Piper Jaffray expects positive results from BioCryst’s Phase III APeX-2 trial

Piper Jaffray analyst Tyler Van Buren “fully” expects positive results from BioCryst’s Phase III APeX-2 trial next quarter and notes that the increased enrollment and improved powering is an encouraging development. Additionally, the analyst says that recent full presentation of the Phase II ZENITH-1 results for the 7353 oral liquid program continue to give him a high level of confidence in the future outcome of the Phase III trial. In addition to these two late stage programs, the company’s pipeline is expanding rapidly with IV antiviral galidesivir, BCX9250 for FOP, and BCX9930 for complement-mediated diseases all entering the clinic this year, he adds. Van Buren reiterates an Overweight rating and $15 price target on the shares as he continues to have a high level of confidence in the $500M-plus potential of each the 7353 oral capsule and oral liquid assets and believes that the early-stage pipeline could generate significant additional value.
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