DURHAM – BioCryst Pharmaceuticals is raising $100 million through stock and warrant offerings.
The firm said it is selling more than 22 million shares and warrants to raise the cash at prices of $4.50 and $4.49 each.
Another 3.3 million shares are available to the underwriters of the offering. Shares of BCRX were selling at $4.74 Thursday afternoon.
“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” related to its drug portfolio, the company said.
BioCryst discovers small-molecule medicines that treat rare diseases for which there is a significant unmet need. The company focuses on illnesses in which enzymes play a key role in the biological pathway.
The firm also is committed to a clinical trial in Brazil to see if its investigational anti-viral drug is effective in treating the COVID-19 coronavirus.
