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Slide #78. BioCryst Pharmaceuticals, Inc. — Presidio Pharmaceuticals, Inc.
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)
Presidio Pharmaceuticals, Inc.
BioCryst Pharmaceuticals, Inc. and privately held Presidio Pharmaceuticals, Inc. today announced that the companies have signed a definitive merger agreement for Presidio to be acquired by BioCryst in an all-stock transaction. The transaction has been approved by the Boards of both companies. The transaction values Presidio at approximately $101 million, based on yesterday's closing BioCryst share price of $4.11 per share. The transaction is expected to close in the first quarter of 2013, and is subject to customary conditions, including approval by BioCryst shareholders.
BioCryst Pharmaceuticals is a biotechnology company that discovers oral, small-molecule medicines. Co. focuses on oral treatments for rare diseases in which unmet medical needs exist and an enzyme plays the main role in the biological pathway of the disease. Co.'s drug/drug candidates include: Berotralstat (BCX7353), an oral serine protease inhibitor targeting kallikrein that is being developed as a once-daily oral therapy for the prevention of Hereditary Angioedema; BCX9930, an oral factor D inhibitor for the treatment of complement-mediated diseases; and BCX9250, an oral activin receptor-like kinase-2 inhibitors for the treatment of fibrodysplasia ossificans progressive.
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Strong Buy (3.56 out of 4)