BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX, BCRX message board) stock took a hit when the company announced their drug candidate had no effect on the targeted skin disease. The share price sank nearly 30% over a two week period after the announcement. Still the stock managed to recover and even ended up amongst unusual movers of the day on September 29, 2008, when most other stock moved down. So is there potential for BioCryst's stock to climb higher? It is hard to give an answer to that. The price currently looks inflated by the latest event. BioCryst had participated in UBS 2008 Global Life Sciences Conference. However there is no merit for the further growth in price.
Looking at the company's income statement reveals a worsening financial performance. BioCryst still has money to cover the increasing losses, however at this pace of loss increase it would hardly be enough for half a year if not borrowings.
Latest news also announced that the company's president and CEO, Jon P. Stonehouse, will be presenting at JMP Healthcare Focus Conference on October 6, 2008. Hopefully, when giving corporate update, Mr. Stonehouse will at least give guidelines of how they're planning to improve the worsening financial situation of BioCryst. It would be smart to wait for this update before considering BCRX stock.
About the company:
BioCryst operates as a biopharmaceutical company engaged in the development of novel therapeutics targeting major diseases. The company mainly targets infectious, cardiovascular, and autoimmune diseases.
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