BioCryst Pharmaceuticals.

• Position: BIOCRYST BULKS UP

Small-cap biotech stocks with promising drugs must add capital or sell to stronger parties. Durham-based BioCryst Pharmaceuticals is a textbook case, raising $45 million in March in a stock offering, then announcing plans for $80 million more in September. The company is developing a drug to treat angioedema, a rare condition that causes swelling in the face, limbs and throat. Over the last seven-and-a-half years, the company reported a...