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U.S. Government Exercises Option for Additonal Rapivab® for Strategic National Stockpile
$14 million in non-dilutive capital added by year end RESEARCH TRIANGLE PARK, N.C., Sept. 26, 2019 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc.
About this update from Biocryst Pharmaceuticals, Inc.
[{"type":"text","content":"$14 million in non-dilutive capital added by year end\nRESEARCH TRIANGLE PARK, N.C., Sept. 26, 2019 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) today announced that the U.S. Department of Health and Human Services (HHS) has exercised its option to purchase an additional 10,000 doses of BioCryst’s approved antiviral influenza therapy, RAPIVAB® (peramivir injection). \n With the exercise of the second option, BioCryst plans to deliver a total of 20,000 doses of RAPIVAB, which will add approximately $14 million of non-dilutive capital to the company, by the end of 2019. The RAPIVAB purchase by the HHS Office of the Assistant Secretary for Preparedness and Response will supply the Strategic National Stockpile, the nation’s largest supply of life-saving pharmaceuticals and medical supplies for use in a public health emergency. “RAPIVAB is an important antiviral with proven benefits for influenza patients, and we appreciate the opportunity to fulfill these orders for HHS as they support patients and our national security,” said Jon Stonehouse, chief executive officer of BioCryst. “This $14 million in non-dilutive capital from the U.S. government is important to BioCryst as we continue to actively evaluate several additional opportunities to bolster our balance sheet by the end of 2019 to support our exciting progress across multiple programs,” Stonehouse added. These orders are part of a $34.7 million contract (Contract No. 75D301-18-C-02984) the Centers for Disease Control and Prevention has awarded for the procurement of up to 50,000 doses of RAPIVAB® (peramivir injection) over a five-year period. About RAPIVAB (peramivir injection)RAPIVAB (peramivir injection) is approved in the United States for the treatment of acute uncomplicated influenza in patients 2 years and older who have been symptomatic for no more than two days. It is administered via an intravenous infusion for a minimum of 15 minutes at recommended doses of 600 mg/kg for adults and adolescents and 12 mg/kg for pediatric patients ages 2 to 12 years. Efficacy of RAPIVAB is based on clinical trials of naturally occurring influenza in which the predominant influenza infections were influenza A virus and a limited number of patients infected with influenza B virus. Visit http://www.rapivab.com to learn more. About BioCryst PharmaceuticalsBioCryst disco...