Business Briefs

Feb. 26, 2014 @ 06:52 PM

BioCryst narrows 4Q net loss

DURHAM – BioCryst Pharmaceuticals reported a narrower net loss of $5.4 million in the fourth quarter on boosted revenues from its development contract for an antiviral treatment for influenza.

The company recently saw a stock surge on news that the U.S. Food and Drug Administration accepted the new drug application for peramivir for review.

The company’s revenues grew more than 158 percent to $10.6 million primarily due to an increase in revenue from its contract with the Biomedical Advanced Research and Development Authority/U.S. Department of Health and Human Services for peramivir’s development.

Research and development expenses also grew 13 percent in the quarter to $15.6 million, related to higher costs for peramivir and development of a hereditary angioedema treatment.

N.C. Biotech Center awards $1.6 million in the second fiscal quarter

DURHAM – The N.C. Biotechnology Center awarded more than $1.6 million in grants and loans for biotechnology-related work during the second quarter of fiscal year 2014, the center announced Wednesday.

The grants and loans were distributed in seven different programs across the state in the quarter, supporting life-science entrepreneurship, technology commercialization and growth.

The center has distributed grants and loans since about 1984.