BioCryst halves workforce

BioCryst Pharmaceuticals Inc. (NASDAQ:BCRX) said it will reduce headcount by 38 (50%) to 37 and focus its resources on BCX4161 for hereditary angioedema (HAE) and preclinical antiviral programs BCX4430 and BCX5191. The move follows major pipeline setbacks and the mutual termination last month of a proposed merger with Presidio Pharmaceuticals Inc. (San Francisco, Calif.). BioCryst said it expects the restructuring to save about $15-$18 million in cash next year. The company expects to have $35-$37 million in cash and investments by year end, which the company said will provide about 15-18 months of runway (see BioCentury Extra, Nov. 30).

Late last month, BioCryst said FDA placed a clinical hold on an IND for a Phase I trial of BCX4161, which delayed the trial start for the oral HAE compound to 1Q13 from year end. In October, BioCryst withdrew an IND for HCV candidate BCX5191 after FDA expressed concerns about the preclinical toxicity profile of the oral adenine nucleoside analog HCV NS5B polymerase inhibitor; the company expects data early next year for low-dose BCX5191 in HCV-infected chimpanzees. BCX4430, an RNA-dependent RNA polymerase inhibitor, is in development for filoviruses. ...