Durham drug developer BioCryst Pharmaceuticals reported a boost in fourth-quarter revenue from sales of its intravenous pneumonia treatment, Peramivir.
BioCryst shares dipped 3 cents in midday trading after the company issued interim clinical trial results of its most likely drug candidate to become commercialized. BioCryst shares were trading at $5.46, and have dropped 17 percent in the past week.
The 66-employee company said Monday morning that in the fourth quarter it posted $9 million in sales, compard to $4.6 million a year ago. As a result, BioCryst's net loss dropped to $4.5 million, down from a loss of $18.1 million one year ago.
BioCryst receives royalty payments for Peramivir sales from Seqirus, its licensing partner. Seqirus is commercializing Peramivir worldwide, except in Japan, Taiwan, Korea and Israel.
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BioCryst develops treatments for rare diseases, including heredictary angioedema and infection by the Zika virus and other potentially fatal viruses.
The company said Monday that its angioedemea drug, BCX7353, resulted in improvements for patients with hereditary angioedema. But the drug’s performance was not definitive because some patients complained of gastrointestinal distress that could have been caused by taking the medication.
The disease, known as HAE, causes painful swelling that can result in death. BioCryst plans to complete the clinical trial and publish results this year.