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BioCryst Up 23 Percent in Early Trading

Shares of biotech company, BioCryst Pharmaceuticals (NASDAQ: BCRX) is up 23 percent in early trading Monday following an announcement that a Phase I study of its experimental drug BCX4161 successfully met all of its objectives.

The drug is being developed for hereditary angioedema, a rare hereditary condition that is severely debilitating and potentially fatal.

87 healthy volunteers completely the study. The company said that the drug was safe and well tolerated. Phase 2 studies will begin this year.

“We are very pleased that this first-in-human trial of BCX4161 met all of its objectives. The safety, tolerability, level and consistency of drug exposure and kallikrein inhibition achieved significantly increases our confidence to move this program forward,” said Dr. William P. Sheridan, Chief Medical Officer at BioCryst. “We look forward to conducting a Phase 2 proof of concept study later this year to evaluate BCX4161’s ability to reduce the frequency of edema attacks in HAE patients.”

[stock-tools exchange="NASDAQ" symbol="BCRX" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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