BioCryst Pharmaceuticals Commences Public Offering of Common Stock
September 11 2017 - 4:01PM
BioCryst Pharmaceuticals, Inc. (Nasdaq:BCRX) a biotechnology
company focused on the development and commercialization of
treatments for rare and infectious diseases, announced today that
it is offering to sell $80 million of its common stock in
an underwritten public offering. As part of this offering, BioCryst
intends to grant the underwriters a 30-day option to purchase up to
an additional $12 million of its common stock. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or the actual size
or terms of the offering.
J.P. Morgan Securities LLC and Barclays Capital
Inc. are acting as joint book-running managers for the proposed
offering.
All of the shares to be sold in the offering are
being sold by BioCryst, with the proceeds to be used for general
corporate purposes, which may include funding the global launch
preparation of BCX7353; expanding our global awareness and
commercial and manufacturing efforts; expanding our infrastructure,
including commercial and manufacturing, to benefit BCX7353 and the
rest of our programs; supporting the initiation of the Phase 3
clinical trial for BCX7353, the long term safety study, and all
remaining preclinical and clinical studies to support a new drug
application filing for BCX7353; funding an exploratory Phase 2
trial for acute treatment with BCX7353; and advancing our
early-stage programs into clinical trials.
A shelf registration statement on Form S-3
relating to the shares of common stock described above has been
previously filed with and declared effective by the U.S.
Securities and Exchange Commission (SEC). This press release
does not constitute an offer to sell, or the solicitation of an
offer to buy, these securities, nor will there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale is not permitted.
This offering is being made by means of a
prospectus supplement and related prospectus. A preliminary
prospectus supplement relating to the offering will be filed with
the SEC and will be available on its website
at www.sec.gov. Copies of the preliminary prospectus
supplement and accompanying prospectus may be obtained
from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 or by telephone: 1-866-803-9204 or from Barclays
Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 or by email:
Barclaysprospectus@broadridge.com or by telephone:
1-888-603-5847.
About BioCryst
Pharmaceuticals
BioCryst Pharmaceuticals designs, optimizes and
develops novel small molecule drugs that block key enzymes involved
in rare diseases. BioCryst has several ongoing development
programs: BCX7353 and second generation oral inhibitors of plasma
kallikrein for hereditary angioedema, and galidesivir, a broad
spectrum viral RNA polymerase inhibitor that is a potential
treatment for filoviruses. 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, Japan, Taiwan and Korea.
Post-marketing commitment development activities for RAPIVAB are
ongoing, as well as activities to support regulatory approvals in
other territories.
Forward-Looking Statements
This press release contains forward-looking
statements, including statements regarding future results and
achievements, use of proceeds and the completion of this offering.
These statements involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance,
achievements, or outcomes to be materially different from any
future results, performances, achievements, or outcomes expressed
or implied by the forward-looking statements, including risks and
uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to this
offering and other risks and uncertainties inherent in BioCryst's
business. Please refer to the documents that BioCryst files
periodically with the SEC, specifically BioCryst’s most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K, which identify important factors that
could cause the actual results to differ materially from those
contained in BioCryst's projections and forward-looking
statements.
BCRXW
CONTACT:
Thomas Staab, BioCryst Pharmaceuticals, +1-919-859-7910
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