Chimerix, Inc. reported a net loss of $73.7 million in the third quarter, missing analysts’ estimates of a loss of $13.05 million, in a press release Tuesday.

Chimerix’s reported a net loss of $1.26 per diluted share, again under-performing compared to the analyst estimates of a loss of 22 cents per diluted share.

The bulk of Chimerix’s third-quarter costs, $65.0 million, came from acquired-in-process research and development the company said.

“The progress we have made over the last several months has positioned us well for the balance of the year and beyond,” said CEO Mike Sherman. “We have successfully transitioned our clinical pipeline to deliver a number of near-term, value-creating milestones.”

Chimerix is planning on initiating a Phase 3 clinical trial for DSTAT in mid-2020, subject to discussions with the FDA. DSTAT inhibits proteins implicated in the retention and viability of acute myeloid leukemia blasts and has received Fast Track and Orphan Drug Designations from FDA.

The company is looking to achieve several other milestones in 2020. Chimerix aims to submit a marketing application for brincidofovir (BCV) as a medical countermeasure for smallpox and a contract with BARDA to add BCV to the U.S. Strategic National Stockpile, said Sherman.

Chimerix is a biopharmaceutical company focused on developing medicines to treat cancer and other serious diseases. The company’s shares traded at $1.67 Thursday, up 13 cents.