Business briefs

Mar. 25, 2013 @ 06:48 PM

Durham-Chapel Hill foreclosure rate down in January

IRVINE, Calif. -- The foreclosure rate in the Durham-Chapel Hill area was down in January compared with the same period last year, according to data released by the information, analytics and services provider CoreLogic.

The rate of Durham-Chapel Hill area foreclosures among outstanding mortgage loans was 1.42 percent for January 2013, according to the CoreLogic data, for a decrease of 0.52 percentage points.

That’s compared to a year ago in January 2012, when the rate was 1.94 percent for the Durham-Chapel Hill core-based statistical area. Foreclosure activity in the area was also lower than the national foreclosure rate, which was 2.90 percent for January 2013.

The mortgage delinquency rate also fell in the area in January, according to CoreLogic data. The company reported 4.41 percent of mortgage loans were 90 days or more delinquent in the Durham-Chapel Hill area compared to 5.01 percent for the same period last year. That represents a decrease of 0.60 percentage points.

FDA again rejects United Therapeutics’ oral drug candidate

SILVER SPRING, Md., -- The U.S. Food and Drug Administration again rejected United Therapeutics Corp.’s drug application for an oral pulmonary arterial hypertension treatment, the company announced Monday.

The company said in a news release that it had received a second complete response letter from the FDA declining to approve its new drug application for the treatment.

United Therapeutics has three existing drugs for pulmonary arterial hypertension, a disorder characterized by high pressure in the pulmonary artery which carries blood from the heart to the lungs.

The company’s products include the injection treatment Remodulin, which is made with the compound treprostinil; an inhalation solution called Tyvaso made with the same compound; and a tablet called Adcirca made with a different active ingredient.

The company was seeking approval from the FDA for an oral drug for treatment of pulmonary arterial hypertension made with treprostinil. The company manufactured the drug candidate for clinical trials in the Research Triangle Park.

The company said in Monday’s release that it plans to immediately request an end-of-review meeting with the FDA to discuss the response letter, the release states.

BioCryst starts clinical trial

DURHAM--  BioCryst Pharmaceuticals announced Monday that it has started a Phase 1 clinical trial in healthy volunteers studying BCX4161 for the prevention of attacks in patients with the swelling condition hereditary angioedema.

Hereditary angioedema is a genetic condition that can lead to recurrent episodes of edema in various locations, including the hands, feet, face, genitalia and airway, according to information from the company. Airway swelling is particularly dangerous and can lead to death by asphyxiation.

“Daily, oral administration of a safe and efficacious prophylactic drug would revolutionize treatment for patients suffering from this serious condition,” said Jon P. Stonehouse, president and CEO of BioCryst, in a news release.

BioCryst has done non-clinical safety studies, as well as in vitro and in vivo studies of BCX4161. The clinical trial is being done at Quotient Clinical in the United Kingdom utilizing an integrated Translational PharmaceuticsTM platform. The results are expected to be announced this year. If the Phase 1 program achieves its goals, BioCryst plans to start Phase 2 studies.

The Durham-based drug development company had announced a restructuring last year follows the termination of a merger agreement and related financing deal with San Francisco-based Presidio Pharmaceuticals, as well as a series of drug development setbacks.