BioCryst Pharmaceuticals Inc said its experimental hepatitis C drug showed promise in preclinical studies. Additional non-clinical experiments on the drug are ongoing or planned, the company said in a statement.
BioCryst, which is also testing potential cancer, influenza and gout treatments in the late-stage, said the drug candidate, BCX5191, selectively showed antiviral activity against the hepatitis C enzyme.
"We expect this program to be ready to file for first-in-human studies during the fourth quarter of 2012," Chief Medical Officer William Sheridan said.
Biota going to get Exec from Inhibitex, for Hep C expertise
ROCKVILLE, Md. and MELBOURNE, Australia, Sept. 6, 2012 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (NABI) today announced that Biota Holdings Limited (BTA.AX) has entered into advanced discussions with Russell H. Plumb, the former President and Chief Executive Officer of Inhibitex, Inc., with a view to agreeing on the terms and conditions for the appointment of Mr. Plumb as the President and Chief Executive Officer of Biota Pharmaceuticals, Inc., the combined company upon the successful completion of the proposed business combination transaction between Biota and Nabi. It is also expected that Mr. Plumb will be appointed as a director of Biota Pharmaceuticals, Inc.
Mr. Plumb served as President, Chief Executive Officer and Chief Financial Officer of Inhibitex, Inc., a U.S. publicly-traded, clinical-stage drug development company, from December 2006 through February 2012, when it was acquired by Bristol-Myers Squibb for approximately $2.5 billion. Prior to its acquisition, Inhibitex focused its resources in recent years on developing antiviral, small molecules, including compounds to treat hepatitis C virus (HCV). From 2000 to December 2006, Mr. Plumb was the Chief Financial Officer of Inhibitex, during which time he oversaw numerous financing transactions, including the company's initial public offering in 2004.
Nice try WHACKO JAC. It SUNK on a MASSIVE up day in the market- EXPLAIN THAT? It can't hold a lousy $4 BUCKS and you're pulling $20 out of your dumbed down behind?
Sentiment: Strong Sell