BioCryst Pharmaceuticals (NASDAQ:BCRX) faced an exit by investors on Monday as news of failure in trials of a new drug for a rare genetic disorder wiped two-thirds off its share price.
The mid-stage study results for its drug avoralstat administered daily to patients suffering from hereditary angioedema attacks - which can cause swelling of the face and air passages - failed to demonstrate a significantly lower average attack rate versus a placebo.
Shares were down US$4.17, or 68%, at US$1.97.