BioCryst Pharmaceuticals announced Monday it received a new $44 million contract from the National Institute of Allergy and Infectious Diseases (NIAID) to advance the development of its antiviral drug galidesivir.

The late-stage biotech company also added $3 million to an existing contract.

“With this additional investment in galidesivir by NIAID, we are now positioned to further evaluate and advance galidesivir through additional clinical trials in different settings beyond hospitalized patients, and to accelerate our manufacturing activities to increase drug supply,” BioCryst CEO Jon Stonehouse said in the release.

Stonehouse added that the company believes “broad-spectrum antivirals, like galidesivir, are critical to combat both the current COVID-19 pandemic and threats from future viruses.”

According to the company, the funds from the performance-based contracts will go toward finishing the parts 1 and 2 of the galidesivir clinical trial in Brazil, conducting a phase 2 trial in non-hospitalized COVID-19 patients deemed high risk, conducting a clinical pharmacology trial to determine proper dosing in patients with renal impairment, and boosting its supply of the antiviral drug.

Shares of BioCryst Pharmaceuticals, Inc. (BCRX) fell 22 cents, or 5.3 percent, to close at $3.93 on Tuesday.