BioCryst Pharmaceuticals Inc (NASDAQ:BCRX) has withdrawn its proposed public offering of $200 million of its stock and pre-funded warrants.
The Company, originating out of the quaintly-named town of Research Triangle Park, North Carolina, says that it is well-capitalized, with cash, cash equivalents, restricted cash, and investments of $222.8 million as of June 30,.
Based on expectations for revenue, operating expenses, and the option to access an additional $75 million from the existing credit facility, BCRX believes current cash runway into 2023.
BioCryst discovers novel, oral, small-molecule medicines that treat rare diseases in which significant unmet medical needs exist and an enzyme plays a key role in the biological pathway of the disease.
Oral, once-daily ORLADEYO ® (berotralstat) is approved in the United States, the European Union, Japan and the United Kingdom for the prevention of HAE attacks in adults and pediatric patients 12 years and older.
BioCryst has several ongoing development programs including BCX9930, an oral Factor D inhibitor for the treatment of complement-mediated diseases, BCX9250, an ALK-2 inhibitor for the treatment of fibrodysplasia ossificans progressiva, and galidesivir, a potential treatment for Marburg virus disease and Yellow Fever. RAPIVAB ® (peramivir injection), a viral neuraminidase inhibitor for the treatment of influenza, has received regulatory approval in the U.S., Canada, Australia, Japan, Taiwan and Korea. Post-marketing commitments for RAPIVAB are ongoing.
BCRX shares are up 54 cents, or 3.5%, at $15.74 soon after the opening bell Wednesday.
Related Stories
