RESEARCH TRIANGLE PARK, N.C., Aug. 01, 2018 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) announced today the pricing of an underwritten public offering of 9,090,910 shares of its common stock, offered at a price to the public of $5.50 per share. The gross proceeds from this offering to BioCryst are expected to be $50 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by BioCryst. BioCryst has granted the underwriters a 30-day option to purchase up to an additional 1,363,636 shares of its common stock. The offering is expected to close on or about August 6, 2018, subject to customary closing conditions. BioCryst expects to use the net proceeds of this offering for general corporate purposes, which may include, but are not limited to, funding worldwide development, manufacturing, regulatory and commercial activities for the prophylactic and acute BCX7353 programs, focusing primarily on the United States, European Union and Japan; the advancement of development activities of our fibrodysplasia ossificans progressiva (“FOP”) and other preclinical rare disease program; post-approval commitments for RAPIVAB™/ALPIVAB™; and capital expenditures and general working capital needs.
J.P. Morgan and Jefferies are acting as joint book-running managers for the offering. JMP Securities is acting as lead manager for the offering.
About BioCryst Pharmaceuticals
BioCryst Pharmaceuticals designs, optimizes and develops novel small-molecule medicines that address both common and rare conditions. BioCryst has several ongoing development programs including BCX7353, an oral treatment for hereditary angioedema, galidesivir, a potential treatment for filoviruses, and a preclinical program to develop oral ALK-2 inhibitors for the treatment of FOP. RAPIVAB® (peramivir injection), a viral neuraminidase inhibitor for the treatment of influenza, is BioCryst’s first approved product and has received regulatory approval in the U.S., Canada, Australia, Japan, Taiwan, Korea and the European Union. Post-marketing commitments for RAPIVAB are ongoing.
