BioCryst Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares and Completion of Public Offering of...
02 June 2020 - 6:01AM
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) announced today the
completion of an underwritten public offering of 22,044,447 shares
of its common stock, including 3,333,334 shares sold pursuant to
the exercise in full of the underwriters’ option to purchase
additional shares, and of pre-funded warrants to purchase up to an
aggregate of 3,511,111 shares of common stock. The gross
proceeds from this offering to BioCryst, including from the shares
sold pursuant to the underwriters’ option to purchase additional
shares, were approximately $115 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, 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
RAPIVAB™/ALPIVAB™; and capital expenditures and other general
working capital needs.
J.P. Morgan and Piper Sandler acted as joint
book-running managers for the offering. H.C. Wainwright & Co.
and JMP Securities acted as lead managers 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 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 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:John Bluth+1 919 859
7910jbluth@biocryst.com
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