BioCryst Pharmaceuticals Jumped Higher Today; Here's Why Investors May Be Wrong
Shares of BioCryst Pharmaceuticals (NASDAQ: BCRX) are up 9% at 2:00 p.m. EDT after the biotech increased the number of COVID-19 patients expected to enroll in its phase 1 clinical trial. The study, which is testing BioCryst's RNA synthesis blocker, galidesivir, will now enroll 132 patients, double the 66 patients who were previously expected to enroll.
Investors seem to be seeing the increase in enrollment as a sign that galidesivir is working, but there's a simpler explanation.
The two-part clinical trial consists of a dose-ranging study, which was expected to enroll three dose levels of 8 patients each for a total of 24 patients. The second part would test the best dose on up to 42 patients. That's how the company arrived at the 66 patients originally.
Source Fool.com
