logo
  

BioCryst Pharma Withdraws Proposed Public Offering

BioCryst Pharmaceuticals Inc. (BCRX) said that it has withdrawn its proposed public offering. It believes that current market conditions are not conducive to an offering on terms that would be in the best interests of current stockholders.

BCRX closed Tuesday regular trading at $15.21 down $2.44 or 13.85%. But in the after-hours trading, the stock gained $1.54 or 10.16%.

The company said it is well capitalized, with cash, cash equivalents, restricted cash and investments of $222.8 million as of June 30, 2021.

The company believes current cash runway takes it into 2023. It is based on its expectations for revenue, operating expenses, and our option to access an additional $75 million from existing credit facility.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ontario, Canada-based Erie Meat Products Ltd. is recalling approximately 1,224 pounds of fully cooked chicken bologna products, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The chicken bologna products were imported and distributed into the United States without the benefit of FSIS import reinspection. The U. S. Food and Drug Administration or FDA has issued a public health alert against Fulvic Care Powder and Tablets from Ontario, Canada -based Black Oxygen Organics due to elevated levels of lead and arsenic. The agency advised consumers not to use Fulvic Care Powder and Tablets from Black Oxygen or give the products to pets due to elevated levels of lead and arsenic. Alexander & Hornung, a business unit of Perdue Premium Meat Co., Inc., is recalling around 234,391 pounds of fully cooked pork products citing possible contamination with Listeria monocytogenes, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves ham and pepperoni products that come under various brands and produced on various dates.
RELATED NEWS
Follow RTT