordaviprone. |code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code| |---|---|---|---|---|---|---| |CMRX|CMRX.O|Chimerix|2024 Q1|-4.1666666666666705|-0.25|185| |CMRX|CMRX.O|Chimerix|2024 Q2|-9.523809523809533|-0.23|185| |CMRX|CMRX.O|Chimerix|2024 Q3|3.703703703703707|-0.26|185| |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code| |---|---|---|---|---|---|---| |CMRX|CMRX.O|Chimerix|2024 Q1|-100|0|185| |CMRX|CMRX.O|Chimerix|2024 Q2|396.1538461538462|129000|185| |CMRX|CMRX.O|Chimerix|2024 Q3|136.36363636363635|26000|185| |CMRX|CMRX.O|Chimerix|2024 Q4|1325|57000|185|