Presidio, BioCryst call off $101 million merger
Presidio Pharmaceuticals is leaving BioCryst Pharmaceuticals ($BCRX) at the altar. The companies announced today that their $101 million marriage is off. What broke up the two, whose hepatitis C pipelines seemed so compatible? Ever since the engagement was announced in October, BioCryst has had one pipeline disaster after another. It killed plans for an early-stage trial of its experimental NS5B inhibitor BCX5191 over toxicity concerns. Its late-stage study of its flu drug peramivir crashed and then BioCryst announced that the FDA slapped a clinical hold on development of BCX41 for hereditary angioedema.
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