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Summary
- Stocks of biotech company Chimerix Inc and semiconductor manufacturer Infineon Technologies AG (OTCQX:IFNNY) rallied in North American markets on Monday morning.
- Chimerix shares galloped by nearly 70 per cent in Friday’s trading as it announced its decision to acquire fellow cancer research biotech firm Oncoceutics Inc.
- Infineon saw its stocks leapt by over six per cent on Friday.
Stocks of biotech company Chimerix Inc (NASDAQ: CMRX, CMRX:US) and semiconductor manufacturer Infineon Technologies AG (OTCQX: IFNNY, IFNNF:US) are on fire following new developments. While Chimerix shares galloped by nearly 70 per cent in Friday’s trading, Infineon saw its stocks leap by over six per cent on January 8.
Let’s take a closer look at the two companies’ latest performances.
Chimerix Inc’s Latest Acquisition
Chimerix’s stock price surge on Friday came as it announced its decision to acquire cancer research and biotechnology firm, Oncoceutics Inc. The US$ 78-million deal will see a transaction in both Chimerix stocks and cash, US$ 25 million of which will be paid upon the completion of the deal.
The Durham-based company added that Oncoceutics is currently working on the clinical trial of its lead candidate ONC-201, an orally administered treatment meant to fight an aggressive form of brain cancer known as recurrent glioma. The ONC-201 program is expected to show crucial data by this year.
Chimerix has struggled over the past year following disappointing results from the clinical trials for its antiviral medication ‘brincidofovir’. With Oncoceutics' pipeline of trials, the company is attempting to undo some of its loses.
©Kalkine Group 2021
Infineon Technologies’ A Market Leader?
Infineon stocks began to soar on Friday following the news that a study from last year projects the company as a leader in the micro-electromechanical system (MEMS) microphones market based on MEM chip unit sales. The study, conducted by tech research firm Omdia, said that Infineon is at the top spot with a nearly four per cent lead from the second place and over 37 per cent ahead of the third spot.
Shares of this German company have risen steadily since the March lows last year, climbing over 76 per cent in the last six months and about 74 per cent in 2020.
