07:49 AM EDT, 10/14/2025 (MT Newswires) -- BioCryst Pharmaceuticals ( BCRX ) and Astria Therapeutics ( ATXS ) said Tuesday that BioCryst has agreed to acquire Astria in a deal valued at $700 million.

The deal will be completed with a mix of cash and stock, with an implied value of $13 per Astria share, the companies said.

BioCryst will acquire all outstanding Astria shares for $8.55 in cash and 0.59 shares of BioCryst common stock, the companies said.

The implied $13 per share merger consideration is 53% higher than Astria's closing share price on Oct. 13, the companies said.

Astria stockholders will own 15% of the combined company's proforma equity based on basic shares outstanding.

As part of the deal, BioCryst has signed a debt commitment letter for a strategic financing facility with funds managed by Blackstone (BLK) with a total capacity of up to $550 million, the companies said.

BioCryst expects the cash portion of the total consideration to be funded with cash on hand as well as a portion of the Blackstone facility.

The deal is slated to be completed in Q1.