BioCryst Pharmaceuticals (NASDAQ: BCRX, Stock Forum), the life sciences component of Stockhouse service Ticker Trax, hit a new 52-week high on Tuesday, rising as much as 21% in midday trading on NASDAQ.

The company, whose shares were most recently up 17% to $7.27, announced no news on Tuesday, but reported positive results last Friday from two Phase 3 studies of its influenza treatment, intravenous peramivir, in patients with seasonal flu.

BioCryst’s partner, Japan’s Shionogi & Co conducted a three-armed, multi-center, randomized, double-blind, multi-national Phase 3 study during the 2008-2009 flu season, comparing the effectiveness and safety of a single dose of peramivir to treatment with Tamiflu twice a day for five days.

The company reported that both the 300 mg and 600 mg single dose peramivir groups demonstrated “non-inferiority for the primary endpoint, time to alleviation of symptoms” compared to the Tamiflu group.

Shares of BioCryst have been surging as of late, up 41% to $5.95 Friday and climbing an additional 4% on Monday.

Thom Calandra, editor of Ticker Trax, said BioCryst is likely days away from seeing peramivir named an Emergency Use Authorization drug for seriously ill influenza patients in the USA. Such a designation by federal health agencies in the USA would pave the way for stockpiling of peramivir, a protein inhibitor antiviral agent.

"If, heaven forbid, the influenza season with H1N1 worsens in virulence or transmissibility, in north or south hemispheres, we expect BioCryst to see sales of the intravenous peramivir in the hundreds of millions of dollars," Mr. Calandra said. Thom Calandra added the company has great value as a discovery lab for new compounds to treat autoimmune diseases and possibly cardiac arrrest. One of BioCryst's drugs, forodesine for leukemia, is in Phase III human trials.

Thom Calandra's Ticker Trax (www.tickertrax.com), a subscription service of Stockhouse, named BioCryst as one of eight Planetary Prospects in December 2008.

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