BioCryst shares surge on positive PhIIa gout data

Shares of Birmingham, AL-based BioCryst Pharmaceuticals (NASDAQ: BCRX) surged 15 percent this morning after the developer announced positive data from the interim analysis of a Phase IIa study of its experimental gout drug.

Researchers said that BCX4208 demonstrated a statistically significant reduction in serum uric acid levels compared with a placebo for all three dosages used in the 21-day trial. Biocryst added that the drug appeared safe and well tolerated.

"This successful first clinical test of BCX4208 in patients with gout confirms this PNP inhibitor's ability to reduce uric acid levels in the blood and supports its continued evaluation as a potential treatment for patients with gout," said Dr. William P. Sheridan, the chief medical officer at BioCryst. "We have started part two of this study and we are finalizing plans for an additional Phase 2 trial of BCX4208 as a monotherapy and in combination with allopurinol, a commonly used urate-lowering treatment for gout. During 2010 we expect to complete these studies, which should define dosing suitable for further development of BCX4208 for gout."

BioCryst also reported a $2.6 million loss in the first quarter, down from a $9.3 million loss a year ago.

- check out BioCryst's press release
- here's the story from Reuters