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Fly News Breaks for July 11, 2018
IDRA, BCRX
Jul 11, 2018 | 08:45 EDT
JMP Securities analyst Liisa Bayko said she was "not overly surprised" that a majority of BioCryst (BCRX) shareholders voted against the proposed merger with Idera Pharmaceuticals (IDRA) given that Idera's second most advanced program, IMO-8400 in dermatomyositis, had a Phase 2 trial failure. Bayko, who continues to believe there is a disconnect between investor and physician perceptions of the value of BCX7353 for hereditary angioedema, keeps an Outperform rating and $12 price target on BioCryst shares.
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