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.
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.
BioCryst had already begun a clinical trial in Brazil of its own drug galidesivir on coronavirus patients.
Bayko suggested that encouraging news about remdesivir "bodes well" for BioCryst and its own efforts to repurpose an antiviral drug to battle COVID-19.
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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