RESEARCH TRIANGLE PARK, N.C., June 3, 2014 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq:BCRX) today announced the completion of an underwritten public offering of 11,500,000 shares of its common stock, including 1,500,000 shares sold pursuant to the full exercise of the underwriters' option to purchase additional shares. All of the shares were offered at a price to the public of $10.00 per share. The total gross proceeds from this offering to BioCryst, including the exercise of the option to purchase additional shares were $115 million, before deducting underwriting discounts and commissions and estimated offering expenses. BioCryst expects to use the net proceeds of this offering for general corporate purposes, including funding clinical development of BCX4161, the development of both second generation hereditary angioedema compounds, commercialization activities relating to peramivir and the advancement of other preclinical rare disease programs.
J.P. Morgan Securities LLC acted as the sole book-running manager and Piper Jaffray & Co. acted as sole lead manager, with Wells Fargo Securities, LLC, JMP Securities LLC, Mizuho Securities USA Inc., H.C. Wainwright & Co., LLC and Noble Financial Capital Markets as co-managers for the offering.
A shelf registration statement 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.
The offering described above was made by means of a prospectus supplement and related prospectus. A final prospectus supplement related to the offering was filed with the SEC on May 29, 2014 and is available on the SEC's website located at http://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.
About BioCryst Pharmaceuticals
BioCryst Pharmaceuticals designs, optimizes and develops novel small molecule drugs that block key enzymes involved in infectious and rare diseases, with the goal of addressing unmet medical needs of patients and physicians. BioCryst's core development programs include BCX4161 and two next generation oral inhibitors of plasma kallikrein for hereditary angioedema; peramivir, a viral neuraminidase inhibitor for the treatment of influenza; and BCX4430, a broad spectrum antiviral for hemorrhagic fevers.
This press release contains forward-looking statements, including statements regarding future results and achievements and the outcome 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. Please refer to the documents 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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