BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) broke higher Tuesday morning, following the company’s announcement that its oral drug for hereditary angioedema (HAE) met the primary efficacy endpoint, several secondary endpoints and all other objectives established for its Phase 2a clinical trial. HAE is a rare, severely debilitating and potentially fatal genetic condition that occurs in about one in 10,000 to one in 50,000 people.
BioCryst’s treatment, BCX4161, is a novel, selective inhibitor of plasma kallikrein in development for prevention of attacks in patients with HAE. The drug suppresses the body’s production of bradykinin, which is a cause of acute swelling attacks in HAE sufferers.
BioCryst has been on something of a tear over the past 12 months. The share price is up more than 460%, and the stock reached its 52-week high shortly after the announcement in early March of a successful Phase 1 clinical trial of BCX4161.
Shares were up more than 11%, after rising as much as 20% earlier Tuesday morning. The stock was trading at $10.07 a half-hour after the open. The 52-week range is $1.42 to $13.33.
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