BioCryst Pharmaceuticals said this morning that it expects to meet with federal authorities in the second quarter to discuss a new drug application for its experimental Peramivir treatment.
The Durham company recently suspended development of the potent antiviral treatment in this country after inconclusive tests. The feds have supplied $235 million to develop the medication, which rapidly delivers plasma to infection sites to inhibit the spread of influenza.
BioCryst said it has completed a meeting on the future of Peramivir with the U.S. Food & Drug Administration. The 22-year-old company also said it's requesting a new drug application meeting to address outstanding issues.
Peramivir is approved in Japan, Korea and, most recently, China.
Recent product cancellations have forced BioCryst to cut half its staff and also derailed a $101 merger with Presidio Pharmaceuticals.
BioCryst stock is at $1.80, down 6 cents a share in midday trading.