Same as ............BCRX committed clinical trial fraud. I'd heard that they submitted false data to the FDA (it's in their SEC filings) but didn't know the details. ...
BioCryst's stock soared, going from $6 a share to almost $13 within a few months, and they became the darlings of Wall Street.
The drug company's house of cards tumbled when a company researcher not privy to the plot recalculated the results of the drug trial six months after it ended. He found that only 30% of drug-treated lesions improved.
I see similarity between these 2 companies.....in BCRX NOV 2005 scandal people lost AROUND $--Millions where as DYAX it will be $Billions..........
Revenues declined 49.1 percent from $10.6 million yoy to $5.4 million. Analysts expected revenues of $3.7 million. The stock is now up 1.68% to $10.30 on nearly 51K shares.
For the year, the drugmaker reported that its loss widened to $45.2 million, or $0.68 per share, compared to a net loss of $30.1 million, or $0.55 per share for 2013. Revenue was reported as $13.6 million.
Note all in Brackets ....( ....) meaning all negatives operating margin of (207.95%) and (170.59%), respectively.
A former oncologist and his wife, a nurse, almost got away with a fraud that would have made them and an early-stage drug company millions of dollars by placing a largely ineffective topical treatment on the market. But a mistake committed by the oncologist, Harry Snyder, sealed their fate.
In the early 1990s, Snyder was vice president of clinical development at BioCryst Pharmaceuticals, a company based in Alabama; Renee Peugeot, his wife, was a registered nurse at the University of Alabama at Birmingham (UAB). In 1994, BioCryst's only drug, BCX-34, was in early FDA clinical trials for the treatment of psoriasis and cutaneous T-cell lymphoma, a rare form of skin cancer. BCX-34 is a phosphorylase inhibitor that researchers hoped would inhibit T cells, which play a role in both psoriasis and T-cell lymphoma.
At the urging of BioCryst executives, Peugeot was hired to work on the BCX-34 cancer trial at UAB, and she eventually oversaw much of the research involving the drug.
Though the trial was designed to be double-blind, court documents show that Snyder, previously a viral oncologist at Cornell University and author of dozens of scientific papers from the 1970s through the 1990s, started alerting colleagues that BCX-34 was looking like a successful cancer treatment a full month before the studies were completed. He and Peugeot also bought additional shares in BioCryst before the trial ended. Eventually the couple owned company stock and options worth $600,000.
At the end of the trial, data suggested that BCX-34 was an effective treatment in the study's 22 T-cell lymphoma patients at UAB (there were some patients being treated at Washington University in St. Louis). In February 1995, BioCryst issued a press release trumpeting the effectiveness of the drug against both psoriasis and the deadly skin cancer, and informed the FDA that 59 percent of the trial participants either saw their cancer disappear or improve markedly.
BioCryst stock shot through the roof. One share in the company was worth $6 at the end of the trial, and almost $13 only months later. Investors sank millions of dollars into BioCryst and its new cancer blockbuster.
Then BioCryst's medical director and Snyder's superior, William Cook, started writing up the psoriasis arm of the trial for publication, and noticed some irregularities. He found that Snyder had altered the randomization schedule for both trials; reanalyzing the data using the original randomization schedule from the study coordinator, Cook found that only 30 percent of the trial patients who received BCX-34 experienced a benefit from the drug.
In June, BioCryst held an executive meeting and announced what Cook had uncovered. Snyder attempted to justify the discrepancy, to no avail. The company alerted the FDA and issued a press release saying that BCX-34 was not a miracle cure for cancer. The bottom fell out of BioCryst stocks. Investors ended up losing about $34 million.
At trial, prosecutors revealed that Peugeot had participated in the scheme by fudging clinical data in her direct interactions with patients, while Snyder forged a randomization schedule to make it appear that the people who showed improvements in their disorders were also the ones treated with BCX-34. "What made it work so perfectly was that they were on both sides of the double-blind study," says Adolph Dean, a former Assistant US Attorney and one of the prosecutors in Snyder and Peugeot's case. "She was a subinvestigator for the principal investigator and he was working at the company that was conducting the study. They were playing Russian roulette with people's lives."
A break-out from the multi-month head & shoulders bottom pattern would target at least another 15% of upside (~$15.50).
By 2029 the reverse will happen ....Mkt cap from $4Billion to $40Mil ...as HAE drugs will be replaced with Vaccine like Polio Vaccine.....Outof .$3,960 Million few Million would be used for paying of many Analyst who boasted the stocks for that long.
e United States will speed up weapons deliveries to members of the Saudi-led coalition launching airstrikes against Iran-aligned #$%$ rebels in Yemen, a top American diplomat said Tuesday.
Deputy Secretary of State Antony Blinken blamed the rebels, known as Houthis, for creating political and economic instability in Yemen that Al Qaeda seeks to exploit.
"We have expedited weapons deliveries, we have increased our intelligence sharing, and we have established a joint coordination and planning cell in the Saudi operations center," he said in a statement to reporters after meeting with Saudi royals and Yemen's President Abed Rabbo Mansour Hadi, who fled his country due to Houthi advances and is currently in Saudi Arabia.
Intelligence sharing includes making available raw aerial imagery the coalition could use to better strike anti-Hadi forces, a U.S. defense official not authorized to comment publicly told the Associated Press. Blinken said the U.S. and the six-nation Gulf Cooperation Council must coordinate closely and press all parties to seek a political solution.
A Pentagon spokesman told Fox News that the joint coordination cell was established at the beginning of the conflict late last month. Pentagon press officer Col. Steve Warren said recently that a "handful" of U.S. advisers were working there, but did not specify an exact number.
A U.S. military officer with knowledge of the planning cell also told Fox News that the U.S. was doing more to help the guide the Saudi planes. The officer said most of the guidance was designed to make sure the jets hit their targets and did not strike large population centers.
NO INTEREST HIKE even as far as 2016, as they eyed a sharp fall in energy prices, coupled with a powerful rally in the greenback.