BioCentury
ARTICLE | Company News

BARDA terminates Biota's laninamivir octanoate contract

May 9, 2014 12:03 AM UTC

Biota Pharmaceuticals Inc. (NASDAQ:BOTA) said HHS's Office of the Assistant Secretary for Preparedness and Response (ASPR) and Biomedical Advanced Research and Development Authority (BARDA) terminated a 2011 contract worth up to $231 million to develop the company's laninamivir octanoate. Biota said HHS did not provide a reason for the contract termination. The company fell $1.89 (34%) to $3.68 on April 29 after receiving a stop-work order for the influenza candidate (see BioCentury Extra, April 29).

Next quarter, Biota expects to report top-line data from the Phase II IGLOO trial of laninamivir octanoate for influenza A and B infections. Partner Daiichi Sankyo Co. Ltd. (Tokyo:4568) markets the second-generation long-acting neuraminidase inhibitor (LANI) in Japan as Inavir. ...