April 8 Quick Takes: Kaleido winding down operations

Having ended its chronic obstructive pulmonary disease program two months ago, the board of microbiome company Kaleido Therapeutics Inc. (NASDAQ:KLDO) voted to cease operations after the investment bank it had retained to explore strategic options failed to identify any suitable transactions. Backed initially by Flagship Pioneering, Kaleido was founded in 2015 and raised $148 million as a private company, $75 million in a 2019 IPO, and a combined $105 million in two follow-ons.

BioCryst Pharmaceuticals Inc. (NASDAQ:BCRX) lost more than $1.2 billion in  market cap Friday after pausing enrollment in the pivotal Phase II REDEEM-1 and REDEEM-2 trials of BCX9930 to treat paroxysmal nocturnal hemoglobinuria, and the proof-of-concept RENEW basket trial of the CFD inhibitor to treat C3 glomerulopathy, IgA nephropathy, and primary membranous nephropathy. The biotech said it saw elevations in serum creatinine levels among patients. BioCryst lost $6.76 (38%) to $11.12, leaving it with a market cap of about $2.1 billion...