BioCryst Shares Plunge on Disappointing Drug Data

BioCryst Pharmaceuticals announced disappointing results of a mid-stage clinical trial for its bird flu treatment peramivir, sending shares down sharply in after-hours trading.

The Birmingham, Ala.-based company said preliminary results from a Phase II clinical trial of influenza patients were not statistically significant.

The stock was down at $7.60 in electronic trade after closing on the Nasdaq at $11.78.