Amy

Amy, on behalf of Maury Raycroft, asked for specifics on how BioCryst would provide updates and disclosure for the navenibart program. She also inquired about the strategy to potentially accelerate FDA timelines for the program.

Answer

President and CEO Charlie Gayer stated updates would likely occur once the pivotal study is fully enrolled. He and Chief Development Officer Dr. Bill Sheridan mentioned focusing on accelerating timelines by starting BLA writing early and gaining clarity from the FDA at a pre-BLA meeting regarding total BLA content.

Amy requested more specifics on BioCryst's strategy for providing updates and disclosures regarding the navenibart program. She also asked about the company's approach to potentially accelerating timelines with the FDA.

Answer

President and CEO Charlie Gayer indicated that updates on navenibart would likely be provided once the pivotal study is fully enrolled. He and Chief Development Officer Dr. Bill Sheridan noted that accelerating timelines is a focus, including starting BLA writing early, but clearer timing will emerge after the last patient's last visit and a pre-BLA meeting with the FDA.

Amy inquired about the concentration of remaining deliveries and lease-ups from the current supply cycle (urban versus suburban) and where future developments would likely concentrate if interest rates continue to decline and development activity increases.

Answer

Matt Birenbaum, Chief Investment Officer, indicated that for the next year, more deliveries are still expected in urban sub-markets than suburban, although the gap is narrowing. He noted that current development economics favor suburban sub-markets, but entitlements are more challenging there. He also mentioned that cities are increasingly incentivizing adaptive reuse of outdated office buildings to multifamily in urban cores, which could lead to quicker supply materialization.