On November 19, 2019, BioCryst Pharmaceuticals, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with 667, L.P. (“667”) and Baker Brothers Life Sciences, L.P. (“Baker Brothers” and, together with 667, “Buyers”), to which the Company agreed to issue and sell, in a registered public offering by the Company directly to Buyers (the “Offering”), pre-funded warrants to purchase up to an aggregate of 11,764,706 shares of the Company’s common stock (“Common Stock”) at an offering price of $1.69 per share (the “Pre-Funded Warrants”). Upon closing of the Offering, the Company expects to receive proceeds of approximately $19.9 million. The Pre-Funded Warrants and the shares of Common Stock underlying the Pre-Funded Warrants are being offered by the Company to a registration statement on Form S-3 (File No. 333-221421), which was declared effective by the Securities and Exchange Commission on December 12, 2017.

The Pre-Funded Warrants will have an exercise price of $0.01 per share, which is subject to adjustment in the event of certain stock dividends and distributions, stock splits, stock combinations, reclassifications or similar events affecting the Common Stock and also upon any distributions of assets to the Company’s stockholders. Each Pre-Funded Warrant will be exercisable upon issuance. In the event of certain corporate transactions, the holder of the Pre-Funded Warrants will be entitled to receive, upon exercise of the Pre-Funded Warrants, the kind and amount of securities, cash or other property that the holders would have received had they exercised the Pre-Funded Warrants immediately prior to such transaction. The Pre-Funded Warrants do not contain voting rights or provide the holders of the Pre-Funded Warrants with any other rights or privileges as holders of the Common Stock.

The foregoing summary of the Pre-Funded Warrants and the Purchase Agreement, does not purport to be complete and is subject to, and qualified in its entirety by the Purchase Agreement (and the form of pre-funded warrant attached thereto) attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.

This Current Report on Form 8-K does not constitute an offer to sell any securities or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

(d) Exhibits

BIOCRYST PHARMACEUTICALS INC Exhibit
EX-10.1 2 ex10_1.htm EXHIBIT 10.1 Exhibit 10.1 SECURITIES PURCHASE AGREEMENT   THIS SECURITIES PURCHASE AGREEMENT (the “Agreement”) is made as of the 19th day of November,…
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About BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)

BioCryst Pharmaceuticals, Inc. (BioCryst) is a biotechnology company. The Company designs, optimizes and develops small molecule drugs that block enzymes involved in the pathogenesis of diseases. The Company focuses on the treatment of rare diseases. The Company uses X-ray crystallography, computer modeling of molecular structures and chemistry techniques to focus on the three-dimensional molecular structure and active site characteristics of the enzymes that control cellular biology. Its drug candidates include RAPIVAB, RAPIACTA, PERAMIFLU, Avoralstat, BCX7353, other second generation hereditary angioedema (HAE) compounds, BCX4430 and Forodesine. Its product RAPIVAB contains peramivir. Peramivir is an intravenous neuraminidase inhibitor approved in various countries for the treatment of patients with influenza, in the United States as RAPIVAB. RAPIVAB is used for the treatment of acute uncomplicated influenza. Its BCX4430 is a broad-spectrum antiviral (BSAV) research program.