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Biotech / Medical : Biocryst Pharmaceuticals Inc (BCRX)

BCRX 6.875

-2.2%

1:21 PM EST

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From: scaram(o)uche	1/22/2007 10:37:03 PM
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bloomberg.com Toyama Shares Surge on Plan to Test Bird Flu Drug (Update1) By Hiroshi Suzuki Jan. 23 (Bloomberg) -- Shares of Toyama Chemical Co. gained as much as 11 percent on the company's plan to start clinical tests in Japan on a drug that may be used to treat bird flu. The stock rose as much as 84 yen to 854 yen, and traded 8.3 percent higher at the 11 a.m. morning break on the Tokyo Stock Exchange, headed for its biggest one-day gain in four months. ``We are preparing to start clinical tests of the drug soon,'' Toyama Chemical spokesman Hisayuki Mitani said in response to a Nikkei newspaper report that the company may begin trials this week. He didn't give a specific timing. The experimental influenza treatment, known as T-705, is designed to treat type-A and type-B influenza as well as the H5N1 version of bird flu. In August, the company said it expected to start phase I clinical trials of the drug by the end of 2006 in Japan and the U.S. ``It is too early to make an appropriate evaluation on this drug,'' said Shunichiro Manome, an analyst with Cosmo Securities Co. in Tokyo. ``The development hurdle for the drug is high.'' T-705 is the company's biggest hope after Schering-Plough Corp. in August last year withdrew an application to sell Toyama Chemical's flu-fighting antibiotic in the U.S.

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