BioCryst Pharmaceuticals’ share price rises 30% amid Reddit interest rates

• BioCryst Pharmaceuticals jumped to a five-year high on Monday, fueled by interest from Reddit investors.
• The stock closed 39% higher after rising to 41% in intraday trading.
• The move follows a message on the subreddit r / WallStreetBets calling the company ‘the most undervalued stock in the market’.
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BioCryst Pharmaceuticals rose 39% on Monday to a five-year high when Reddit investors declared a “BioWar” against short-sellers investing in the stock. The move follows a message on the subreddit r / WallStreetBets calling the company ‘the most undervalued stock in the market’.

The message was aimed at a new drug known as Orladeyo, a single-use pill approved by the U.S. Food and Drug Administration in December 2020 to prevent attacks of hereditary angioedema (HAE). HAE is a genetically rare problem with the immune system that causes swelling and cramps in the abdomen.

The Reddit post mentions the December approval in the US, as well as recent approval in Japan and an expected OK from the European Union in the second quarter of 2021.

In a single day, users meanwhile voted 400 times – which is equivalent to affection or affection on other social media platforms – and commented on it more than 600 times.

The events fueled by the Reddit army, as seen in GameStop and AMC Entertainment, highlight the growing influence of retail investors. The stock market frenzy in recent days has been investigated by lawmakers and the Securities and Exchange Commission.

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