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BCRX - BioCryst Pharmaceuticals: Waiting For A Cash Infusion
BioCryst Pharmaceuticals Inc.
Shares of BioCryst Pharmaceuticals (BCRX) are stuck around $3 per share ever since the stock plunged after reporting phase 3 results of BCX7353 in hereditary angioedema (‘HAE’) in May. The subpar phase 3 results (relative to an available competing therapy) and the company’s poor financial situation are mostly to blame. BioCryst ended Q2 with only $97.5 million in cash and equivalents, and a projected cash burn for 2019 in the $105 million to $130 million range suggests the company needs to raise cash soon. I continue to believe that BCX7353 is a weak