BioCryst Plans to Raise $100 Million
On the cusp of launching berotralstat as a treatment for hereditary angioedema in the U.S. and EU, BioCryst Pharmaceuticals (NASDAQ: BCRX) is planning to sell $100 million of stock in a secondary offering. Of course, with shares up 142% since BioCryst announced last month that it was testing its antiviral medication galidesivir in patients with COVID-19, now seems like as good a time as any to grab some additional cash. BioCryst was trading down 4% in after hours trading on the news of the secondary offering that will dilute shareholders by about 13%.
