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BioCryst Pharmaceuticals (BCRX) Stock Drops Despite Positive Drug Trial Results

NEW YORK (TheStreet) -- Shares of BioCryst Pharmaceuticals (BCRX - Get Report) closed trading down by 17.86% to $9.75 on Thursday, after the company reported that some patients enrolled in its early-stage study of its hereditary angioedema treatment candidate experienced adverse reactions.

Two patients enrolled in the trials discontinued the study due to gastrointestinal problems with another subject developing a hypersensitivity rash, the company said.

Despite the setback, the company declared the phase 1 trials a success and said that a four week phase 2 trial of the treatment will begin either later this year or early next year.

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"We are very pleased that our first-in-human trial of BCX7353 met all of its objectives. The results show '7353 to be generally safe and well tolerated, and the observed drug exposure and kallikrein inhibition reaffirms our expectation that '7353 has the potential to be a once-daily treatment to wipe out HAE attacks," said CEO Jon Stonehouse.

Hereditary angioedema is a debilitating and potentially fatal genetic condition...


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