SCHEDULE: RA Capital Discloses 7.3% Passive Stake in BioCryst Pharma

RA Capital Management and its affiliates have reported a 7.3% passive ownership stake in BioCryst Pharmaceuticals, Inc., holding over 15 million shares.

Summary

• RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, and RA Capital Healthcare Fund, L.P. (collectively, the "Reporting Persons") have filed a Schedule 13G.
• The Reporting Persons collectively beneficially own 15,302,186 shares of BioCryst Pharmaceuticals, Inc. common stock.
• This ownership represents 7.3% of the outstanding common stock of BioCryst Pharmaceuticals, Inc.
• The percentage is based on 210,543,224 shares of common stock outstanding as of October 31, 2025, as reported in BioCryst's Quarterly Report on Form 10-Q filed with the SEC on November 4, 2025.
• The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G.
• The securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a standard disclosure of a passive ownership stake, providing no explicit positive or negative sentiment regarding the issuer's performance or outlook.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the issuer's future performance or outlook.

Industry Context

The disclosure of a significant passive stake by an institutional investor like RA Capital Management in a biotechnology company is a common occurrence in the industry, reflecting investment in the sector's potential.

Stakeholder Impact

• Shareholders are informed of a significant institutional investor's passive stake in the company, which may influence market perception.

Key Dates

Keywords

BioCryst Pharmaceuticals, RA Capital Management, Schedule 13G, beneficial ownership, common stock, institutional investment, healthcare fund