BioCryst Pharma (BCRX) Shares Undervalue Potential HAE Opportunity - Wells Fargo

December 18, 2013 1:21 PM EST
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Price: $5.95 -4.8%

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Wells Fargo maintained an Outperform rating on BioCryst Pharma (NASDAQ: BCRX). Comments follow news BioCryst has selected two optimized plasma kallikrein inhibitors to advance into preclinical development as potential once-daily, oral treatments for the prevention of hereditary angioedema (HAE) attacks.

Analyst Brian Abrahams said, "While the second generation compounds are still at an early preclinical stage, PK profiles of the compounds look promising, suggesting that they could potentially further improve upon '4161's profile (and IP) and help the longterm life cycle management of the company's potential HAE franchise. We continue to believe '4161's proofofconcept study (OPuS1), expected to read out by mid2014, has a good probability of success, and that BCRX shares undervalue the potential HAE opportunity on a risk/reward basis."

"Recall the company's first generation kallikrein inhibitor, BCX4161, is in ph.II proofofconcept study in treatment/prophylaxis of HAE attacks. PK/PD data has looked promising in terms of its potential to reduce HAE attack severity/frequency, though one of the areas for '4161 that could be improved upon with secondgeneration kallikrein inhibitors is its suboptimal bioavailability, which could require multiple pills several times a day. BCRX announced that the second generation compounds have potential to improve upon selectivity and bioavailability, without any unwanted potential side effects in the blood clotting cascade (observed no effect on prothrombin time at 50micM+ concentration)," he said.

For an analyst ratings summary and ratings history on BioCryst Pharma click here. For more ratings news on BioCryst Pharma click here.

Shares of BioCryst Pharma closed at $6.48 yesterday.

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