Why BioCryst Pharmaceuticals Stock Is Jumping Again Today
Shares of BioCryst Pharmaceuticals (NASDAQ: BCRX) were jumping 15.4% higher as of 3:21 p.m. EST on Monday. Today's big gain, like BioCryst's major move last week, stemmed from rising fears about the spread of the coronavirus that first appeared in China but has now infected several people in the U.S.
The logic behind the spikes for BioCryst and several other biotech stocks is that these companies could have significant opportunities if they're successful in developing vaccines for the worrisome coronavirus strain. With reports over the weekend that more people in the U.S. and in other countries have been infected by the virus, drugmakers are scrambling to speed up their development of antiviral drugs and vaccines.
Image source: Getty Images.
Source Fool.com
