BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) is making a run for the top in the marke this morning after a late-week announcement last week. In the announcement, the company said that it would be moving forward with a clinical trial of a potential COVID-19 treatment. Here’s what’s going on:
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BCRX Stock Rockets On COVID-19 Study News
In the press release, BioCryst Pharmaceuticals said that it opened enrollment into a randomized, double-blind, placebo-controlled clinical trial. The trial was designed to assess safety, clinical impact and antiviral effects of galidesivir in patients with COVID-19.
Importantly, the trial is being funded by the National Institute of Allergy and Infectious Diseases.
BCRX reminded investors that galidesivir is an investigational broad-spectrum antiviral drug. The treatment was safe and well tolerated in Phase 1 trials among healthy subjects.
Importantly, the company said that Galidesivir has demonstrated broad-spectrum activity in vitro against more than 20 RNA viruses in nine different families. Importantly, these resulst have been seen in the coronaviruses that cause MERS and SARS.
The company said that the trial will be conducted in Brazil under a United States investigational new drug application. The protocol of the study has also been approved by the Agência Nacional de Vigilância Sanitária (ANVISA) and the Brazilian National Ethics Committee (CONEP).
In a statement, Dr. William Sheridan, CMO at BCRX, had the following to offer:
Galidesivir has been safe and well-tolerated in Phase 1 studies, and, as a potent broad-spectrum antiviral medicine, we are hopeful that we will see a benefit in patients with COVID-19. This trial is part of the scientific community’s effort to urgently find effective treatments for patients in this global health emergency.
Why Investors Are So Excited
There’s good reason to be excited here. The coronavirus has changed the shape of social lifestyles, it has changed how we eat, shop, and more.
In order to bring this pandemic to an end, we have to have vaccines and treatments for COVID-19. That’s where BioCryst Pharmaceuticals comes in. The company’s potential treatment has already shown signs of efficacy in other strains of coronaviruses. Considering this, we should see the same in COVID-19 patients.
Considering the strong sense of urgency needed to bring a treatment option to market, it only makes sense that regulatory agencies will work with the company to push this potential option through the steps to commercialization.
All in all, BCRX is in a very good position at the moment.
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