Business Week mentions bird flu play
BCRX BioCryst Pharm: Business Week mentions bird flu play; analyst thinks stock could be worth $35 (14.15 -1.34) -Update-
Business Week comments on shares of Biocryst Pharmaceuticals (BCRX) which climbed to $15 on Oct. 19. The reason: bird flu. "Biocryst is attracting investor attention because of its antiviral drug, Peramivir, which some scientists see as a promising treatment for avian flu," says John McCamant, editor of the Medical Technology Stock Letter. Despite co's fast runup, it has more room to climb, partly because its market cap of $480 mln doesn't fully reflect its other products. Among these are Fodosine, its chief drug aimed at T-cell leukemia, and BCX-4678 for hepatitis C, says McCamant. Vinny Jindal of Wedbush Morgan believes Peramivir could well compete with Tamiflu as it has several advantages, including lower cost per dose and co's ability to ramp up production. He says under the Project BioShield Act on biodefense, the U.S. can stockpile Peramivir after filing efficacy studies on animals and a safety study on humans -- which, he adds, Biocryst could complete by early 2006. It is also starting a Phase 3 trial on Peramivir in Southeast Asia, sponsored by the U.S. National Institutes of Health. With its other products, co worth could be $35 a share, says Jindar
