2:58 PM
 | 
Jul 10, 2018
 |  BC Extra  |  Company News

BioCryst, Idera drop merger plans

BioCryst Pharmaceuticals Inc. (NASDAQ:BCRX) said it terminated its merger agreement with Idera Pharmaceuticals Inc. (NASDAQ:IDRA) after BioCryst stockholders failed to approve the merger in a special meeting held Tuesday.

The partners announced the news after market hours. Idera will receive a $6 million reimbursement from BioCryst for expenses related to the transaction. The companies had announced the merger to form a rare disease company in January (see "All Together Now").

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