BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)’s experiment drug BCX4430 is undergoing real-time tests upon humans, for the first time since its inception. Its earlier tests have revealed its in vitro broad spectrum activities against 20 RNA viruses across 9 distinct families. This new drug is promising in dealing with the severe haemorrhagic fever causing viruses that affect humans – Marburg virus, filo-virus and Ebola Virus. The company received accolades lately, and won a federal contract worth $35 million, in order to fight the deadly Ebola virus.
As Tests Pass, BCRX Wins BARDA/ASPR-Contract
The biotechnology company has had several tests in the past with this test-drug. It has received exquisite responses when the subjects affected bettered and functionality of any virus-killer drug could have been realized. The company has received accolades from all circles for the feats attained in the realm of manufacturing drugs to fight out deadly Ebola viruses.
Biomedical Advanced Research and Development Authority or BARDA is an entity in the US and associated with the Department of Health and Human Services. Assistant Secretary for Preparedness and Response (ASPR) of the office of US Dept. of Health and Human Services has awarded this prestigious project for manufacturing competent drugs to while off the Ebola virus scare across the world.
Stock Turns Bullish
This ASPR/BARDA contract has pumped up the purchases of BCRX’s shares in larger numbers. The latest news was shared with the media on Tuesday; shares prices went trading up 4 per cent, and the stock’s future is apparently bullish!
Scope Of Work And Investment
This contract comprises a base contract amounting to $12.1 million merely to support the research and development of BCX4430 drugs and their holistic manufacturing processes. Another $22.9 million would be spent largely in additional options for development, exercised by the esteemed government in power. Thus together, the potential value of the entire contract stands at a whopping $35 million.
Prior to this, BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) had already notched up a contract worth $29 million from National Institute of Allergy and Infectious Diseases or NIAID, for holistic development of this drug. The BARDA contract spans out drug manufacturing over the next 18 months.