FDA OKs Use of BioCryst Flu Drug

This article has been updated to include additional detail on the authorization and a link to the full list of approved uses.

BIRMINGHAM, Ala. (TheStreet) -- The Food and Drug Administration has authorized the emergency use of peramivir, an experimental antiviral drug, to treat swine flu, also known as H1N1 influenza.

The drug is being developed by BioCryst(BCRX Quote).

The FDA's authorization comes in response to a request from the Centers for Disease Control and Prevention, according to a press release that BioCryst issued late Friday.

Peramivir is designed to be administered intravenously.

The authorization is only for hospitalized patients who are not responding to either oral or inhaled antiviral treatments or for whom nonintravenous drug delivery is not feasible or appropriate in the eyes of the clinician. Here are the full details of the EUA.

BioCryst said it already has donated to the Department of Health and Human Services an initial supply sufficient for 1,200 five-day courses of peramivir. The company added that it completing production of approximately 130,000 courses of the drug to meet potential orders from the U.S. and other governments and is prepared to make more.

BioCryst shares, which have traded as low as 85 cents in the past year, closed Friday at $9.66.

-- Written by a member of TheStreet.com staff.