BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX)
BioCryst Pharmaceuticals is having a strong start to the trading session after announcing that one of its treatments has received regulatory approval in Japan. As a result, investor excitement ensued, leading to gains in the stock and an alert from our partners at Trade Ideas. At the moment (9:41), BCRX is trading at $8.57 per share after a gain of $0.17 per share or 2.02% thus far today.
BCRX Announces Japanese Regulatory Approval
As mentioned above, BioCryst Pharmaceuticals is having a strong day in the market today after announcing that Mundipharma had received regulatory approval in Japan for Mundesine(R) (Forodesine hydrochloride). The treatment was approved for patients with relapsed or refractory PTCL, also known as Peripheral T-Cell Lymphoma. So, how does this translate to gains for BCRX?
Well, in 2006, BCRX entered into an agreement with Mundipharma. The agreement is an exclusive sub-licensing agreement surrounding the development and commercialization of forodesine for the treatment of cancer. In 2011, the agreement was amended and restated. As a result of this agreement, BioCryst will be receiving tiered royalties ranging from the mid-to-high-single digit percentages with regard to net sales of Mundesine.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BCRX. In particular, we’ll continue to follow the company’s contract with Mundipharma and we’re excited to see how Mundesine royalties equate to larger revenue for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
What Do You Think?
Where do you think BCRX is headed moving forward? Join the discussion in the comments below or on StockTwits!
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