Market Overview

BioCryst Provides Update on Strategy, Pipeline and Outlook


BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) ("BioCryst" or the
"Company"), a pharmaceutical company focused on the development and
commercialization of treatments for rare diseases, today provided an
update on the Company's strategic and financial outlook as a standalone
company following the recent termination of its merger agreement with
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) ("Idera").

Jon P. Stonehouse, President and Chief Executive Officer of BioCryst,
said, "We are moving forward executing our standalone strategy with a
great deal of confidence in our programs, our pipeline and our ability
to drive value for our stockholders. We have been, and will continue to
be, focused on advancing our early- and late-stage programs toward
commercial launch and getting new and valuable medicines into the hands
of physicians as they treat serious conditions."

Mr. Stonehouse continued, "We are making excellent progress on
enrollment in the APeX-2 pivotal trial of BCX7353. We remain on track to
read out the results of efficacy and safety from the first 24 weeks of
APeX-2 in the first half of next year. Also, we are on track for a first
half of 2019 initiation of a Phase 1 clinical trial for our ALK-2
inhibitor program for treating fibrodysplasia ossificans progressiva, or
FOP. In addition, we have completed enrollment in all three dose cohorts
of the ZENITH-1 proof-of-concept Phase 2 clinical trial. We continue to
expect to report top-line results from the 750 mg cohort in the third
quarter of 2018 and look forward to the continued progress of each of
our ongoing trials."

Executing a Strategic Plan to Deliver Significant Value for

BioCryst continues to execute on its plans to drive growth and create
significant value for stockholders by discovering, developing and
commercializing novel therapeutics for patients with rare and serious
diseases. Through its established expertise in drug discovery and
clinical development, and plan to continue to build a highly competitive
commercial team, BioCryst is well-positioned to continue advancing its
clinical programs toward approval and successful launch.

BioCryst is also focused on generating new compounds from its
differentiated small-molecule, rare-disease discovery engine. Over the
long-term, the Company will also continue exploring and developing
additional complementary organic and strategic opportunities while
building on the initiatives underway.

BioCryst has significant near-term milestones representing significant
value creation opportunities:

1. Third Quarter of 2018: ZENITH-1 first cohort (750 mg) trial data, a
clinical trial to evaluate BCX7353 as an acute treatment of hereditary
angioedema attacks ("HAE");

2. First Half of 2019: 24 week efficacy and safety data read out of
APeX-2, a Phase 3 clinical trial evaluating two dosage strengths of
BCX7353 administered orally once-daily ("QD") as a preventive treatment
to reduce the frequency of attacks in patients with HAE; and

3. First Half of 2019: Initiation of ALK-2 inhibitor Phase I clinical
trial to treat fibrodysplasia ossificans progressiva.

2018 Revised Financial Outlook Due to Merger Costs

Based upon development plans, merger-related incurred costs from the
recently terminated merger agreement with Idera and awarded government
contracts, BioCryst has revised its stand-alone 2018 guidance and
expects its 2018 net operating cash use to be in the range of $85 to
$105 million, revised from previously issued guidance of $67 to $90
million, and its 2018 operating expenses to be in the range of $90 to
$110 million, revised from previously issued guidance of $85 to $110
million. The Company's operating expense range excludes equity-based
compensation expense due to the difficulty in reliably projecting this
expense, as it is impacted by the volatility and price of the Company's
stock, as well as by the vesting of the Company's outstanding
performance-based stock options.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals designs, optimizes and develops novel
small-molecule medicines that address both common and rare conditions.
BioCryst has several ongoing development programs including BCX7353, an
oral treatment for hereditary angioedema, galidesivir, a potential
treatment for filoviruses, and a preclinical program to develop oral
ALK-2 inhibitors for the treatment of fibrodysplasia ossificans
progressiva ("FOP"). RAPIVAB® (peramivir injection), a viral
neuraminidase inhibitor for the treatment of influenza, is BioCryst's
first approved product and has received regulatory approval in the U.S.,
Canada, Australia, Japan, Taiwan, Korea and the European Union.
Post-marketing commitments for RAPIVAB are ongoing. For more
information, please visit the Company's website at

Forward-Looking Statements

This press release contains forward-looking statements, including
statements regarding future results, performance or achievements. These
statements involve known and unknown risks, uncertainties and other
factors which may cause BioCryst's actual results, performance or
achievements to be materially different from any future results,
performances or achievements expressed or implied by the forward-looking
statements. These statements reflect our current views with respect to
future events and are based on assumptions and are subject to risks and
uncertainties. Given these uncertainties, you should not place undue
reliance on these forward-looking statements. Some of the factors that
could affect the forward-looking statements contained herein include:
that developing any HAE product candidate may take longer or may be more
expensive than planned; that ongoing and future preclinical and clinical
development of HAE second generation drug candidates (including
ZENITH-1, APeX-2, APeX-J and APeX-S) may not have positive results; that
BioCryst may not be able to enroll the required number of subjects in
planned clinical trials of product candidates; that the Company may not
advance human clinical trials with product candidates as expected; that
the FDA, EMA or other applicable regulatory agency may require
additional studies beyond the studies planned for product candidates, or
may not provide regulatory clearances which may result in delay of
planned clinical trials, or may impose a clinical hold with respect to
such product candidate, or withhold market approval for product
candidates and that actual financial results may not be consistent with
expectations, including that 2018 operating expenses and cash usage may
not be within management's expected ranges. Please refer to the
documents BioCryst files periodically with the Securities and Exchange
Commission, specifically BioCryst's most recent Annual Report on Form
10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K,
all of which identify important factors that could cause the actual
results to differ materially from those contained in BioCryst's
projections and forward-looking statements.


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