Biopharmaceutical company Chimerix missed earnings estimates slightly with a third-quarter net loss of 18 cents per basic and diluted share, up from a loss of $1.26 per basic and diluted share a year prior, the company announced Thursday.

Analysts had predicted a loss of 17 cents per share for the quarter. The company’s net loss for the quarter was $11.4 million, compared to $73.7 million in the third quarter last year.

Chimerix recently completed its rolling submissions to the Food and Drug Administration for the approval of brincidofovir, a smallpox drug. Chimerix said in a press release that this brings the company closer to its first regulatory approval. The company also said it plans to initiate its Phase 3 study of DSTAT, a therapy to treat acute myeloid leukemia, in early 2021.

“Throughout the third quarter we continued to make significant progress across a number of key initiatives,” CEO Mike Sherman said in the press release.

The company’s total current assets stood at $90.2 million, compared to $118 million on Dec. 31, 2019. The company saw an increase in cash and cash equivalents on hand during this time.

Chimerix also had more operating costs related to research and development in third-quarter 2020 — $10 million, compared to $7.4 million a year prior. Overall, the company’s total operating expenses fell to $13.1 million in third-quarter 2020 from $76.5 million in 2019, as it reported no expenses in the “acquired in-process research and development” category.

Chimerix’s loss from operations fell to $11.5 million from $74.5 million year-over-year for the third quarter. The company’s revenues were at $1.6 million for the third-quarter 2020, down from $1.9 million in 2019.

Shares of Chimerix stock were trading at $3.15 Thursday morning, up 9 cents, or 2.94 percent.