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BioCryst Pharmaceuticals' shares jumped 16% Wednesday on news of Gilead Sciences' positive test results for the use of its antiviral drug remdesivir to treat COVID-19 patients, reported TheStreet.
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According to the news source, BioCryst is testing its own coronavirus drug, which JMP Securities analyst Liisa Bayko said works in a clinically similar way as remdesivir.
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BioCryst had already begun a clinical trial in Brazil of its own drug galidesivir on coronavirus patients.
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Bayko suggested that encouraging news about remdesivir "bodes well" for BioCryst and its own efforts to repurpose an antiviral drug to battle COVID-19.
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Still, she cautioned that the two drugs have different chemical structures and that galidesivir is in an earlier stage of vetting, having just launched a small Phase I trial in Brazil.
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