BioCryst Pharmaceuticals, Inc. announced 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.
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.
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 Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com.
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.
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.
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CONTACT: Thomas Staab, BioCryst Pharmaceuticals, +1-919-859-7910
