Piper Sandler analyst Tyler Van Buren continues to believe that BioCryst's berotralstat should be approved in the U.S. and Japan later in the year and that a portion of HAE patients will prefer to be on an oral and will have sufficient clinical responses. However, in advance of these potential regulatory approvals, the analyst expects initial Phase I dose-ranging proof of concept data for the company's oral factor D inhibitor next quarter, where he hopes to see normalization of LDH and hemoglobin parameters in a few treatment-naive patients. While theres a "significant focus" on the galidesivir/COVID-19 opportunity, Van Buren has no idea if it will work or what the opportunity will be. The analyst lowered his price target on BioCryst to $8 from $10, while keeping an Overweight rating on the shares.