BioCryst Pharmaceuticals Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares and Completion of Pu...
September 15 2017 - 12:00PM
BioCryst Pharmaceuticals, Inc. (Nasdaq:BCRX) announced today the
completion of an underwritten public offering of 17,864,078 shares
of its common stock, including 2,330,097 shares sold pursuant to
the exercise in full of the underwriters’ option to purchase
additional shares. The gross proceeds from this offering to
BioCryst, including from the shares sold pursuant to the
underwriters’ option to purchase additional shares, were $92
million, before deducting underwriting discounts and commissions
and other estimated offering expenses payable by BioCryst.
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. acted as joint book-running managers for the offering. H.C.
Wainwright & Co., LLC acted 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 was made by means of a prospectus
supplement and related prospectus. A 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 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 and use of proceeds. 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 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
BioCryst Pharmaceuticals (NASDAQ:BCRX)
Historical Stock Chart
From Mar 2024 to Apr 2024
BioCryst Pharmaceuticals (NASDAQ:BCRX)
Historical Stock Chart
From Apr 2023 to Apr 2024