UPDATE: BioCryst Pharmaceuticals Posts Narrower-Than-Expected Q4 Loss

BioCryst Pharmaceuticals Inc. BCRX reported a narrower-than-expected loss for the fourth quarter. The Durham, North Carolina-based company posted a quarterly loss of $11.7 million, or $0.16 per share, versus a year-ago net loss of $5.4 million, or $0.09 per share. Its revenue declined 49.1% to $5.4 million. However, analysts were estimating a loss of $0.21 per share on revenue of $3.64 million. Research and Development expenses rose to $18.5 million from $15.5 million, while general and administrative expenses gained to $2.0 million from $1.4 million. At December 31, 2014, the company had cash, cash equivalents and investments of $114.0 million, compared to $40.8 million at December 31, 2013. For 2015, BioCryst projects net operating cash use of $65 million to $80 million and operating expenses of $75 million to $95 million. "We are proud of our 2014 achievements; most notably our successful completion of the BCX4161 OPuS-1 trial and the initiation of OPuS-2 for the treatment of hereditary angioedema, as well as our first U.S. regulatory approval of a BioCryst discovered drug, RAPIVABTM for the treatment of acute uncomplicated influenza in patients 18 years and older," said Jon P. Stonehouse, President & Chief Executive Officer. BioCryst Pharmaceuticals shares gained 1.68% to $10.30 in pre-market trading.