Biocryst Pharma is a biotechnology company focused on developing and commercializing innovative treatments for rare diseases. The company specializes in designing and synthesizing novel small-molecule drugs, particularly those targeting diseases associated with viral infections and genetic disorders. With a commitment to improving patient outcomes, Biocryst employs cutting-edge research and clinical development strategies to bring effective therapies to market, aiming to address unmet medical needs in challenging therapeutic areas.
PALM BEACH, Fla., Aug. 06, 2024 (GLOBE NEWSWIRE) -- FinancialNewsMedia.com News Commentary - The demand for antiviral drugs has been increasing globally due to the growing prevalence of viral diseases. Customers are increasingly seeking antiviral drugs that are effective against a wide range of viruses and have minimal side effects. They also prefer drugs that are easy to administer and have a shorter treatment duration. The Antiviral Drugs segment is expected to experience significant growth, which is mainly driven by the testing of novel treatments for COVID-19. There are also more general drivers of the market: the rising number of HIV cases worldwide and the need for continuous development in the field of antiviral drugs. A report from Statista said that: “The projected revenue in the Antiviral Drugs market worldwide is estimated to reach US$51.18bn in 2024. It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 1.58%, leading to a market volume of US$55.36bn by 2029. In terms of global comparison, United States is anticipated to generate the highest revenue, with US$30,640.00m in 2024. In the worldwide market for antiviral drugs, the United States leads in research and development, driving innovation and setting industry standards.” Active Biotechs in the biotech markets today include: NanoViricides, Inc. (NYSE: NNVC), BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX), Veru Inc. (NASDAQ: VERU), Chimerix (NASDAQ: CMRX), SIGA Technologies, Inc. (NASDAQ: SIGA).
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BioCryst reported quarterly losses of 28 cents per share, missing the analyst consensus estimate of losses of 24 cents by 16.67% and representing a 26.32% increase over losses of 38 cents per share from the same period last year. The company reported quarterly sales of $93.4 million which beat the analyst consensus estimate of $90.01 million by 3.77% and is a 17.42% increase over sales of $79.55 million from the prior year's quarter.
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Shares of RxSight, Inc. (NASDAQ: RXST) rose sharply during Monday’s session after the company issued preliminary FY23 and FY24 revenue guidance above estimates. Also, Needham maintained a Buy rating on the stock and raised its price target from $35 to $41.
