Biocryst Pharmaceuticals Inc (BCRX): Billionaire David E. Shaw’s Fund Increases Stake

Billionaire David E. Shaw‘s D E Shaw has recently filed a Form 13G with the US SEC in which it reported holding 3.74 million common shares of Biocryst Pharmaceuticals Inc (NASDAQ:BCRX), which account for 5.1% of the company’s outstanding stock. This represents an increase in the stake as the fund previously held 3.43 million shares, as disclosed in its last 13F filing, for the end of June.

Biocryst Pharmaceuticals is a pharmaceutical company engaged in the development and production of novel small-molecule therapies that block key enzymes and help treat many rare disorders. Recently, the company announced the start of the APeX-1 Clinical Trial of BCX7353 for treating hereditary angioedema, and the first results of the trial are expected at the end of the year. For the second quarter of 2016, Biocryst Pharmaceuticals reported revenue of $4.79 million and a loss per share of $0.22, compared to revenue of $25.84 million and earnings per basic share of $0.07 for the same period in the previous year. Earlier this month, Piper Jaffray upgraded its rating on Biocryst Pharmaceuticals’ stock to ‘Overweight’ from ‘Neutral’ and raised its price target to $8.00 from $5.00, while HC Wainwright reiterated its ‘Buy’ rating and JP Morgan Chase & Co. reiterated its ‘Hold’ rating.

D. E. Shaw

At the end of June, investors from our database that were bullish on Biocryst Pharmaceuticals Inc (NASDAQ:BCRX) also included Anders Hove and Bong Koh’s  VHCP Management, with a position valued at close to $2.9 million, Chuck Royce’s Royce & Associates, with a $454,000 position, Gavin Saitowitz and Cisco J. Del Valle’s Springbok Capital, and Ken Greenberg and David Kim’s Ghost Tree Capita, which  initiated a new position and had $4.83 million invested in the company. A fund that decided to sell its position in Biocryst Pharmaceuticals Inc (NASDAQ:BCRX) was Jim Simons’ Renaissance Technologies.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
D. E. Shaw Co. 0 3,698,639 0 3,740,239 3,740,239 5.1%
David E. Shaw 0 3,698,639 0 3,740,239 3,740,239 5.1%

David E. Shaw
David E. Shaw
D E Shaw

Page 1 of 6 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

 

BioCryst Pharmaceuticals, Inc.

(Name of Issuer)

Common stock, par value $0.01

(Title of Class of Securities)

 

 

09058V103

(CUSIP Number)

 

 

August 11, 2016

(Date of Event Which Requires Filing of
this Statement)

Check the following box to designate the rule pursuant to which
the Schedule is filed:

¨ Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a
reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).

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Page 2 of 6 – SEC Filing

CUSIP No. 09058V103

1.

Names of Reporting Persons

I.R.S. Identification Nos. of above persons (entities only)

D. E. Shaw & Co., L.P.

13-3695715

2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [     ]

(b)

[     ]
3.

SEC Use Only

4.

Citizenship or Place of Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

5.

Sole Voting Power

-0-

6.

Shared Voting Power

3,698,639

7.

Sole Dispositive Power

-0-

8.

Shared Dispositive Power

3,740,239

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

3,740,239

10.

Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) [     ]

11.

Percent of Class Represented by Amount in Row (9)

5.1%

12.

Type of Reporting Person (See Instructions)

IA, PN

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Page 3 of 6 – SEC Filing

CUSIP No. 09058V103

1.

Names of Reporting Persons

I.R.S. Identification Nos. of above persons (entities only)

David E. Shaw

2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [     ]

(b)

[     ]
3.

SEC Use Only

4.

Citizenship or Place of Organization

United States

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

5.

Sole Voting Power

-0-

6.

Shared Voting Power

3,698,639

7.

Sole Dispositive Power

-0-

8.

Shared Dispositive Power

3,740,239

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

3,740,239

10.

Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) [     ]

11.

Percent of Class Represented by Amount in Row (9)

5.1%

12.

Type of Reporting Person (See Instructions)

IN

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Page 4 of 6 – SEC Filing

Item 1.
(a) Name of Issuer
BioCryst Pharmaceuticals, Inc.

(b)

Address of Issuer’s Principal Executive Offices

4505 Emperor Blvd., Suite 200

Durham, NC 27703

Item 2.
(a) Name of Person Filing

D. E. Shaw & Co., L.P.

David E. Shaw

(b) Address of Principal Business Office or, if none, Residence

The business address for each reporting person is:

1166 Avenue of the Americas, 9th Floor

New York, NY 10036

(c)

Citizenship

D. E. Shaw & Co., L.P. is a limited partnership organized
under the laws of the state of Delaware.

David E. Shaw is a citizen of the United States of America.

(d) Title of Class of Securities
Common stock, par value $0.01
(e) CUSIP Number
09058V103

Item 3.

If this statement is filed pursuant to Rule
13d-1(b) or 13d-2(b) or (c), check whether the person filing is a:

Not Applicable

Item 4. Ownership

As of August 11, 2016:

(a) Amount beneficially owned:

D. E. Shaw & Co., L.P.:

3,740,239 shares

This is composed of (i) 1,912,534 shares in the name
of D. E. Shaw Valence Portfolios, L.L.C., (ii) 1,426,384 shares in the name of D. E. Shaw Oculus Portfolios,
L.L.C., and (iii) 401,321 shares under the management of D. E. Shaw Investment Management, L.L.C.

David E. Shaw:

3,740,239 shares

This is composed of (i) 1,912,534 shares in the name
of D. E. Shaw Valence Portfolios, L.L.C., (ii) 1,426,384 shares in the name of D. E. Shaw Oculus Portfolios, L.L.C., and (iii)
401,321 shares under the management of D. E. Shaw Investment Management, L.L.C.

(b) Percent of class:
D. E. Shaw & Co., L.P.: 5.1%
David E. Shaw: 5.1%

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Page 5 of 6 – SEC Filing

(c) Number of shares to which the person has:
(i) Sole power to vote or to direct the vote:
D. E. Shaw & Co., L.P.: -0- shares
David E. Shaw: -0- shares   
(ii) Shared power to vote or to direct the vote:
D. E. Shaw & Co., L.P.: 3,698,639 shares     
David E. Shaw: 3,698,639 shares   
(iii) Sole power to dispose or to direct the disposition of:
D. E. Shaw & Co., L.P.: -0- shares   
David E. Shaw: -0- shares   
(iv) Shared power to dispose or to direct the disposition
of:
D. E. Shaw & Co., L.P.: 3,740,239 shares   
David E. Shaw: 3,740,239 shares   

David E. Shaw does not own any shares directly. By virtue of
David E. Shaw’s position as President and sole shareholder of D. E. Shaw & Co., Inc., which is the general partner of
D. E. Shaw & Co., L.P., which in turn is the manager and investment adviser of D. E. Shaw Valence Portfolios, L.L.C., the investment
adviser of D. E. Shaw Oculus Portfolios, L.L.C., and the managing member of D. E. Shaw Investment Management, L.L.C., and by virtue
of David E. Shaw’s position as President and sole shareholder of D. E. Shaw & Co. II, Inc., which is the managing member
of D. E. Shaw & Co., L.L.C., which in turn is the manager of D. E. Shaw Oculus Portfolios, L.L.C., David E. Shaw
may be deemed to have the shared power to vote or direct the vote of 3,698,639 shares, and the shared power to dispose or direct
the disposition of 3,740,239 shares, the 3,740,239 shares as described above constituting 5.1% of the outstanding shares and, therefore,
David E. Shaw may be deemed to be the beneficial owner of such shares. David E. Shaw disclaims beneficial ownership of
such 3,740,239 shares.

Item 5. Ownership of Five Percent or Less of a Class

Not Applicable

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Not Applicable

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.

Not Applicable

Item 8. Identification and Classification of Members of the Group

Not Applicable

Item 9. Notice of Dissolution of Group

Not Applicable

Item 10. Certification

By signing below, each of D. E. Shaw & Co., L.P.
and David E. Shaw certify that, to the best of such reporting person’s knowledge and belief, the securities referred to above
were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purposes
or effect.

 

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Page 6 of 6 – SEC Filing

SIGNATURE

After reasonable inquiry and to the best of their knowledge
and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. A Power of
Attorney, dated December 16, 2014, granted by David E. Shaw in favor of Nathan Thomas, is attached hereto.

Dated: August 22, 2016

D. E. Shaw & Co., L.P.
By: /s/ Nathan Thomas
Nathan Thomas
Chief Compliance Officer
David E. Shaw
By: /s/ Nathan Thomas
Nathan Thomas
Attorney-in-Fact for David E. Shaw

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