BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On September 10, 2019, BioCryst Pharmaceuticals, Inc. (the “Company”) together with its consolidated subsidiary, MDCP, LLC, a Delaware limited liability company (“MDCP,” and the Company together with MDCP, collectively, the “Borrowers”), entered into an amendment (the “First Amendment”) to that certain Second Amended and Restated Credit and Security Agreement, dated as of February 5, 2019 (the “Credit Agreement”), among the Borrowers, MidCap Financial Trust, a Delaware statutory trust, as administrative agent and lender (“MidCap”), and the lenders party thereto from time to time. The First Amendment revised the definition of “Commitment Termination Date” with respect to the $30 million second tranche (“Tranche 2”) of available borrowing capacity under the Credit Agreement to extend the deadline for the Borrowers to draw upon Tranche 2 to November 30, 2019.
Additionally, on September 13, 2019, the Borrowers, MidCap, and the lenders party to the Credit Agreement entered into an additional amendment (the “Second Amendment”) to the Credit Agreement. The Second Amendment revised the definitions of “Permitted Indebtedness” and “Permitted Liens” to permit the Borrowers to incur up to $1.5 million of indebtedness from time to time in connection with the financing of insurance premiums.
The other material terms of the Credit Agreement remain unchanged.
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.