American biotech BioCryst Pharmaceuticals (NASDAQ: BCRX) scored an important regulatory win across the Atlantic Ocean on Wednesday. As a result, happy shareholders pushed the company's stock almost 5% higher on the day.
BioCryst announced that the European Medicines Agency (EMA) -- a regulator for the sprawling, multi-country European Union -- has granted the company's BCX9250 investigational drug access to the EMA's Priority Medicines (PRIME) initiative. This is a treatment targeting fibrodysplasia ossificans progressiva (FOP), an affliction in which patients suffer the ossification of ligaments and tendons.
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Why BioCryst Stock Shot Nearly 5% Higher Today