BioCryst Stock Tanks After Rare Disease Drug’s Phase 2 Failure
Summary
The BioCryst (NASDAQ: BCRX) drug, called avoralstat, was developed to treat hereditary angioedema (HAE), a disorder characterized by sudden attacks of inflammation and swelling in the face and lips.On a conference call discussing the trial results, BioCryst executives said that the drug’s failure appeared to be related to its formulation as a liquid gel capsule, which was taken three times a day—every eight hours.Marc Riedl, clinical director of the Angioedema Center at the University of California, San Diego, said on the call that in his view, the extended time period between doses of the capsule is the best explanation for why the drug failed in the study.Riedl, who has advised BioCryst and has also received funding from the company for clinical research, said the three times daily dosing doesn’t explain the placebo effect, which he called surprising.CEO Jon Stonehouse said at the time that selling peramivir rights gave BioCryst additional cash to support rare disease drug research and development.
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