RESEARCH TRIANGLE PARK – The COVID-19 pandemic is not stopping many NC companies from making news with BioCryst, G1 Therapeutics, Charles & Covard and Akoustis among those generating headlines.

Here’s what’s happening:

BioCryst raises $115M

RESEARCH TRIANGLE PARK – 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.

BioCryst grants options to 5 new hires

RESEARCH TRIANGLE PARK – BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted five newly-hired employees inducement options to purchase an aggregate of 147,500 shares of BioCryst common stock on May 29, 2020 as inducements material to each employee entering into employment with BioCryst. The options were granted in accordance with NASDAQ Listing Rule 5635(c)(4).

The options have an exercise price of $4.50 per share, which is equal to the closing price of BioCryst common stock on the last business day prior to the grant date. The options vest in four equal annual installments beginning on the one-year anniversary of the grant date, in each case subject to the new employee’s continued service with the company. Each stock option has a 10-year term and is subject to the terms and conditions of BioCryst’s Inducement Equity Incentive Plan and a stock option agreement covering the grant.

G1 Thjerapeutics’ new $100M credit source

RESEARCH TRIANGLE PARK – G1 Therapeutics, Inc. (Nasdaq: GTHX), a clinical-stage oncology company, today announced that the company has entered into a debt financing agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $100 million. G1 plans to use the proceeds to fund commercialization and further development of trilaciclib, its first-in-class investigational therapy designed to improve outcomes for people with cancer treated with chemotherapy.

“We expect to file a New Drug Application for trilaciclib later this month for myelopreservation in small cell lung cancer. This financing strengthens our balance sheet as we prepare for commercial launch in our first indication and to execute a robust development plan to evaluate trilaciclib in additional tumor types,” said Mark Velleca, M.D., Ph.D., Chief Executive Officer.

The $100 million credit facility from Hercules is available in four tranches: the first tranche of $30 million is available at loan closing, of which the company plans to utilize $20 million immediately, with the remaining $10 million available through March 31, 2021; the second tranche of $20 million will be available upon achievement of  U.S. Food and Drug Administration approval of trilaciclib in small cell lung cancer and initiation of a registrational trial in metastatic colorectal cancer, to be available from January 1, 2021 through December 15, 2021; an additional tranche of $30 million will be available from April 1, 2021 through December 31, 2022, subject to certain terms and conditions, including in connection with net product revenues for trilaciclib; and a final tranche of $20 million will be available prior to December 31, 2022 to support strategic initiatives, subject to future approvals by Hercules.

Charles & Colvard’s new CEO

RESEARCH TRIANGLE PARK – Charles & Colvard, Ltd. (Nasdaq: CTHR), (the “Company”), the original and leading worldwide source of created moissanite, announced today that its Board of Directors appointed Don O’Connell to the position of President and Chief Executive Officer, effective June 1, 2020. He will also join the Company’s Board of Directors.

Mr. O’Connell, who most recently served as Chief Operating Officer and Senior Vice President, Supply Chain of Charles & Colvard, succeeds Suzanne Miglucci, who resigned as President and CEO and as a member of the Board of Directors, effective June 1, 2020.

Neal Goldman, Chairman of the Board of Directors of Charles & Colvard, said, “Even in these changing times, we believe the market opportunity continues to exist for our gemstones and jewelry, which offer exceptional quality and value, balanced with environmental and social responsibility. The Company has made significant progress over the past several years, growing Online Channels sales, expanding margins, achieving profitability, and maintaining a healthy balance sheet. We want to thank Suzanne for her visionary and strategic contributions, including pivoting to an e-commerce driven business, establishing a respected direct-to-consumer brand, building sophisticated digital marketing capabilities, and raising capital to fund future investments.”

Akoustis in Charlotte names sales exec

CHARLOTTE – Akoustis Technologies, Inc. (NASDAQ: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today that it has appointed Colin Hunt as the new VP of Global Sales. He will be responsible for driving global sales of the growing suite of XBAWTM filters to the 5G infrastructure, WiFi, 5G mobile and defense markets.

Colin brings extensive experience to his role at Akoustis with over 20 years of sales and management experience and a strong technical background in RF semiconductors. Most recently, Colin served as the Vice President of Global Sales at pSemi, a Murata company, where he was responsible for managing the world-wide sales and applications organizations.

Dave Aichele, EVP of Akoustis, commented, “Colin has a proven sales track record and a deep understanding of the RF market after many years managing sales organizations at top tier RF semiconductor companies.” Mr. Aichele continued, “As the demand for our XBAWTM filters continues to increase and as we add to our growing filter portfolio, Colin’s leadership will create more business opportunities globally and help Akoustis secure design wins and drive revenue growth moving forward.”

Sources for news: Company press releases