BioCryst Commences Public Offering of Common Stock and Pre-Funded Warrants
28 May 2020 - 6:01AM
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) announced today that
it is offering to sell $100 million of its common stock
and, in lieu of common stock, to offer and sell to certain
investors pre-funded warrants to purchase shares 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 additional shares of common stock in an amount equal to up
to 15% of the securities offered in the public offering. 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 and Piper Sandler are acting as
joint book-running managers for the offering.
All of the securities to be sold in the
offering are being sold by BioCryst, with the proceeds to be used
for general corporate purposes, which may include, but are not
limited to, worldwide development, manufacturing, regulatory,
pre-launch and commercial activities for the prophylactic
berotralstat (BCX7353) program in the United States and European
Union; advancement of the worldwide development, manufacturing,
regulatory and clinical activities for BCX9930 for
complement-mediated diseases; post-approval commitments for
RAPIVABTM/ALPIVABTM; and capital expenditures and other general
working capital needs.
A shelf registration statement on Form S-3
relating to the securities being offered by BioCryst 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 at 1-866-803-9204, or Piper Sandler
& Co., Attention: Prospectus Department, 800 Nicollet Mall,
J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924, or
by email at prospectus@psc.com.
About BioCryst
Pharmaceuticals
BioCryst Pharmaceuticals discovers novel, oral,
small-molecule medicines that treat rare diseases in which
significant unmet medical needs exist and an enzyme plays a key
role in the biological pathway of the disease. BioCryst has several
ongoing development programs including berotralstat (BCX7353), an
oral treatment for hereditary angioedema, BCX9930, an oral Factor D
inhibitor for the treatment of complement-mediated diseases,
galidesivir, a potential treatment for COVID-19, Marburg virus
disease and Yellow Fever, and BCX9250, an ALK-2 inhibitor for the
treatment of fibrodysplasia ossificans progressiva. 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, granting the underwriters an option
to purchase additional shares 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:John Bluth+1 919 859
7910jbluth@biocryst.com
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