BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) announced today the pricing of an underwritten public offering of 18,711,113 shares of its common stock, offered at a price to the public of $4.50 per share. In addition, and in lieu of common stock, BioCryst is offering to certain investors pre-funded warrants to purchase up to an aggregate of 3,511,111 shares of common stock at a purchase price of $4.49 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.01 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds from this offering to BioCryst are expected to be $100 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 3,333,334 shares of its common stock. The offering is expected to close on or about June 1, 2020, 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, 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.

J.P. Morgan and Piper Sandler are acting as joint book-running managers for the offering. H.C. Wainwright & Co. and JMP Securities are acting as lead managers for the offering.