BioCryst Pharmaceuticals announced that the U.S. Department of Health and Human Services purchased an additional 10,000 doses of RAPIVAB, an approved antiviral influenza therapy.
By the end of the year, BioCryst plans to deliver a total of 20,000 doses of RAPIVAB, adding approximately $14 million in non-dilutive capital to the company.
This purchase will supply the Strategic National Stockpile, the nation’s largest supply of life-saving pharmaceuticals and medical supplies for use in a public health emergency.
Over a five-year period, the CDC has agreed to purchase up to 50,000 doses of RAPIVAB, part of a $34.7 million contract.
“This $14 million in non-dilutive capital from the U.S. government is important to BioCryst as we continue to actively evaluate several additional opportunities to bolster our balance sheet by the end of 2019 to support our exciting progress across multiple programs,” said Jon Stonehouse, CEO of BioCryst.
Headquartered in Durham, N.C., BioCryst Pharmaceuticals is a late-stage biotech company that specializes in drug discovery, clinical development, and regulatory affairs. RAPIVAB is a treatment for acute influenza in patients 2 years or older.
BioCryst Pharmaceuticals, Inc. traded on Thursday at $3.18, up 10 cents.