BioCryst Pharmaceuticals, Inc.
) announced the receipt of additional funding from the National
Institute of Allergy and Infectious Diseases (NIAID) to advance
the development of the company's pipeline candidate, BCX4430.
NIAID has exercised an option, representing another $2.5 million
of funding to BioCryst, to develop BCX4430 for the treatment of
Marburg virus disease.
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We note that NIAID has already made an initial award of $5
million to BioCryst in Sep 2013. As per the contract, NIAID can
fund up to $22 million (in the event of all contract options
being excercised) over five years for BCX4430's development.
BioCryst's main purpose of collaborating with NIAID is to file an
investigational new drug (IND) application for BCX4430 for the
treatment of Marburg virus disease. BioCryst also plans to
initiate phase I studies on the candidate under the contract
In Nov 2012, BioCryst announced positive results from a
preclinical study on BCX4430. Results from the study revealed
that the candidate was efficacious and well-tolerated in a
disease model against yellow fever virus infection.
We remind investors that BCX4430 is being developed under the
company's collaboration with U.S. government agencies following
the Animal Rule regulatory pathway.
Apart from BCX4430, BioCryst also has peramivir and ulodesine in
its pipeline. Earlier in the month the company filed a New Drug
Application (NDA) for peramivir to the U.S. Food & Drug
Administration (FDA). BioCryst is looking to get peramivir
approved for the treatment of adults suffering from acute
Once approved, BioCryst plans to launch peramivir in the U.S.
during the 2014-15 influenza season. The drug is already approved
in Japan and Korea for the treatment of influenza. Meanwhile,
ulodesine is being developed for the treatment of gout. We expect
investor focus to remain on the company's pipeline going forward.
BioCryst presently carries a Zacks Rank #2 (Buy). Some other
stocks worth considering include
Lannett Company, Inc.
). All the stocks carry a Zacks Rank #1 (Strong Buy).