BioCryst Pharmaceuticals Prices Public Offering of Common Stock
September 12 2017 - 9:00PM
BioCryst Pharmaceuticals, Inc. (Nasdaq:BCRX) announced today the
pricing of an underwritten public offering of 15,533,981 shares of
its common stock, offered at a price to the public of $5.15 per
share. The gross proceeds from this offering to BioCryst are
expected to be $80 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 2,330,097 shares of its
common stock. The offering is expected to close on or about
September 15, 2017, subject to customary closing conditions.
BioCryst expects to use the net proceeds of this offering 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.
J.P. Morgan Securities LLC and Barclays Capital
Inc. are acting as joint book-running managers for the offering.
H.C. Wainwright & Co., LLC is acting as co-manager for the
offering.
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 has been filed with
the SEC and is available on its website at www.sec.gov.
Copies of the final prospectus supplement, when available, 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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