Sec Form 4 Filing - Milne Jill C. @ BIOCRYST PHARMACEUTICALS INC - 2026-01-23

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Milne Jill C. 2. Issuer Name and Ticker or Trading Symbol BIOCRYST PHARMACEUTICALS INC [ BCRX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 4505 EMPEROR BLVD, SUITE 200 3. Date of Earliest Transaction (MM/DD/YY) 01/23/2026 (Street) DURHAM, NC27703 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 01/23/2026 A 2,582 A 2,582 D Common Stock 01/23/2026 A 12,272 ( 2 ) A $ 0 14,854 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Automatic Stock Option Grant ( 3 ) $ 6.79 01/23/2026 A 26,684 ( 4 ) 01/23/2036 Common Stock 26,684 $ 0 26,684 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Milne Jill C. 4505 EMPEROR BLVD SUITE 200 DURHAM, NC27703 X Signatures /s/ Alane P. Barnes, by power of attorney 01/27/2026 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Received in exchange for 4,377 shares of Astria Therapeutics, Inc. ("Astria") common stock in connection with a merger (the "Merger"), pursuant to which Astria became a wholly owned subsidiary of BioCryst Pharmaceuticals, Inc. ("BioCryst"). Pursuant to the Merger, each share of Astria common stock (subject to certain inapplicable exceptions) was converted into the right to receive (i) 0.59 of a share of common stock of BioCryst and, if applicable, cash in lieu of fractional shares, and (ii) $8.55 in cash, without interest, subject to applicable withholding taxes. On the last trading day before the effective date of the Merger, the closing price of Astria's common stock was $12.58 per share, and the closing price of BioCryst's common stock was $6.75 per share. ( 2 )Automatic non-employee director grant of restricted stock units pursuant to the BioCryst Non-Employee Director Compensation Policy, as amended (the "Director Compensation Policy"), which will vest in three equal annual installments beginning on the twelve-month anniversary of the date of grant. ( 3 )Automatic non-employee director grant of stock options pursuant to the Director Compensation Policy. ( 4 )The option grant vests 1/36 per month over a 3-year period measured from the date of grant.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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