BioCryst Pharma restructures in face of pipeline disappointments

10 December 2012

USA-based BioCryst Pharmaceuticals (Nasdaq: BCRX), whose merger with Presidio was called off earlier this month (The Pharma Letter December 3), said Friday that, in response to recent events and an assessment of its assets, the company is restructuring and implementing a focused strategy to advance its hereditary angioedema (HAE) and antiviral programs.

The restructuring is intended to significantly reduce BioCryst’s cost structure and scale the organization appropriately for its current portfolio. The company plans to direct its cash and other resources primarily to enable the achievement of important near-term milestones for the BCX4161 HAE, BCX4430 broad spectrum antiviral and BCX5191 hepatitis C (HCV) programs.

“The strategic focus and restructuring announced today is based on an evaluation of our programs and operations, following the setbacks in our peramivir and BCX5191 programs, as well as the delay in our BCX4161 program,” said BioCryst president and chief executive Jon Stonehouse.

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