Needham & Company Downgrades BioCryst Pharma (BCRX) to Hold

Needham & Company downgraded BioCryst Pharma (NASDAQ: BCRX) from Buy to Hold after the company announced that avoralstat failed to meet its primary endpoint (reduction of angioedema attack frequency) in the ph 2b OPuS-2 trial. BCRX has concluded that the current formulation of avoralstat does not provide adequate drug exposure to be an effective HAE prophylactic.

Analyst Serge Belanger commented, "The next steps for BCRX's HAE program are to evaluate a novel solid dosage form of avoralstat that is expected to provide higher exposure levels and BID dosing. The proof-of-concept study (APeX-1) for BCX7353 is now being pushed back to 2H16. While we believe there is a role for an efficacious oral HAE prophylactic, it remains unclear at this time, and likely until late-2016, whether BCRX has a viable HAE program to advance into development. We are downgrading to Hold."

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 $6.14 yesterday.

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