RESEARCH TRIANGLE PARK, N.C. - BioCryst (NASDAQ:BCRX) Pharmaceuticals, Inc. (NASDAQ:BCRX) today announced the appointment of Dr. Donald S. Fong as the company's new chief medical officer. Dr. Fong's appointment is effective immediately, and he joins the leadership team alongside Dr. Helen Thackray, chief research and development officer, and Dr. Bill Sheridan, chief development officer.
Dr. Fong brings over 25 years of experience in clinical research, drug development, and healthcare organization leadership to his new role. He previously served as vice president of ophthalmology clinical development at Annexon Biosciences and founded the clinical trials division at Kaiser Permanente Southern California. His background also includes serving as chair of the FDA's Dermatologic and Ophthalmic Drugs Advisory Committee and as a clinical professor at the Kaiser Permanente School of Medicine.
In his prior role at BioCryst, which he joined in April 2024, Dr. Fong oversaw clinical development of avoralstat, an investigational treatment for diabetic macular edema. His appointment is expected to strengthen the company's medical team as they advance their pipeline, including therapies for Netherton syndrome and diabetic macular edema, with clinical trials anticipated to start this year and the next.
BioCryst is focused on developing novel therapies for diseases with significant unmet needs. The company has already commercialized ORLADEYO® (berotralstat), a once-daily oral plasma kallikrein inhibitor, and continues to develop a pipeline of small-molecule and protein therapies.
The information in this article is based on a press release statement from BioCryst Pharmaceuticals , Inc.
In other recent news, BioCryst Pharmaceuticals Inc. has reported a strong performance for the second quarter of 2024, largely due to the demand for its hereditary angioedema (HAE) treatment, ORLADEYO. The company has increased its revenue forecast for the year to a range of $420 million to $435 million. However, BioCryst has ceased its BCX10013 program due to insufficient activity of the drug.
BioCryst has expressed optimism about achieving profitability and maintaining independence from capital markets, underscored by promising pipeline developments and the global market expansion of ORLADEYO. The firm is planning to file for pediatric use of ORLADEYO's oral-granule formulation next year.
These developments come amid strong sales and patient retention of ORLADEYO in over 20 countries. The company is also expecting to reach 85% paid treatment in the US by 2029 and is targeting a 20% market share for ORLADEYO. Despite the discontinuation of BCX10013, BioCryst's focus on profitability and pipeline development indicates a positive trajectory for the company.
InvestingPro Insights
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) has shown a robust performance in the stock market with a strong return of 21.94% over the last three months, as of the latest data. This positive trend is further emphasized by the stock trading near its 52-week high, currently at 93.24% of this peak value. This momentum is underlined by four analysts who have recently revised their earnings expectations upwards for the upcoming period, suggesting confidence in the company's potential growth.
Despite these optimistic signals, InvestingPro data indicates that BioCryst is not currently profitable, with a negative P/E ratio of -11.29. This aligns with analysts' anticipation that the company will not be profitable this year. However, the company's liquid assets do exceed its short-term obligations, providing some financial stability as it continues to invest in its drug development pipeline.
For readers looking to delve deeper into BioCryst's financial health and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/BCRX. These tips can provide valuable insights for investors considering this biotech player in the context of its recent leadership changes and ongoing clinical trials.
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