BioCryst Pharma: Gains after calling off merger plans with Idera Pharma

Aceragen

11/07/2018 15:09

** BioCryst Pharma  BCRX.O  shares gain 2.4 pct to $6.29
after the drug developer ends merger agreement with Idera Pharma
 IDRA.O 
    ** Idera drops 8.8 pct to $1.25 after BCRX shareholders
disapprove merger on Tues  urn:newsml:reuters.com:*:nBw9jw0x3a
    ** Cos announced merger in late Jan, where BCRX would own
51.6 pct of new co, and IDRA would own rest  urn:newsml:reuters.com:*:nL4N1PH4LO
    ** BioCryst also provides update on APeX-2 trial of BCX735,
a treatment to reduce frequency of attacks in patients with
hereditary angioedema (HAE); says on track to come out with
efficacy and safety results from first 24 weeks of APeX-2 in H1
2019. 
    ** BCRX also on track for a H119 initiation of a early stage
study for ALK-2 inhibitor program for treating an orthopedic
disorder
    ** Says completed enrollment in three dose cohorts in a
mid-stage trial to evaluate BCX735 as an acute treatment of HAE
    ** BioCryst expects 2018 net operating cash use in range of
$85 to $105 mln, up from previously guided $67 to $90 mln
    ** Through Tuesday's close, BCRX up 28 pct YTD, IDRA off 40
pct
    

 (Reporting by Sruthi Shankar in Bengaluru)
 ((RM: sruthi.shankar.reuters.com@reuters.net))