Why BioCryst Pharmaceuticals Stock Is Jumping on Monday
Shares of BioCryst Pharmaceuticals (NASDAQ: BCRX) are soaring today in response to unaudited sales figures from the fourth quarter and projections for the entire year. Investors excited about the successful launch of the company's only drug at the moment pushed the stock 22.1% higher as of 12:37 p.m. ET on Monday.
The Food and Drug Administration (FDA) approved BioCryst's first drug, Orladeyo, a little over a year ago. The first few quarters post-launch for the drug, which prevents attacks of hereditary angioedema, were less than inspiring. But preliminary fourth-quarter figures released today suggest the drug really can achieve more than $1 billion in annual sales.
Image source: Getty Images.
Source Fool.com