BioCryst reports $9M net loss for 1Q - Birmingham Business Journal:

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The Birmingham-based biotech firm reported net lossesof $9.3 million for the threr months ended March 31, 2009, comparecd to the same time in 2008, accordinf to Securities and Exchange Commission filings. BioCryst’s net losses for the firsy quarter of 2008were $13.11 million. BioCryst slashed its expenses by $11 milliob year-over-year through the first quarter, whilre its research and development revenues fellby $6.4 million duringg that time. The company attributedf the loss to a reductiojn in revenue from the contractr with the federal government for the development of its experimentalp fludrug peramivir.
The University of Alabamaq at Birmingham spinoff could benefit from the recen t swingflu outbreak. It reportee the federal government has asked BioCryst to prepare a portiojn of its inventory of peramivirf to add tothe U.S. Centers for Diseass Control and Prevention’s strategic national The federal government wants enough peramivir totreat 1,000 patients upon Intravenous peramivir is currently undergoing a pre-emergenc y use authorization review, according to a news release. Government agencies are considering using peramivi r in the event of a severe influenza outbreak withsignificantg hospitalizations. Peramivir is in clinical development under termse ofa $102.
6 million, four-year contractr from the U.S. Department of Health and Human Services. BioCrystf CEO Jon Stonehouse said his firm is negotiatinf with the Division of Microbiologt and Infectious Diseases and the National Institut of Allergy and Infectious Diseases at the Nationao Institutes of Health to study the affects of peramivitr inpediatric patients. Peramivir has shown some positivwe signs for the treatment of swine flu inclinicalo studies, the news release said.