BioCryst Pharmaceuticals (NASDAQ:BCRX) plans to raise $20 million through a stock sale, which the company plans to use to get a one drug candidate ready for the market and another one ready for mid-stage clinical trials.

The offering, announced Tuesday after the close of the markets, is part of a shelf registration that the Durham company had previously filed with the Securities and Exchange Commission. BioCryst said the offering, which the company expects will price on Wednesday, will total no more than $20 million in gross proceeds. BioCryst is selling all of the shares in the offering. Wells Fargo Securities and JMP Securities are acting as joint book-running managers, with Noble Financial Capital Markets acting as co-manager for the proposed offering. Underwriters will have a 30-day option to purchase shares of BioCryst’s common stock.

The offering comes about a week after BioCryst announced positive phase I clinical trial results for BCX4161, a compound being studied as a treatment for the rare blood disorder hereditary angiodema, or HAE. Those results boosted BioCryst stock, which had sunk amid lingering questions about compounds in the company’s drug pipeline. In the prospectus filed with the SEC, BioCryst said that proceeds from the offering will be used to fund clinical development of BCX4161 as well as development of another compound which would be a second generation treatment for HAE.

The proceeds would also support precommercialization activities for intravenous peramivir, an influenza treatment that the company developed under a $235 million contract from the Biomedical Advanced Research and Development Authority, or BARDA. BioCryst suspended phase III clinical trials of the experimental flu treatment late last year after an interim analysis showed little difference between the compound and the control group. But BioCryst has since met with the Food and Drug Administration and reached agreement on a path for drug approval. BioCryst said earlier this month it plans to file a peramivir new drug application with the FDA by the end of the year.

Shares in BioCryst closed Tuesday at $3.98, down 9.13 percent.