BioCryst Pharmaceuticals (NASDAQ:BCRX) shares jumped in early Monday trading after it told investors that the Institut national d'excellence en santé et services sociaux (INESSS) has issued a positive recommendation for the reimbursement of its Orladeyo drug for the prevention of hereditary angioedema (HAE) attacks in adults and patients 12 years or older in Quebec.
By 10:30am ET, the company’s shares were 6.5% higher at $7.30.
The company noted in a statement that Health Canada authorized Orladeyo in June 2022 for the routine prevention of recurrent HAE attacks in patients 12 years and older. In February 2023, the Canadian Agency for Drugs and Technologies in Health (CADTH) Canadian Drug Expert Committee also issued a positive recommendation for the therapy.
“We are committed to bringing Orladeyo to as many Canadians living with HAE as possible,” commented BioCryst Canada vice president and general manager Anand Janack.
“This announcement from INESSS, which follows the positive recommendation from CADTH earlier this year, takes us one step closer to making our oral, once-daily therapy available to Canadians who are in need of a new option to help improve control of their HAE attacks.”
BioCryst said Orladeyo (berotralstat) is the first and only oral therapy designed specifically to prevent attacks of hereditary angioedema (HAE) in adult and pediatric patients 12 years and older. One capsule of the drug per day works to prevent HAE attacks by decreasing the activity of plasma kallikrein.
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