BioCryst Stock Jumps After Pulling Out $200M Equity Raise

BioCryst Pharmaceuticals Inc BCRX has withdrawn its proposed public offering of $200 million of its stock and pre-funded warrants.
The Company says that it is well-capitalized, with cash, cash equivalents, restricted cash, and investments of $222.8 million as of June 30, 2021.
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.
Price Action: BCRX shares are up 8.45% at $16.49 during the premarket session on the last check Wednesday.