NEW YORK (TheStreet) -- BioCryst Pharmaceuticals (BCRX - Get Report) stock is down by 68.32% to $1.95 on heavy trading volume on Monday, after the company reported disappointing trial results for its treatment for angioedema attacks.
The Durham-based biotechnology company's treatment, known as avoralstat, is for hereditary angioedema attacks, which causes swelling throughout the body.
A clinical trial of the treatment called OPuS-2 did not demonstrate a statistically significant reduction in attack rates compared to a placebo study, the company announced on Monday.
"OPuS-2 was a well-designed and executed trial that gave us a clear answer; this dosage form of avoralstat is not a viable formulation to move forward," CEO Jon Stonehouse said in a statement on Monday. "While we are disappointed in the study results, we learned that meaningfully better exposure is needed for avoralstat to succeed."
So far today, 7.25 million shares of BioCryst have traded, versus its 30-day average of about 761,000 shares.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D-. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: BCRXBCRX data by YCharts