<SEC-DOCUMENT>0001140361-20-012787.txt : 20200601
<SEC-HEADER>0001140361-20-012787.hdr.sgml : 20200601
<ACCEPTANCE-DATETIME>20200601083045
ACCESSION NUMBER:		0001140361-20-012787
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200601
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200601
DATE AS OF CHANGE:		20200601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOCRYST PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0000882796
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				621413174
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23186
		FILM NUMBER:		20931061

	BUSINESS ADDRESS:	
		STREET 1:		4505 EMPEROR BOULEVARD
		STREET 2:		SUITE 200
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703
		BUSINESS PHONE:		919-859-1302

	MAIL ADDRESS:	
		STREET 1:		4505 EMPEROR BOULEVARD
		STREET 2:		SUITE 200
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>nt10011234x7_8k.htm
<DESCRIPTION>FORM 8K
<TEXT>
<html>
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      <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;" align="center"><font style="font-size: 14pt;">UNITED STATES</font></div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
    <div style="text-align: center; font-weight: bold;">PURSUANT TO SECTION 13 OR 15(d)</div>
    <div style="text-align: center; font-weight: bold;">OF THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Date of Report (Date of earliest event reported): June 1, 2020</div>
    <div style="font-size: 24pt;"><br>
    </div>
    <div style="text-align: center; text-indent: 14.4pt; font-family: 'Times New Roman',Times,serif; font-size: 24pt; font-weight: bold;">BioCryst Pharmaceuticals, Inc.</div>
    <div style="text-align: center; font-style: italic;">(Exact Name of Registrant as Specified in Charter)</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z431e8ff4a4f84d6f840277871acc42fe" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 33.38%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Delaware</div>
          </td>
          <td style="width: 34%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">000-23186</div>
          </td>
          <td style="width: 33.31%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">62-1413174</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.38%; vertical-align: top;">
            <div style="text-align: center; font-style: italic;">(State or Other Jurisdiction</div>
            <div style="text-align: center; font-style: italic;">of Incorporation)</div>
          </td>
          <td style="width: 34%; vertical-align: top;">
            <div style="text-align: center; font-style: italic;">(Commission</div>
            <div style="text-align: center; font-style: italic;">File Number)</div>
          </td>
          <td style="width: 33.31%; vertical-align: top;">
            <div style="text-align: center; font-style: italic;">(IRS Employer</div>
            <div style="text-align: center; font-style: italic;">Identification No.)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">4505 Emperor Blvd., Suite 200</div>
    <div style="text-align: center; font-weight: bold;">Durham, North Carolina 27703</div>
    <div style="text-align: center; font-style: italic;">(Address of Principal Executive Offices)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">(919) 859-1302</div>
    <div style="text-align: center; font-style: italic;">(Registrant&#8217;s telephone number, including area code)</div>
    <div><br>
    </div>
    <div style="text-align: center;">________________________________________</div>
    <div style="text-align: center; font-style: italic;">(Former Name or Former Address, if Changed Since Last Report)</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5cf2885e896a46debcb80a8f9284f695" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 18pt; text-align: right;">&#9744;</td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Wingdings 2', serif;"><br>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5d4cfe02aa654cba8b67b27a8a1354c6" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 18pt; text-align: right;">&#9744;</td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Wingdings 2', serif;"><br>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z13513290fced44ee99bb7d4eea6f2a02" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 18pt; text-align: right;">&#9744;</td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Wingdings 2', serif;"><br>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 210.14d-2(b))</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc2cb3927ca79462386fb9fd19fce3766" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 18pt; text-align: right;">&#9744;</td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Wingdings 2', serif;"><br>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Securities registered pursuant to Section 12(b) of the Act:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd18910633dae475db68b39a29a3f57b0" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 33%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center;">Title of each class</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center;">Trading Symbol(s)</div>
          </td>
          <td style="width: 33%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Common Stock</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">BCRX</div>
          </td>
          <td style="width: 33%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Nasdaq global select market</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</div>
    <div><br>
    </div>
    <div style="text-indent: -36pt; margin-left: 36pt;">Emerging growth company &#9744;</div>
    <div><br>
    </div>
    <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
      Act. <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font>
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    </div>
    <div style="text-align: justify; font-weight: bold;">Item 1.01.&#160; Entry into a Material Definitive Agreement.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The information regarding the Pre-Funded Warrants in Item 8.01 below is incorporated herein by reference.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Item 8.01.&#160; Other Events.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">On May 27, 2020, BioCryst Pharmaceuticals, Inc., (the &#8220;Company&#8221;) entered into an underwriting agreement (the &#8220;Underwriting Agreement&#8221;) with J.P. Morgan Securities LLC and Piper Sandler &amp; Co., as representatives of
      the underwriters named in Schedule 1 thereto (the &#8220;Underwriters&#8221;), with respect to the issuance and sale in an underwritten public offering (the &#8220;Offering&#8221;) by the Company of (a) 18,711,113 shares of the Company&#8217;s common stock at a price to the
      public of $4.50 per share, and (b) pre-funded warrants to purchase 3,511,111 shares of its common stock at a price to the public of $4.49 per pre-funded warrant (the &#8220;Pre-Funded Warrants&#8221;). Pursuant to the Underwriting Agreement, the Company also
      granted the underwriters a 30-day option (the &#8220;Underwriters&#8217; Option&#8221;) to purchase up to an additional 3,333,334 shares of the Company&#8217;s common stock. On May 28, 2020, the Underwriters exercised the Underwriters&#8217; Option in full. Total gross proceeds
      from the Offering to the Company, including from the exercise of the Underwriters&#8217; Option, are expected to be $115 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Pre-Funded Warrants have an exercise price of $0.01 per share, which is subject to adjustment in the event of certain stock dividends and distributions, stock splits, stock combinations, reclassifications or
      similar events affecting the Company's common stock and also upon any distributions of assets to the Company's stockholders. Each Pre-Funded Warrant is exercisable upon issuance.&#160; In the event of certain corporate transactions, the holders of the
      Pre-Funded Warrants will be entitled to receive, upon exercise of the Pre-Funded Warrants, the kind and amount of securities, cash or other property that the holders would have received had they exercised the Pre-Funded Warrants immediately prior to
      such transaction. The Pre-Funded Warrants do not contain voting rights or any of the other rights or privileges as a holder of the Company&#8217;s common stock. The foregoing summary of the Pre-Funded Warrants does not purport to be complete and is subject
      to, and qualified in its entirety by, the form of Pre-Funded Warrant attached as Exhibit 4.1 to this Current Report on Form 8-K, which is incorporated herein by reference.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The shares issuable in the Offering, including pursuant to the Underwriters&#8217; Option, the Pre-Funded Warrants, and the shares of common stock issuable upon exercise of the Pre-Funded Warrants, have been registered under
      the Securities Act of 1933 (the &#8220;Securities Act&#8221;) pursuant to a registration statement on Form S-3 (Registration No. 333-237820) of the Company (the &#8220;Registration Statement&#8221;), and a prospectus supplement dated May 27, 2020, filed with the Securities
      and Exchange Commission pursuant to Rule 424(b) of the Securities Act on May 29, 2020. The closing of the Offering, including the shares issuable pursuant to the exercise of the Underwriters&#8217; Option, is expected to occur on June 1, 2020. The legal
      opinion of Gibson, Dunn &amp; Crutcher LLP relating to the Registration Statement is filed herewith as Exhibit 5.1.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Item 9.01.&#160; Financial Statements and Exhibits.</div>
    <div><br>
    </div>
    <div>(d) Exhibits</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3858e3ec01de4a19b31cbd815a5cfe4a" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 5%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="font-weight: bold;">Exhibit No.</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 93%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="font-weight: bold;">Description</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div><a href="nt10011234x7_ex1-1.htm">1.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 93%; vertical-align: top;">
            <div>Underwriting Agreement, dated May 27, 2020, by and among BioCryst Pharmaceuticals, Inc. and J.P. Morgan Securities LLC and Piper Sandler &amp; Co., as representatives of the underwriters named in Schedule 1 thereto. <br>
            </div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 93%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div><a href="nt10011234x7_ex4-1.htm">4.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 93%; vertical-align: top;">
            <div>Form of Warrant to Purchase Common Stock, dated June 1, 2020.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 93%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div><a href="nt10011234x7_ex5-1.htm">5.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 93%; vertical-align: top;">
            <div>Opinion of Gibson, Dunn &amp; Crutcher LLP.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 93%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div><a href="nt10011234x7_ex5-1.htm">23.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 93%; vertical-align: top;">
            <div>Consent of Gibson, Dunn &amp; Crutcher LLP (included in its opinion filed as Exhibit 5.1).</div>
          </td>
        </tr>

    </table>
    <div><br>
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    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4726d24a186d4d2aa5ca2092459a72a1" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: bottom;">
            <div style="text-align: justify;">Dated: June 1, 2020</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div style="text-align: justify; font-weight: bold;">BioCryst Pharmaceuticals, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">
            <div style="text-align: justify;">By: </div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: justify;">/s/ Alane Barnes</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: bottom;">
            <div>Alane Barnes</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: bottom;">
            <div>Senior Vice President and Chief Legal Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>nt10011234x7_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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    <div style="text-align: right; font-family: 'Times New Roman',Times,serif;"> <font style="font-weight: bold;">Exhibit 1.1</font><br>
    </div>
    <div style="text-align: center;">BIOCRYST PHARMACEUTICALS, INC.</div>
    <div><br>
    </div>
    <div style="text-align: center;">18,711,113 Shares of Common Stock</div>
    <div style="text-align: center;">(par value $0.01 per share)</div>
    <div><br>
    </div>
    <div style="text-align: center;">Pre-Funded Warrants to Purchase 3,511,111 Shares of Common Stock</div>
    <div><br>
    </div>
    <div style="text-align: center;">Underwriting Agreement</div>
    <div><br>
    </div>
    <div style="text-align: right;">May 27, 2020</div>
    <div><br>
    </div>
    <div>J.P. Morgan Securities LLC</div>
    <div>Piper Sandler &amp; Co.</div>
    <div>As Representatives of the</div>
    <div style="text-indent: 36pt;">several Underwriters listed</div>
    <div style="text-indent: 36pt;">in Schedule 1 hereto</div>
    <div><br>
    </div>
    <div>c/o J.P. Morgan Securities LLC</div>
    <div>383 Madison Avenue</div>
    <div>New York, New York 10179</div>
    <div><br>
    </div>
    <div>c/o Piper Sandler &amp; Co.</div>
    <div>800 Nicollet Mall, Suite 800</div>
    <div>Minneapolis, Minnesota 55402</div>
    <div><br>
    </div>
    <div>Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">BioCryst Pharmaceuticals, Inc., a Delaware corporation (the &#8220;Company&#8221;), proposes to issue and sell to the several underwriters listed in Schedule 1 hereto (the &#8220;Underwriters&#8221;), for whom you are acting as representatives
      (the &#8220;Representatives&#8221;), an aggregate of 18,711,113 shares (the &#8220;Underwritten Shares&#8221;) of common stock, par value $0.01 per share, of the Company (&#8220;Common Stock&#8221;), pre-funded warrants to purchase an aggregate of 3,511,111 shares of Common Stock in
      the form attached hereto as Exhibit A (the &#8220;Warrants&#8221;) and, at the option of the Underwriters, up to an additional 3,333,334 shares of Common Stock (the &#8220;Option Shares&#8221;).&#160; The Underwritten Shares and the Warrants are herein referred to as the
      &#8220;Underwritten Securities.&#8221;&#160; The Underwritten Shares and the Option Shares are herein referred to as the &#8220;Shares.&#8221;&#160; The Shares and Warrants are herein referred to as the &#8220;Securities.&#8221;&#160; The shares of Common Stock issuable upon exercise of the Warrants
      are herein referred to as the &#8220;Warrant Shares.&#8221;&#160; The shares of Common Stock to be outstanding after giving effect to the sale of the Shares and the exercise of the Warrants are referred to herein as the &#8220;Stock.&#8221;</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The Company hereby confirms its agreement with the several Underwriters concerning the purchase and sale of the Securities, as follows:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Registration Statement</u>.&#160; The Company has prepared and filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933, as amended, and the rules and regulations of
      the Commission thereunder (collectively, the &#8220;Securities Act&#8221;), a registration statement (File No. 333-237820), including a prospectus, relating to the Securities and the Warrant Shares.&#160; Such registration statement, as amended at the time it became
      effective, including the information, if any, deemed pursuant to Rule 430A, 430B or 430C under the Securities Act to be part of the registration statement at the time of its effectiveness (&#8220;Rule 430 Information&#8221;), is referred to herein as the
      &#8220;Registration Statement;&#8221; and as used herein, the term &#8220;Preliminary Prospectus&#8221; means each prospectus included in such registration statement (and any amendments thereto) before effectiveness, any prospectus filed with the Commission pursuant to Rule
      424(a) under the Securities Act and the prospectus included in the Registration Statement at the time of its effectiveness that omits Rule 430 Information, and the term &#8220;Prospectus&#8221; means the prospectus in the form first used (or made available upon
      request of purchasers pursuant to Rule 173 under the Securities Act) in connection with confirmation of sales of the Securities.&#160; If the Company has filed an abbreviated registration statement pursuant to Rule 462(b) under the Securities Act (the
      &#8220;Rule 462 Registration Statement&#8221;), then any reference herein to the term &#8220;Registration Statement&#8221; shall be deemed to include such Rule 462 Registration Statement.&#160; Any reference in this underwriting agreement (this &#8220;Agreement&#8221;) to the Registration
      Statement, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item 12 of Form S-3 under the Securities Act, as of the effective date of the Registration
      Statement or the date of such Preliminary Prospectus or the Prospectus, as the case may be, and any reference to &#8220;amend,&#8221; &#8220;amendment&#8221; or &#8220;supplement&#8221; with respect to the Registration Statement, any Preliminary Prospectus or the Prospectus shall be
      deemed to refer to and include any documents filed after such date under the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder (collectively, the &#8220;Exchange Act&#8221;) that are deemed to be incorporated
      by reference therein.&#160; Capitalized terms used but not defined herein shall have the meanings given to such terms in the Registration Statement and the Prospectus.</div>
    <div style="text-indent: 36pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">1</font></div>
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    </div>
    <div style="text-indent: 36pt;">At or prior to the Applicable Time (as defined below), the Company had prepared the following information (collectively with the pricing information set forth on Annex A, the &#8220;Pricing Disclosure Package&#8221;): a Preliminary
      Prospectus dated May 27, 2020 and each &#8220;free-writing prospectus&#8221; (as defined pursuant to Rule 405 under the Securities Act) listed on Annex A hereto.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">&#8220;Applicable Time&#8221; means 7:00 P.M., New York City time, on May 27, 2020.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Purchase of the Securities</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company agrees to issue and sell the Underwritten Securities to the several Underwriters as provided in this Agreement, and each Underwriter, on the basis of the representations, warranties and
      agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase at a price of $4.23 per share of Common Stock (the &#8220;Share Purchase Price&#8221;) from the Company the respective number of
      Underwritten Shares set forth opposite such Underwriter&#8217;s name in Schedule 1 hereto, and to purchase from the Company the respective number of Warrants set forth opposite such Underwriter&#8217;s name in Schedule 1 hereto at a price of $4.22 per Warrant.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">In addition, the Company agrees to issue and sell the Option Shares to the several Underwriters as provided in this Agreement, and the Underwriters, on the basis of the representations, warranties and agreements set
      forth herein and subject to the conditions set forth herein, shall have the option to purchase, severally and not jointly, from the Company the Option Shares at the Share Purchase Price less an amount per share equal to any dividends or distributions
      declared by the Company and payable on the Underwritten Shares but not payable on the Option Shares.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">If any Option Shares are to be purchased, the number of Option Shares to be purchased by each Underwriter shall be the number of Option Shares which bears the same ratio to the aggregate number of Option Shares being
      purchased as the number of Underwritten Shares set forth opposite the name of such Underwriter in Schedule 1 hereto (or such number increased as set forth in Section 10 hereof) bears to the aggregate number of Underwritten Shares being purchased from
      the Company by the several Underwriters, subject, however, to such adjustments to eliminate any fractional Shares as the Representatives in their sole discretion shall make.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The Underwriters may exercise the option to purchase Option Shares at any time in whole, or from time to time in part, on or before the thirtieth day following the date of the Prospectus, by written notice from the
      Representatives to the Company.&#160; Such notice shall set forth the aggregate number of Option Shares as to which the option is being exercised and the date and time when the Option Shares are to be delivered and paid for, which may be the same date and
      time as the Closing Date (as hereinafter defined) but shall not be earlier than the Closing Date nor later than the tenth full business day (as hereinafter defined) after the date of such notice (unless such time and date are postponed in accordance
      with the provisions of Section 10 hereof).&#160; Any such notice shall be given at least two business days prior to the date and time of delivery specified therein.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company understands that the Underwriters intend to make a public offering of the Securities as soon after the effectiveness of this Agreement as in the judgment of the Representatives is advisable, and
      initially to offer the Securities on the terms set forth in the Pricing Disclosure Package.&#160; The Company acknowledges and agrees that the Underwriters may offer and sell Securities to or through any affiliate of an Underwriter.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Payment for the Securities shall be made by wire transfer in immediately available funds to the account specified by the Company to the Representatives in the case of the Underwritten Securities, at the
      offices of Latham &amp; Watkins LLP, counsel for the Underwriters, at 12670 High Bluff Drive, San Diego, CA 92130 at 10:00 A.M., New York City time, on June 1, 2020, or at such other time or place on the same or such other date, not later than the
      fifth business day thereafter, as the Representatives and the Company may agree upon in writing or, in the case of the Option Shares, on the date and at the time and place specified by the Representatives in the written notice of the Underwriters&#8217;
      election to purchase such Option Shares.&#160; The time and date of such payment for the Underwritten Securities is referred to herein as the &#8220;Closing Date,&#8221; and the time and date for such payment for the Option Shares, if other than the Closing Date, is
      herein referred to as the &#8220;Additional Closing Date.&#8221;</div>
    <div style="text-indent: 36pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt;">Payment for the Securities to be purchased on the Closing Date or the Additional Closing Date, as the case may be, shall be made against delivery to the Representatives for the respective accounts of the several
      Underwriters of the Securities to be purchased on the Closing Date or the Additional Closing Date, as the case may be, with any transfer taxes payable in connection with the sale of such Securities duly paid by the Company.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Delivery of the Shares shall be made through the facilities of The Depository Trust Company (&#8220;DTC&#8221;) unless the Representatives shall otherwise instruct.&#160; The Warrants shall be delivered to the Representatives in
      definitive form, registered in such names and in such denominations as the Representatives shall request in writing not later than the Closing Date.&#160; The Warrants will be made available for inspection by the Representatives on the business day prior
      to the Closing Date.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Notwithstanding the foregoing, the Company and the Representatives shall instruct purchasers of the Warrants in the public offering to make payment for the Warrants on the Closing Date to the Company by wire transfer in
      immediately available funds to the account specified by the Company at a purchase price of $4.49 per Warrant, in lieu of payment by the Underwriters for such Warrants, and the Company shall deliver such Warrants to such purchasers on the Closing Date
      in definitive form against such payment, in lieu of the Company&#8217;s obligation to deliver such Warrants to the Underwriters; provided that the Company shall promptly (but in no event later than the Closing Date) pay $0.27 per such Warrant to the
      Underwriters by wire transfer in immediately available funds to the account specified by the Representatives.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">In the event that the purchasers of the Warrants in the public offering fail to make payment to the Company for all or part of the Warrants on the Closing Date, the Representatives may elect, by written notice to the
      Company, to purchase at the Share Purchase Price shares of Common Stock in lieu of all or a portion of such Warrants.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company acknowledges and agrees that the Representatives and the other Underwriters are acting solely in the capacity of an arm&#8217;s length contractual counterparty to the Company with respect to the
      offering of Securities contemplated hereby (including in connection with determining the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any other person.&#160; Additionally, neither the
      Representatives nor any other Underwriter is advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction.&#160; The Company shall consult with its own advisors concerning such matters and
      shall be responsible for making its own independent investigation and appraisal of the transactions contemplated hereby, and neither the Representatives nor the other Underwriters shall have any responsibility or liability to the Company with respect
      thereto.&#160; Any review by the Representatives and the other Underwriters of the Company, the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Underwriters and shall not be
      on behalf of the Company.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Representations and Warranties of the Company</u>.&#160; The Company represents and warrants to each Underwriter that:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Preliminary Prospectus.</font>&#160; No order preventing or suspending the use of any Preliminary Prospectus has been issued by the Commission, and each
      Preliminary Prospectus included in the Pricing Disclosure Package, at the time of filing thereof, complied in all material respects with the Securities Act, and no Preliminary Prospectus, at the time of filing thereof, contained any untrue statement
      of a material fact or omitted to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; <u>provided</u> that the Company makes no representation or
      warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in any
      Preliminary Prospectus, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such in Section 7(b) hereof.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Pricing Disclosure Package</font>.&#160; The Pricing Disclosure Package as of the Applicable Time did not, and as of the Closing Date and as of the Additional
      Closing Date, as the case may be, will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
      misleading; <u>provided</u> that the Company makes no representation or warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by
      such Underwriter through the Representatives expressly for use in such Pricing Disclosure Package, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such in Section
      7(b) hereof.&#160; No statement of material fact included in the Prospectus has been omitted from the Pricing Disclosure Package and no statement of material fact included in the Pricing Disclosure Package that is required to be included in the Prospectus
      has been omitted therefrom.</div>
    <div style="text-indent: 36pt; margin-left: 36pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Issuer Free Writing Prospectus.&#160; </font>Other than the Registration Statement, the Preliminary Prospectus and the Prospectus, the Company (including its
      agents and representatives, other than the Underwriters in their capacity as such) has not prepared, made, used, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any &#8220;written communication&#8221; (as
      defined in Rule 405 under the Securities Act) that constitutes an offer to sell or solicitation of an offer to buy the Securities (each such communication by the Company or its agents and representatives (other than a communication referred to in
      clause (i) below) an &#8220;Issuer Free Writing Prospectus&#8221;) other than (i) any document not constituting a prospectus pursuant to Section 2(a)(10)(a) of the Securities Act or Rule 134 under the Securities Act or (ii) the documents listed on Annex A
      hereto, each electronic road show and any other written communications approved in writing in advance by the Representatives.&#160; Each such Issuer Free Writing Prospectus complies in all material respects with the Securities Act, has been or will be
      (within the time period specified in Rule 433) filed in accordance with the Securities Act (to the extent required thereby) and does not conflict with the information contained in the Registration Statement or the Pricing Disclosure Package, and,
      when taken together with the Preliminary Prospectus filed prior to the first use of such Issuer Free Writing Prospectus, did not, and as of the Closing Date and as of the Additional Closing Date, as the case may be, will not, contain any untrue
      statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; <u>provided</u> that the Company makes no representation
      or warranty with respect to any statements or omissions made in each such Issuer Free Writing Prospectus or Preliminary Prospectus in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by
      such Underwriter through the Representatives expressly for use in such Issuer Free Writing Prospectus or Preliminary Prospectus, it being understood and agreed that the only such information furnished by any Underwriter consists of the information
      described as such in Section 7(b) hereof.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Registration Statement and Prospectus.</font>&#160; The Registration Statement has been declared effective by the Commission.&#160; No order suspending the
      effectiveness of the Registration Statement has been issued by the Commission, and no proceeding for that purpose or pursuant to Section 8A of the Securities Act against the Company or related to the offering of the Securities has been initiated or
      threatened by the Commission; as of the applicable effective date of the Registration Statement and any post-effective amendment thereto, the Registration Statement and any such post-effective amendment complied and will comply in all material
      respects with the Securities Act, and did not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and as of
      the date of the Prospectus and any amendment or supplement thereto and as of the Closing Date and as of the Additional Closing Date, as the case may be, the Prospectus will comply in all material respects with the Securities Act, and will not contain
      any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; <u>provided</u> that the Company makes no
      representation or warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly
      for use in the Registration Statement and the Prospectus and any amendment or supplement thereto, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such in Section 7(b)
      hereof.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Incorporated Documents.</font>&#160; The documents incorporated by reference in the Registration Statement, the Prospectus and the Pricing Disclosure Package,
      when they were filed with the Commission, conformed in all material respects to the requirements of the Exchange Act, and none of such documents contained any untrue statement of a material fact or omitted to state a material fact necessary to make
      the statements therein, in the light of the circumstances under which they were made, not misleading; and any further documents so filed and incorporated by reference in the Registration Statement, the Prospectus or the Pricing Disclosure Package,
      when such documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange Act and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
      statements therein, in the light of the circumstances under which they were made, not misleading.</div>
    <div style="text-indent: 36pt; margin-left: 36pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Financial Statements.</font>&#160; The financial statements (including the related notes thereto) of the Company and its consolidated subsidiaries included or
      incorporated by reference in the Registration Statement, the Pricing Disclosure Package and the Prospectus comply in all material respects with the applicable requirements of the Securities Act and the Exchange Act, as applicable, and present fairly
      the financial position of the Company and its consolidated subsidiaries as of the dates indicated and the results of their operations and the changes in their cash flows for the periods specified; such financial statements have been prepared in
      conformity with generally accepted accounting principles (&#8220;GAAP&#8221;) in the United States applied on a consistent basis throughout the periods covered thereby, and any supporting schedules included or incorporated by reference in the Registration
      Statement present fairly the information required to be stated therein; and the other financial information included or incorporated by reference in the Registration Statement, the Pricing Disclosure Package and the Prospectus has been derived from
      the accounting records of the Company and its consolidated subsidiaries and presents fairly the information shown thereby.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Material Adverse Change.</font>&#160; Since the date of the most recent financial statements of the Company included or incorporated by reference in the
      Registration Statement, the Pricing Disclosure Package and the Prospectus, (i) there has not been any change in the capital stock (other than the issuance of shares of Common Stock upon the exercise of stock options and vesting of restricted stock
      units described as outstanding in, and the grant of options and awards under existing equity incentive plans described in, the Registration Statement, the Pricing Disclosure Package and the Prospectus), short-term debt or long-term debt of the
      Company or any of its subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class of capital stock, or any material adverse change, or any development that could reasonably be
      expected to result in a material adverse change, in or affecting the business, properties, management, financial position, stockholders&#8217; equity, results of operations or prospects of the Company and its subsidiaries taken as a whole; (ii) neither the
      Company nor any of its subsidiaries has entered into any transaction or agreement (whether or not in the ordinary course of business) that is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation,
      direct or contingent, that is material to the Company and its subsidiaries taken as a whole; and (iii) neither the Company nor any of its subsidiaries has sustained any loss or interference with its business that is material to the Company and its
      subsidiaries taken as a whole and that is either from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or
      regulatory authority, except in the case of each of clauses (i), (ii), and (iii) above as otherwise disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Organization and Good Standing.</font>&#160; The Company and each of its subsidiaries have been duly organized and are validly existing and in good standing
      under the laws of their respective jurisdictions of organization, are duly qualified to do business and are in good standing in each jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses
      requires such qualification, and have all power and authority necessary to own or hold their respective properties and to conduct the businesses in which they are engaged, except where the failure to be so qualified or in good standing or have such
      power or authority would not, individually or in the aggregate, have a material adverse effect on the business, properties, management, financial position, stockholders&#8217; equity, results of operations or prospects of the Company and its subsidiaries
      taken as a whole or on the performance by the Company of its obligations under this Agreement (a &#8220;Material Adverse Effect&#8221;).&#160; The only subsidiaries of the Company are the subsidiaries listed on Schedule 2 hereto and Schedule 2 accurately sets forth
      whether each such subsidiary is a corporation or limited liability company and the jurisdiction of organization of each such subsidiary and, in the case of any subsidiary which is a limited liability company, its managing members.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Capitalization.</font>&#160; The Company has an authorized capitalization as set forth in the Registration Statement, the Pricing Disclosure Package and the
      Prospectus under the heading &#8220;Description of Common Stock, Preferred Stock and Depositary Shares;&#8221; all the outstanding shares of capital stock of the Company have been duly and validly authorized and issued and are fully paid and non-assessable and
      are not subject to any pre-emptive or similar rights; except as described in or expressly contemplated by the Registration Statement, the Pricing Disclosure Package and the Prospectus, there are no outstanding rights (including, without limitation,
      pre-emptive rights), warrants or options to acquire, or instruments convertible into or exchangeable for, any shares of capital stock or other equity interest in the Company or any of its subsidiaries, or any contract, commitment, agreement,
      understanding or arrangement of any kind relating to the issuance of any capital stock of the Company or any such subsidiary, any such convertible or exchangeable securities or any such rights, warrants or options; the capital stock of the Company
      conforms in all material respects to the description thereof contained in the Registration Statement, the Pricing Disclosure Package and the Prospectus; and all the outstanding shares of capital stock or other equity interests of each subsidiary
      owned, directly or indirectly, by the Company have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of any lien, charge, encumbrance, security interest,
      restriction on voting or transfer or any other claim of any third party, except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.</div>
    <div style="text-indent: 36pt; margin-left: 36pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Stock Options.&#160; </font>With respect to the stock options (the &#8220;Stock Options&#8221;) granted pursuant to the stock-based compensation plans of the Company and
      its subsidiaries (the &#8220;Company Stock Plans&#8221;), (i) each Stock Option intended to qualify as an &#8220;incentive stock option&#8221; under Section 422 of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;) so qualifies, (ii) each grant of a Stock Option was
      duly authorized no later than the date on which the grant of such Stock Option was by its terms to be effective by all necessary corporate action, including, as applicable, approval by the board of directors of the Company (or a duly constituted and
      authorized committee thereof) and any required stockholder approval by the necessary number of votes or written consents, and the award agreement governing such grant (if any) was duly executed and delivered by each party thereto, (iii) each such
      grant was made in accordance with the terms of the Company Stock Plans, the Exchange Act and all other applicable laws and regulatory rules or requirements, including the rules of the Nasdaq Global Select Market and any other exchange on which
      Company securities are traded, and (iv) each such grant was properly accounted for in accordance with GAAP in the financial statements (including the related notes) of the Company and disclosed in the Company&#8217;s filings with the Commission in
      accordance with the Exchange Act and all other applicable laws. The Company has not knowingly granted, and there is no and has been no policy or practice of the Company of granting, Stock Options prior to, or otherwise coordinating the grant of Stock
      Options with, the release or other public announcement of material information regarding the Company or its subsidiaries or their results of operations or prospects.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Due Authorization.</font>&#160; The Company has full right, power and authority to execute and deliver this Agreement and to perform its obligations hereunder;
      and all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement and the consummation by it of the transactions contemplated hereby has been duly and validly taken.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Underwriting Agreement. </font> This Agreement has been duly authorized, executed and delivered by the Company.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">The Shares and the Warrants.&#160; </font>(i)<font style="font-style: italic;">&#160;</font>The Shares to be issued and sold by the Company hereunder have been
      duly authorized and, when issued and delivered and paid for as provided herein, will be duly and validly issued, will be fully paid and nonassessable and will conform to the descriptions thereof in the Registration Statement, the Pricing Disclosure
      Package and the Prospectus; (ii) the Warrants have been duly authorized by the Company and, when executed and delivered by the Company in accordance with this Agreement, will constitute valid and legally binding agreements of the Company enforceable
      against the Company in accordance with their terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting creditors&#8217; rights generally or by equitable principles relating to enforceability; (iii) the
      Warrant Shares to be issued by the Company upon exercise of the Warrants, as provided therein, have been duly and validly authorized and, when issued and delivered upon exercise as provided under the Warrant, will be duly and validly issued, fully
      paid and non-assessable and will conform in all material respects to the descriptions thereof in the Registration Statement, the Pricing Disclosure Package and the Prospectus; and (iv) the issuance of the Securities and the Warrant Shares is not
      subject to any preemptive or similar rights.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Descriptions of the Underwriting Agreement.</font>&#160; This Agreement conforms in all material respects to the description thereof contained in the
      Registration Statement, the Pricing Disclosure Package and the Prospectus.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Violation or Default.</font>&#160; Neither the Company nor any of its subsidiaries is (i) in violation of its charter or bylaws or similar organizational
      documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of
      trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its
      subsidiaries is subject; or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii) and (iii) above, for any such
      default or violation that would not, individually or in the aggregate, have a Material Adverse Effect.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Conflicts.&#160; </font>The execution, delivery and performance by the Company of this Agreement and the Warrants, the issuance and sale of the Securities
      and the Warrant Shares and the consummation of the transactions contemplated by this Agreement and the Warrants or the Pricing Disclosure Package and the Prospectus will not (i) conflict with or result in a breach or violation of any of the terms or
      provisions of, or constitute a default under, result in the termination, modification or acceleration of, or result in the creation or imposition of any lien, charge or encumbrance upon any property, right or asset of the Company or any of its
      subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any
      property, right or asset of the Company or any of its subsidiaries is subject, (ii) result in any violation of the provisions of the charter or bylaws or similar organizational documents of the Company or any of its subsidiaries or (iii) result in
      the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default,
      lien, charge or encumbrance that would not, individually or in the aggregate, have a Material Adverse Effect.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
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    <div style="text-indent: 36pt; margin-left: 36pt;">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Consents Required.</font>&#160; No consent, approval, authorization, order, license, registration or qualification of or with any court or arbitrator or
      governmental or regulatory authority is required for the execution, delivery and performance by the Company of this Agreement, the issuance and sale of the Securities and the consummation of the transactions contemplated by this Agreement, except for
      the registration of the Securities under the Securities Act and such consents, approvals, authorizations, orders and registrations or qualifications as may be required by the Financial Industry Regulatory Authority, Inc. (&#8220;FINRA&#8221;) and under
      applicable state securities laws in connection with the purchase and distribution of the Securities by the Underwriters.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(r)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Legal Proceedings.</font>&#160; Except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, there are no legal,
      governmental or regulatory investigations, actions, demands, claims, suits, arbitrations, inquiries or proceedings (&#8220;Actions&#8221;) pending to which the Company or any of its subsidiaries is or may be a party or to which any property of the Company or any
      of its subsidiaries is or may be the subject that, individually or in the aggregate, if determined adversely to the Company or any of its subsidiaries, could reasonably be expected to have a Material Adverse Effect; no such Actions are, to the
      knowledge of the Company, threatened or contemplated by any governmental or regulatory authority or threatened by others; and (i) there are no current or pending Actions that are required under the Securities Act to be described in the Registration
      Statement, the Pricing Disclosure Package or the Prospectus that are not so described in the Registration Statement, the Pricing Disclosure Package and the Prospectus and (ii) there are no statutes, regulations or contracts or other documents that
      are required under the Securities Act to be filed as exhibits to the Registration Statement or described in the Registration Statement, the Pricing Disclosure Package or the Prospectus that are not so filed as exhibits to the Registration Statement
      or described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(s)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Independent Accountants</font>.&#160; Ernst &amp; Young LLP, who have certified certain financial statements of the Company and its subsidiaries, is an
      independent registered public accounting firm with respect to the Company and its subsidiaries within the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by
      the Securities Act.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(t)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Title to Real and Personal Property</font>.&#160; The Company and its subsidiaries have good and marketable title in fee simple (in the case of real property)
      to, or have valid and marketable rights to lease or otherwise use, all items of real and personal property and assets that are material to the respective businesses of the Company and its subsidiaries, in each case, except as described in the
      Registration Statement, the Pricing Disclosure Package or the Prospectus, free and clear of all liens, encumbrances, claims and defects and imperfections of title except those that (i) do not materially interfere with the use made and proposed to be
      made of such property by the Company and its subsidiaries or (ii) could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(u)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Title to Intellectual Property</font>.&#160; The Company and its subsidiaries own, possess, have valid and enforceable licenses to use, or otherwise have the
      rights to use on reasonable terms all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, domain names, software, copyrights, licenses, inventions, and know-how (including trade
      secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures) and other intellectual property, including registrations and applications for registration thereof (collectively, &#8220;Intellectual
      Property&#8221;) that is described in the Registration Statement, the Pricing Disclosure Package or the Prospectus, or that is necessary for the conduct of their respective businesses as currently conducted and as proposed to be conducted, and neither the
      Company or any of its subsidiaries has received any notice or is otherwise aware of any infringement of or conflict with the rights of others with respect to any Intellectual Property or the conduct of their respective businesses, or of any facts or
      circumstances that would render any Intellectual Property invalid or inadequate to protect the interests of the Company or any of its subsidiaries therein which might reasonably be expected to have a Material Adverse Effect.&#160; Without limitation to
      the foregoing, (i) except as described in the Registration Statement, the Pricing Disclosure Package or the Prospectus, there are no third parties who have or, to the Company&#8217;s knowledge, will be able to establish rights to any Intellectual Property
      of the Company or any of its subsidiaries, except for, and to the extent of, the ownership rights of the owners of the Intellectual Property which the Registration Statement, the Pricing Disclosure Package and the Prospectus disclose is licensed to
      the Company or any of its subsidiaries; (ii) none of the Intellectual Property owned by the Company and, to the Company&#8217;s knowledge, licensed to the Company, has been adjudged invalid or unenforceable in whole or in part, and there is no pending or,
      to the Company&#8217;s knowledge, threatened action, suit, proceeding or claim by others challenging the Company&#8217;s or any subsidiary&#8217;s rights in or to any such Intellectual Property, or challenging the validity, enforceability or scope of any such
      Intellectual Property, or asserting that the Company or any subsidiary infringes or otherwise misappropriates or violates, or would, upon the commercialization of any product or service described in the Registration Statement, the Pricing Disclosure
      Package or the Prospectus, infringe or otherwise misappropriate or violate, any Intellectual Property of others, and the Company is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding or claim; (iii) the
      Company and its subsidiaries have complied with the terms of each agreement pursuant to which any Intellectual Property has been licensed to the Company or any subsidiary, and all such agreements are in full force and effect; (iv) there is no patent
      or patent application that contains claims that dominate, may dominate or interfere with the issued or pending claims of any patent or patent application included in such Intellectual Property of the Company or any of its subsidiaries or that
      challenges the validity, enforceability or scope of any such patent or patent application, and there is no prior art of which the Company is aware that may render any U.S. patent held by the Company invalid or any U.S. patent application held by the
      Company unpatentable which has not been disclosed to the U.S. Patent and Trademark Office; (v) to the Company&#8217;s knowledge, there is no material infringement, misappropriation or other violation by third parties of any such Intellectual Property; (vi)
      none of the Intellectual Property used by the Company in its business has been obtained or is being used by the Company in violation of any contractual obligation binding on the Company or in violation of the rights of any third parties; (vii) the
      Company is not aware of any facts that it believes would form a reasonable basis for a successful challenge that any of its employees are in or have ever been in violation of any term of any employment contract, patent disclosure agreement, invention
      assignment agreement, non-competition agreement, non-solicitation agreement, nondisclosure agreement or any restrictive covenant to or with a former employer where such violation relates to such employee&#8217;s breach of a confidentiality obligation,
      obligation to assign to the company Intellectual Property, or obligation not to use third party Intellectual Property or other proprietary rights on behalf of the Company; and (viii) the Company is not a party to or bound by any options, licenses or
      other agreements with respect to the Company&#8217;s or any third party&#8217;s Intellectual Property that are required to be set forth in the Registration Statement, the Pricing Disclosure Package or the Prospectus, but are not described in all material
      respects in the Registration Statement, the Pricing Disclosure Package and the Prospectus, as applicable.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Undisclosed Relationships</font>.&#160; No relationship, direct or indirect, exists between or among the Company or any of its subsidiaries, on the one
      hand, and the directors, officers, stockholders, customers, suppliers or other affiliates of the Company or any of its subsidiaries, on the other, that is required by the Securities Act to be described in the Registration Statement and the Prospectus
      and that is not so described in such documents and in the Pricing Disclosure Package.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(w)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Investment Company Act</font>.&#160; The Company is not, and, after giving effect to the offering and sale of the Securities and the application of the
      proceeds thereof as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, will not be an &#8220;investment company&#8221; or an entity &#8220;controlled&#8221; by an &#8220;investment company&#8221; within the meaning of the Investment Company Act
      of 1940, as amended, and the rules and regulations of the Commission thereunder.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Taxes.</font>&#160; The Company and its subsidiaries have paid all federal, state, local and foreign taxes required to be paid through the date hereof, except
      for such taxes the nonpayment of which would not, individually or in the aggregate, result in a Material Adverse Effect, and have filed all tax returns required to be filed through the date hereof or have obtained extensions thereof, except where the
      failure so to file would not, individually or in the aggregate, result in a Material Adverse Effect; and except as otherwise disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, there is no tax deficiency that
      has been, or could reasonably be expected to be, asserted against the Company or any of its subsidiaries or any of their respective properties or assets.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(y)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Licenses and Permits.</font>&#160; The Company and its subsidiaries possess all licenses, sub-licenses, certificates, permits and other authorizations issued
      by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory authorities that are necessary for the ownership or lease of their respective properties or the conduct of their
      respective businesses as described in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus, except where the failure to possess or make the same would not, individually or in the aggregate, have a Material Adverse
      Effect; and except as described in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus, neither the Company nor any of its subsidiaries has received notice of any revocation or modification of any such license,
      sub-license, certificate, permit or authorization or has any reason to believe that any such license, sub-license, certificate, permit or authorization will not be renewed in the ordinary course.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(z)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Labor Disputes.</font>&#160; No labor disturbance by or dispute with employees of the Company or any of its subsidiaries exists or, to the knowledge of the
      Company, is contemplated or threatened, and the Company is not aware of any existing or imminent labor disturbance by, or dispute with, the employees of any of its or its subsidiaries&#8217; principal suppliers, contractors or customers, except as would
      not have a Material Adverse Effect.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(aa)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Certain Environmental Matters</font>.&#160; (i) The Company and its subsidiaries (x) are in compliance with all, and have not violated any, applicable
      federal, state, local and foreign laws (including common law), rules, regulations, requirements, decisions, judgments, decrees, orders and other legally enforceable requirements relating to pollution or the protection of human health or safety, the
      environment, natural resources, hazardous or toxic substances or wastes, pollutants or contaminants (collectively, &#8220;Environmental Laws&#8221;); (y) have received and are in compliance with all, and have not violated any, permits, licenses, certificates or
      other authorizations or approvals required of them under any Environmental Laws to conduct their respective businesses; and (z) have not received notice of any actual or potential liability or obligation under or relating to, or any actual or
      potential violation of, any Environmental Laws, including for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, and have no knowledge of any event or condition that
      would reasonably be expected to result in any such notice; (ii) there are no costs or liabilities associated with Environmental Laws of or relating to the Company or its subsidiaries, except in the case of each of (i) and (ii) above, for any such
      matter as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (iii) except as described in each of the Pricing Disclosure Package and the Prospectus, (x) there is no proceeding that is pending,
      or that is known to be contemplated, against the Company or any of its subsidiaries under any Environmental Laws in which a governmental entity is also a party, other than such proceeding regarding which it is reasonably believed no monetary
      sanctions of $100,000 or more will be imposed, (y) the Company and its subsidiaries are not aware of any facts or issues regarding compliance with Environmental Laws, or liabilities or other obligations under Environmental Laws or concerning
      hazardous or toxic substances or wastes, pollutants or contaminants, that could reasonably be expected to have a material effect on the capital expenditures, earnings or competitive position of the Company and its subsidiaries, and (z) none of the
      Company or its subsidiaries anticipates material capital expenditures relating to any Environmental Laws.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(bb)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Hazardous Materials</font>.&#160; There has been no storage, generation, transportation, use, handling, treatment, Release or threat of Release of Hazardous
      Materials by, relating to or caused by the Company or any of its subsidiaries (or, to the knowledge of the Company and its subsidiaries, any other entity (including any predecessor) for whose acts or omissions the Company or any of its subsidiaries
      is or could reasonably be expected to be liable) at, on, under or from any property or facility now or previously owned, operated or leased by the Company or any of its subsidiaries, or at, on, under or from any other property or facility, in
      violation of any Environmental Laws or in a manner or amount or to a location that could reasonably be expected to result in any liability under any Environmental Law, except for any violation or liability which would not, individually or in the
      aggregate, reasonably be expected to have a Material Adverse Effect.&#160; &#8220;Hazardous Materials&#8221; means any material, chemical, substance, waste, pollutant, contaminant, compound, mixture, or constituent thereof, in any form or amount, including petroleum
      (including crude oil or any fraction thereof) and petroleum products, natural gas liquids, asbestos and asbestos containing materials, naturally occurring radioactive materials, brine, and drilling mud, regulated or which can give rise to liability
      under any Environmental Law.&#160; &#8220;Release&#8221; means any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, disposing, depositing, dispersing, or migrating in, into or through the
      environment, or in, into, from or through any building or structure.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(cc)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Compliance with ERISA</font>.&#160; (i) Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974,
      as amended (&#8220;ERISA&#8221;), for which the Company or any member of its &#8220;Controlled Group&#8221; (defined as any entity, whether or not incorporated, that is under common control with the Company within the meaning of Section 4001(a)(14) of ERISA or any entity
      that would be regarded as a single employer with the Company under Section 414(b),(c),(m) or (o) of the Code) would have any liability (each, a &#8220;Plan&#8221;) has been maintained in compliance with its terms and the requirements of any applicable statutes,
      orders, rules and regulations, including but not limited to ERISA and the Code; (ii) no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred with respect to any Plan, excluding transactions
      effected pursuant to a statutory or administrative exemption; (iii) for each Plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no Plan has failed (whether or not waived), or is reasonably expected to fail,
      to satisfy the minimum funding standards (within the meaning of Section 302 of ERISA or Section 412 of the Code) applicable to such Plan; (iv) no Plan is, or is reasonably expected to be, in &#8220;at risk status&#8221; (within the meaning of Section 303(i) of
      ERISA) and no Plan that is a &#8220;multiemployer plan&#8221; within the meaning of Section 4001(a)(3) of ERISA is in &#8220;endangered status&#8221; or &#8220;critical status&#8221; (within the meaning of Sections 304 and 305 of ERISA); (v) the fair market value of the assets of each
      Plan exceeds the present value of all benefits accrued under such Plan (determined based on those assumptions used to fund such Plan); (vi) no &#8220;reportable event&#8221; (within the meaning of Section 4043(c) of ERISA and the regulations promulgated
      thereunder) has occurred or is reasonably expected to occur; (vii) each Plan that is intended to be qualified under Section 401(a) of the Code is so qualified, and nothing has occurred, whether by action or by failure to act, which would cause the
      loss of such qualification; (viii) neither the Company nor any member of the Controlled Group has incurred, nor reasonably expects to incur, any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the Pension
      Benefit Guarantee Corporation, in the ordinary course and without default) in respect of a Plan (including a &#8220;multiemployer plan&#8221; within the meaning of Section 4001(a)(3) of ERISA); and (ix) none of the following events has occurred or is reasonably
      likely to occur: (A) a material increase in the aggregate amount of contributions required to be made to all Plans by the Company or its Controlled Group affiliates in the current fiscal year of the Company and its Controlled Group affiliates
      compared to the amount of such contributions made in the Company&#8217;s and its Controlled Group affiliates&#8217; most recently completed fiscal year; or (B) a material increase in the Company and its subsidiaries&#8217; &#8220;accumulated post-retirement benefit
      obligations&#8221; (within the meaning of Accounting Standards Codification Topic 715-60) compared to the amount of such obligations in the Company and its subsidiaries&#8217; most recently completed fiscal year, except in each case with respect to the events or
      conditions set forth in (i) through (ix) hereof, as would not, individually or in the aggregate, have a Material Adverse Effect.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(dd)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Compliance with Health Care Laws.&#160; </font>Neither the Company nor any of its subsidiaries, nor any of their respective employees, officers, directors,
      agents and contractors, nor, to the knowledge of the Company, any of their respective licensees (if any), nor any of their respective business operations, is in violation of any applicable laws, including Health Care Laws, except where the failure to
      be in compliance would not, individually or in the aggregate, result in a Material Adverse Effect. For purposes of this Agreement, &#8220;Health Care Laws&#8221; means: (i) the Federal Food, Drug, and Cosmetic Act, the regulations promulgated thereunder and any
      applicable non-U.S. counterpart thereof; (ii) all federal, state, local and all foreign health care related fraud and abuse laws, including, without limitation, the U.S. Anti-Kickback Statute (42 U.S.C. Section 1320a-7b(b)), the U.S. Civil False
      Claims Act (31 U.S.C. Section 3729 et seq.), Sections 1320a-7 and 1320a-7a of Title 42 of the United States Code and the regulations promulgated pursuant to such statutes; (iii) any criminal laws relating to health care fraud and abuse, including but
      not limited to 18 U.S.C. Sections 286 and 287, and the health care fraud criminal provisions under the U.S. Health Insurance Portability and Accountability Act of 1996 (&#8220;HIPAA&#8221;); and (iv) the Standards for Privacy of Individually Identifiable Health
      Information, the Security Standards, the Standards for Electronic Transactions and Code Sets promulgated under HIPAA (42 U.S.C. Section 1320d et seq.), the Health Information Technology for Economic and Clinical Health Act (42 U.S.C. Section 17921 et
      seq.), the regulations promulgated thereunder and any state or non-U.S. counterpart thereof. Neither the Company nor any of its subsidiaries has received any warning letter, untitled letter or other correspondence from any governmental or regulatory
      authority alleging or asserting noncompliance with any Health Care Laws.&#160; Additionally, except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, neither the Company nor any of its subsidiaries, nor any of
      their respective employees, officers, directors, nor, to the knowledge of the Company, agents or contractors has been excluded, suspended or debarred from participation in any federal health care program or is subject to an inquiry, investigation,
      proceeding, or other similar matter that could subject the Company, any of its subsidiaries, or any of their respective employees, officers, directors, or, to the knowledge of the Company, agents or contractors to exclusion, suspension or debarment.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">10</font></div>
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    <div style="text-indent: 36pt; margin-left: 36pt;">(ee)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Health Care Permits.&#160; </font>Except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus: (i) the Company and
      its subsidiaries possess, and are in compliance in all material respects with the terms of, all certificates, approvals, clearances, registrations, franchises, licenses, permits, exemptions and other authorizations issued by all applicable
      authorities required for the conduct of the respective businesses as currently conducted, including under the Health Care Laws (collectively, &#8220;Health Care Permits&#8221;); (ii) all such Health Care Permits are in full force and effect and, to the Company&#8217;s
      knowledge, neither the Company nor any of its subsidiaries is in violation of any term of such Health Care Permit in any material respect; (iii) the Company and its subsidiaries have fulfilled and performed all of their material obligations with
      respect to the Health Care Permits and, to the Company&#8217;s knowledge, no event has occurred which allows, or after notice or lapse of time would allow, revocation or termination thereof or result in any other material impairment of the rights of the
      holder of any Health Care Permit; and (iv) neither the Company nor any of its subsidiaries has received any notice of proceedings relating to the revocation or modification of any Health Care Permits that, singly or in the aggregate, if determined
      adversely to the Company or such subsidiary, could have a Material Adverse Effect, and to the Company&#8217;s knowledge, no party granting any such Health Care Permits has taken any action to limit, suspend or revoke the same in any material respect.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(ff)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Clinical Trials.&#160; </font>The clinical trials conducted by or on behalf of the Company or any of its subsidiaries were and, if still pending, are being
      conducted in compliance in all material respects with all applicable federal, state, local and foreign laws, rules and regulations, including, but not limited to, the Federal Food, Drug, and Cosmetic Act and implementing regulations at 21 C.F.R.
      Parts 50, 54, 56, 58 and 312.&#160; Any descriptions of studies, tests and preclinical and clinical trials, including any related results and regulatory status, contained in the Registration Statement, the Pricing Disclosure Package or the Prospectus are
      accurate and complete in all material respects.&#160; The Company is not aware of any studies, tests or trials the results of which reasonably call into question in any material respect the clinical trial results described or referred to in the
      Registration Statement, the Pricing Disclosure Package or the Prospectus.&#160; Neither the Company nor any of its subsidiaries has received any notices, correspondence or other communication from the U.S. Food and Drug Administration, an Institutional
      Review Board, or other governmental agency or non-governmental authority requiring or recommending the termination, suspension or material modification of any clinical trials conducted by, or on behalf of, the Company or any of its subsidiaries or in
      which the Company or any of its subsidiaries has participated.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(gg)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Disclosure Controls</font>.&#160; The Company and its subsidiaries maintain an effective system of &#8220;disclosure controls and procedures&#8221; (as defined in Rule
      13a-15(e) of the Exchange Act) that complies with the requirements of the Exchange Act and that has been designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is
      recorded, processed, summarized and reported within the time periods specified in the Commission&#8217;s rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company&#8217;s management
      as appropriate to allow timely decisions regarding required disclosure.&#160; The Company and its subsidiaries have carried out evaluations of the effectiveness of their disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(hh)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Accounting Controls.</font>&#160; The Company and its subsidiaries maintain systems of &#8220;internal control over financial reporting&#8221; (as defined in Rule
      13a-15(f) of the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the supervision of, their respective principal executive and principal financial officers, or persons performing similar
      functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP.&#160; The Company and its subsidiaries maintain internal accounting
      controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management&#8217;s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in
      conformity with GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management&#8217;s general or specific authorization; (iv) the recorded accountability for assets is compared with the existing assets at
      reasonable intervals and appropriate action is taken with respect to any differences; and (v) interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement, the Prospectus and the
      Pricing Disclosure Package fairly presents the information called for in all material respects and is prepared in accordance with the Commission&#8217;s rules and guidelines applicable thereto.&#160; Based on the Company&#8217;s most recent evaluation of its internal
      controls over financial reporting pursuant to Rule 13a-15(c) of the Exchange Act, except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, there are no material weaknesses in the Company&#8217;s internal
      controls.&#160; The Company&#8217;s auditors and the Audit Committee of the Board of Directors of the Company have been advised of:&#160; (i) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial
      reporting which have adversely affected or are reasonably likely to adversely affect the Company&#8217;s ability to record, process, summarize and report financial information; and (ii) any fraud, whether or not material, that involves management or other
      employees who have a significant role in the Company&#8217;s internal controls over financial reporting.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">11</font></div>
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    <div style="text-indent: 36pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">eXtensible Business Reporting Language.</font> The interactive data in eXtensible Business Reporting Language included or incorporated by reference in
      the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&#8217;s rules and guidelines applicable thereto.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(jj)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Insurance.&#160; </font>The Company and its subsidiaries have insurance covering their respective properties, operations, personnel and businesses, including
      business interruption insurance, which insurance is in amounts and insures against such losses and risks as are adequate to protect the Company and its subsidiaries and their respective businesses; and neither the Company nor any of its subsidiaries
      has (i) received notice from any insurer or agent of such insurer that capital improvements or other expenditures are required or necessary to be made in order to continue such insurance or (ii) any reason to believe that it will not be able to renew
      its existing insurance coverage as and when such coverage expires or to obtain similar coverage at reasonable cost from similar insurers as may be necessary to continue its business.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(kk)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Cybersecurity; Data Protection</font>.&#160; The Company and its subsidiaries&#8217; information technology assets and equipment, computers, systems, networks,
      hardware, software, websites, applications, and databases (collectively, &#8220;IT Systems&#8221;) are adequate for, and operate and perform in all material respects as required in connection with the operation of the business of the Company and its
      subsidiaries, as currently conducted, and are, to the Company&#8217;s knowledge, free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants. The Company and its subsidiaries have implemented and
      maintained commercially reasonable controls, policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and data (including
      personal, personally identifiable, sensitive, confidential or regulated data (&#8220;Personal Data&#8221;)) used in connection with their businesses, and, to the Company&#8217;s knowledge, there have been no significant breaches, violations, outages or unauthorized
      uses of or accesses to same, except for those that have been remedied without material cost or liability or the duty to notify any other person, nor any incidents under internal review or investigations relating to the same.&#160; The Company and its
      subsidiaries are presently in material compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations
      relating to the privacy and security of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized use, access, misappropriation or modification.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(ll)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Unlawful Payments.</font>&#160; Neither the Company nor any of its subsidiaries nor any director, officer or employee of the Company or any of its
      subsidiaries nor, to the knowledge of the Company, any agent, affiliate or other person associated with or acting on behalf of the Company or any of its subsidiaries has (i) used any corporate funds for any unlawful contribution, gift, entertainment
      or other unlawful expense relating to political activity; (ii) made or taken an act in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government official or employee,
      including of any government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for
      political office; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in
      International Business Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom or any other applicable anti-bribery or anti-corruption law; or (iv) made, offered, agreed, requested or taken an act in furtherance of any
      unlawful bribe or other unlawful benefit, including, without limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit.&#160; The Company and its subsidiaries have instituted, maintain and enforce, and
      will continue to maintain and enforce policies and procedures designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption laws.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(mm)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Compliance with Anti-Money Laundering Laws</font>.&#160; The operations of the Company and its subsidiaries are and have been conducted at all times in
      compliance with applicable financial recordkeeping and reporting requirements, including those of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the applicable money laundering statutes of all jurisdictions where the Company
      or any of its subsidiaries conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines issued, administered or enforced by any governmental agency (collectively, the &#8220;Anti-Money Laundering
      Laws&#8221;) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the
      knowledge of the Company, threatened.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(nn)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Conflicts with Sanctions Laws.&#160; </font>Neither the Company nor any of its subsidiaries, directors, officers, or employees, nor, to the knowledge of
      the Company, any agent, affiliate or other person associated with or acting on behalf of the Company or any of its subsidiaries is currently the subject or the target of any sanctions administered or enforced by the U.S. government, (including,
      without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State and including, without limitation, the designation as a &#8220;specially designated national&#8221; or &#8220;blocked person&#8221;), the United
      Nations Security Council, the European Union, Her Majesty&#8217;s Treasury or other relevant sanctions authority (collectively, &#8220;Sanctions&#8221;), nor is the Company or any of its subsidiaries located, organized or resident in a country or territory that is the
      subject or target of Sanctions, including, without limitation, Crimea, Cuba, Iran, North Korea and Syria (each, a &#8220;Sanctioned Country&#8221;); and the Company will not directly or indirectly use the proceeds of the offering of the Securities hereunder, or
      lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity (i) to fund or facilitate any activities of or business with any person that, at the time of such funding or facilitation,
      is the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country or (iii) in any other manner that will result in a violation by any person (including any person participating in the
      transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions.&#160; For the past five years, the Company and its subsidiaries have not knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any
      person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned Country.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">12</font></div>
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    <div style="text-indent: 36pt; margin-left: 36pt;">(oo)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Restrictions on Subsidiaries</font>.&#160; Except with respect to JPR Royalty Sub LLC and MDCP, LLC, as described in the Registration Statement, the
      Pricing Disclosure Package and the Prospectus, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from
      making any other distribution on such subsidiary&#8217;s capital stock or similar ownership interest, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary&#8217;s properties or assets
      to the Company or any other subsidiary of the Company.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(pp)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Broker&#8217;s Fees.</font>&#160; Neither the Company nor any of its subsidiaries is a party to any contract, agreement or understanding with any person (other
      than this Agreement) that would give rise to a valid claim against any of them or any Underwriter for a brokerage commission, finder&#8217;s fee or like payment in connection with the offering and sale of the Securities.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(qq)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Registration Rights</font>.&#160; No person has the right to require the Company or any of its subsidiaries to register any securities for sale under the
      Securities Act by reason of the filing of the Registration Statement with the Commission or the issuance and sale of the Securities.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(rr)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Stabilization.</font>&#160; Neither the Company nor any of its subsidiaries has taken, directly or indirectly, any action designed to or that could
      reasonably be expected to cause or result in any stabilization or manipulation of the price of the Securities.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(ss)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Margin Rules</font>.&#160; Neither the issuance, sale and delivery of the Securities nor the application of the proceeds thereof by the Company as described
      in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System or any other regulation of such Board of Governors.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(tt)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Forward-Looking Statements.</font>&#160; No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange
      Act) included or incorporated by reference in any of the Registration Statement, the Pricing Disclosure Package or the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(uu)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Statistical and Market Data.</font>&#160; Nothing has come to the attention of the Company that has caused the Company to believe that any statistical and
      market-related data included or incorporated by reference in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus is not based on or derived from sources that are reliable and accurate in all material respects.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(vv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Sarbanes-Oxley Act</font>.&#160; There is and has been no failure on the part of the Company or any of the Company&#8217;s directors or officers, in their
      capacities as such, to comply with any provision of the Sarbanes-Oxley Act of 2002, as amended and the rules and regulations promulgated in connection therewith, including Section 402 related to loans and Sections 302 and 906 related to
      certifications.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(ww)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Status under the Securities Act</font>.&#160; At the time of filing the Registration Statement and any post-effective amendment thereto, at the earliest time
      thereafter that the Company or any offering participant made a <font style="font-style: italic;">bona fide</font> offer (within the meaning of Rule 164(h)(2) under the Securities Act) of the Securities and at the date hereof, the Company was not and
      is not an &#8220;ineligible issuer,&#8221; as defined in Rule 405 under the Securities Act.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(xx)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Ratings</font>.&#160; There are (and prior to the Closing Date, will be) no debt securities or preferred stock issued or guaranteed by the Company or any
      of its subsidiaries that are rated by a &#8220;nationally recognized statistical rating organization,&#8221; as such term is defined in Section 3(a)(62) of the Exchange Act.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">13</font></div>
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    </div>
    <div style="text-indent: 36pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Further Agreements of the Company</u>.&#160; The Company covenants and agrees with each Underwriter that:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Required Filings.</font>&#160; The Company will file the final Prospectus with the Commission within the time periods specified by Rule 424(b) and Rule 430A,
      430B or 430C under the Securities Act, will file any Issuer Free Writing Prospectus to the extent required by Rule 433 under the Securities Act; the Company will file promptly all reports and any definitive proxy or information statements required to
      be filed by the Company with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus is required in connection with the offering or sale
      of the Securities; and the Company will furnish copies of the Prospectus and each Issuer Free Writing Prospectus (to the extent not previously delivered) to the Underwriters in New York City prior to 10:00 A.M., New York City time, on the business
      day next succeeding the date of this Agreement in such quantities as the Representatives may reasonably request.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Delivery of Copies.</font>&#160; The Company will deliver, without charge, (i) to the Representatives, two signed copies of the Registration Statement as
      originally filed and each amendment thereto, in each case including all exhibits and consents filed therewith and documents incorporated by reference therein; and (ii) to each Underwriter (A) a conformed copy of the Registration Statement as
      originally filed and each amendment thereto (without exhibits) and (B) during the Prospectus Delivery Period (as defined below), as many copies of the Prospectus (including all amendments and supplements thereto and documents incorporated by
      reference therein and each Issuer Free Writing Prospectus) as the Representatives may reasonably request.&#160; As used herein, the term &#8220;Prospectus Delivery Period&#8221; means such period of time after the first date of the public offering of the Securities
      as in the opinion of counsel for the Underwriters a prospectus relating to the Securities is required by law to be delivered (or required to be delivered but for Rule 172 under the Securities Act) in connection with sales of the Securities by any
      Underwriter or dealer.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Amendments or Supplements, Issuer Free Writing Prospectuses.</font>&#160; Before making, preparing, using, authorizing, approving, referring to or filing any
      Issuer Free Writing Prospectus, and before filing any amendment or supplement to the Registration Statement, the Pricing Disclosure Package or the Prospectus, whether before or after the time that the Registration Statement becomes effective, the
      Company will furnish to the Representatives and counsel for the Underwriters a copy of the proposed Issuer Free Writing Prospectus, amendment or supplement for review and will not make, prepare, use, authorize, approve, refer to or file any such
      Issuer Free Writing Prospectus or file any such proposed amendment or supplement to which the Representatives reasonably object.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Notice to the Representatives.</font>&#160; The Company will advise the Representatives promptly, and confirm such advice in writing, (i) when the Registration
      Statement has become effective; (ii) when any amendment to the Registration Statement has been filed or becomes effective; (iii) when any supplement to the Pricing Disclosure Package, the Prospectus, any Issuer Free Writing Prospectus or any
      amendment to the Prospectus has been filed or distributed; (iv) of any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Prospectus or the receipt of any comments from the Commission
      relating to the Registration Statement or any other request by the Commission for any additional information; (v) of the issuance by the Commission of any order suspending the effectiveness of the Registration Statement or preventing or suspending
      the use of any Preliminary Prospectus, any of the Pricing Disclosure Package or the Prospectus or the initiation or threatening of any proceeding for that purpose or pursuant to Section 8A of the Securities Act; (vi) of the occurrence of any event or
      development within the Prospectus Delivery Period as a result of which the Prospectus, the Pricing Disclosure Package or any Issuer Free Writing Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit
      to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Prospectus, the Pricing Disclosure Package or any such Issuer Free Writing Prospectus is delivered to a purchaser, not
      misleading; and (vii) of the receipt by the Company of any notice with respect to any suspension of the qualification of the Securities for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and
      the Company will use its best efforts to prevent the issuance of any such order suspending the effectiveness of the Registration Statement, preventing or suspending the use of any Preliminary Prospectus, any of the Pricing Disclosure Package or the
      Prospectus or suspending any such qualification of the Securities and, if any such order is issued, will obtain as soon as possible the withdrawal thereof.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">14</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Ongoing Compliance.</font>&#160; (1) If during the Prospectus Delivery Period (i) any event or development shall occur or condition shall exist as a result of
      which the Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the
      Prospectus is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Prospectus to comply with law, the Company will immediately notify the Underwriters thereof and forthwith prepare and, subject to paragraph (c)
      above, file with the Commission and furnish to the Underwriters and to such dealers as the Representatives may designate such amendments or supplements to the Prospectus (or any document to be filed with the Commission and incorporated by reference
      therein) as may be necessary so that the statements in the Prospectus as so amended or supplemented (or any document to be filed with the Commission and incorporated by reference therein) will not, in the light of the circumstances existing when the
      Prospectus is delivered to a purchaser, be misleading or so that the Prospectus will comply with law and (2) if at any time prior to the Closing Date (i) any event or development shall occur or condition shall exist as a result of which the Pricing
      Disclosure Package as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Pricing
      Disclosure Package is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Pricing Disclosure Package to comply with law, the Company will immediately notify the Underwriters thereof and forthwith prepare and,
      subject to paragraph (c) above, file with the Commission (to the extent required) and furnish to the Underwriters and to such dealers as the Representatives may designate such amendments or supplements to the Pricing Disclosure Package (or any
      document to be filed with the Commission and incorporated by reference therein) as may be necessary so that the statements in the Pricing Disclosure Package as so amended or supplemented will not, in the light of the circumstances existing when the
      Pricing Disclosure Package is delivered to a purchaser, be misleading or so that the Pricing Disclosure Package will comply with law.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Blue Sky Compliance.</font>&#160; The Company will use its best efforts, in cooperation with the Underwriters, to qualify the Securities for offer and sale
      under the securities or Blue Sky laws of such jurisdictions as the Representatives shall reasonably request and will continue such qualifications in effect so long as required for distribution of the Securities; <u>provided</u> that the Company
      shall not be required to (i) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any general consent to service of process in any
      such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Earning Statement.&#160; </font>The Company will make generally available to its security holders and the Representatives as soon as practicable an earning
      statement that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 of the Commission promulgated thereunder covering a period of at least twelve months beginning with the first fiscal quarter of the Company occurring after
      the &#8220;effective date&#8221; (as defined in Rule 158) of the Registration Statement.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Clear Market.</font>&#160; For a period of 60 days after the date of the Prospectus, the Company will not (i) offer, pledge, sell, contract to sell, sell any
      option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, or submit to, or file with, the Commission a registration
      statement under the Securities Act relating to, any shares of Stock or any securities convertible into or exercisable or exchangeable for Stock, or publicly disclose the intention to undertake any of the foregoing, or (ii) enter into any swap or
      other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Stock or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Stock or
      such other securities, in cash or otherwise, without the prior written consent of the Representatives, other than (A) the Securities to be sold hereunder and the delivery of Warrant Shares upon exercise of the Warrants, (B) shares and options to
      purchase shares of Common Stock issued pursuant to the Company Stock Plans and (C) any shares of Stock of the Company issued upon the exercise of options or upon the vesting of restricted stock units, in each case granted under the Company Stock
      Plans.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">15</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Use of Proceeds.</font>&#160; The Company will apply the net proceeds from the sale of the Securities as described in the Registration Statement, the Pricing
      Disclosure Package and the Prospectus under the heading &#8220;Use of proceeds.&#8221;</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Stabilization.</font>&#160; The Company will not take, directly or indirectly, any action designed to or that could reasonably be expected to cause or
      result in any stabilization or manipulation of the price of the Stock.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Exchange Listing.</font>&#160; The Company will use its best efforts to list for quotation the Shares and the Warrant Shares on the Nasdaq Global Select
      Market.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Reports.</font>&#160; So long as any of the Securities or the Warrant Shares are outstanding, the Company will furnish to the Representatives, as soon as they
      are available, copies of all reports or other communications (financial or other) furnished to holders of the Securities or the Warrant Shares, and copies of any reports and financial statements furnished to or filed with the Commission or any
      national securities exchange or automatic quotation system; <u>provided</u> the Company will be deemed to have furnished such reports and financial statements to the Representatives to the extent they are filed on the Commission&#8217;s Electronic Data
      Gathering, Analysis, and Retrieval system.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Record Retention</font>.&#160; The Company will, pursuant to reasonable procedures developed in good faith, retain copies of each Issuer Free Writing
      Prospectus that is not filed with the Commission in accordance with Rule 433 under the Securities Act.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Certain Agreements of the Underwriters</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each Underwriter hereby severally represents and agrees that:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;It has not and will not use, authorize use of, refer to or participate in the planning for use of, any &#8220;free writing prospectus,&#8221; as defined in Rule 405 under the Securities Act (which
      term includes use of any written information furnished to the Commission by the Company and not incorporated by reference into the Registration Statement and any press release issued by the Company) other than (i) a free writing prospectus that
      contains no &#8220;issuer information&#8221; (as defined in Rule 433(h)(2) under the Securities Act) that was not included (including through incorporation by reference) in the Preliminary Prospectus or a previously filed Issuer Free Writing Prospectus, (ii) any
      Issuer Free Writing Prospectus listed on Annex A or prepared pursuant to Section 3(c) or Section 4(c) above (including any electronic road show), or (iii) any free writing prospectus prepared by such underwriter and approved by the Company in advance
      in writing (each such free writing prospectus referred to in clauses (i) or (iii), an &#8220;Underwriter Free Writing Prospectus&#8221;).</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;It has not and will not, without the prior written consent of the Company, use any free writing prospectus that contains the final terms of the Securities unless such terms have previously
      been included in a free writing prospectus filed with the Commission; <u>provided</u> that Underwriters may use a term sheet substantially in the form of Annex B hereto without the consent of the Company; <u>provided further</u> that any
      Underwriter using such term sheet shall notify the Company, and provide a copy of such term sheet to the Company, prior to, or substantially concurrently with, the first use of such term sheet.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;It is not subject to any pending proceeding under Section 8A of the Securities Act with respect to the offering (and will promptly notify the Company if any such proceeding against it is
      initiated during the Prospectus Delivery Period).</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">16</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Conditions of Underwriters&#8217; Obligations.</u>&#160; The obligation of each Underwriter to purchase the Underwritten Securities on the Closing Date or the Option Shares on the Additional Closing Date, as the case
      may be, as provided herein is subject to the performance by the Company of its covenants and other obligations hereunder and to the following additional conditions:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Registration Compliance; No Stop Order.</font>&#160; No order suspending the effectiveness of the Registration Statement shall be in effect, and no proceeding
      for such purpose or pursuant to Section 8A under the Securities Act shall be pending before or threatened by the Commission; the Prospectus and each Issuer Free Writing Prospectus shall have been timely filed with the Commission under the Securities
      Act (in the case of an Issuer Free Writing Prospectus, to the extent required by Rule 433 under the Securities Act) and in accordance with Section 4(a) hereof; and all requests by the Commission for additional information shall have been complied
      with to the reasonable satisfaction of the Representatives.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Representations and Warranties.</font>&#160; The representations and warranties of the Company contained herein shall be true and correct on the date hereof
      and on and as of the Closing Date or the Additional Closing Date, as the case may be; and the statements of the Company and its officers made in any certificates delivered pursuant to this Agreement shall be true and correct on and as of the Closing
      Date or the Additional Closing Date, as the case may be.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Material Adverse Change.</font>&#160; No event or condition of a type described in Section 3(g) hereof shall have occurred or shall exist, which event or
      condition is not described in the Pricing Disclosure Package (excluding any amendment or supplement thereto) and the Prospectus (excluding any amendment or supplement thereto) and the effect of which in the judgment of the Representatives makes it
      impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the Closing Date or the Additional Closing Date, as the case may be, on the terms and in the manner contemplated by this Agreement, the Pricing
      Disclosure Package and the Prospectus.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Officer&#8217;s Certificate.</font>&#160; The Representatives shall have received on and as of the Closing Date or the Additional Closing Date, as the case may be, a
      certificate of the chief financial officer or chief accounting officer of the Company and one additional senior executive officer of the Company who is satisfactory to the Representatives (i) confirming that the representations and warranties of the
      Company in this Agreement are true and correct and that the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date or the Additional Closing Date, as
      the case may be, and (ii) to the effect set forth in paragraphs (a) and (c) above.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Comfort Letters.&#160; </font>(i) On the date of this Agreement and on the Closing Date or the Additional Closing Date, as the case may be, Ernst &amp; Young
      LLP shall have furnished to the Representatives, at the request of the Company, letters, dated the respective dates of delivery thereof and addressed to the Underwriters, in form and substance reasonably satisfactory to the Representatives,
      containing statements and information of the type customarily included in accountants&#8217; &#8220;comfort letters&#8221; to underwriters with respect to the financial statements and certain financial information contained or incorporated by reference in each of the
      Registration Statement, the Pricing Disclosure Package and the Prospectus; <u>provided</u>, that the letter delivered on the Closing Date or the Additional Closing Date, as the case may be, shall use a &#8220;cut-off&#8221; date no more than three business days
      prior to such Closing Date or such Additional Closing Date, as the case may be; and (ii) on the date of this Agreement and on the Closing Date or the Additional Closing Date, as the case may be, the Company shall have furnished to the Representatives
      a certificate, dated the respective dates of delivery thereof and addressed to the Underwriters, of its chief financial officer with respect to certain financial data contained in the Pricing Disclosure Package and the Prospectus, providing
      &#8220;management comfort&#8221; with respect to such information, in form and substance reasonably satisfactory to the Representatives, to the effect set forth in Annex C hereto.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">17</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Opinion and 10b-5 Statement of Counsel for the Company.</font>&#160; Gibson, Dunn &amp; Crutcher LLP, counsel for the Company, shall have furnished to the
      Representatives, at the request of the Company, their written opinion and 10b-5 statement, addressed to the Underwriters, dated the Closing Date or the Additional Closing Date, as the case may be, in form and substance reasonably satisfactory to the
      Representatives.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Opinion of General Counsel.</font>&#160; Alane Barnes, the General Counsel of the Company, shall have furnished to the Representatives, at the request of the
      Company, her written opinion, addressed to the Underwriters, dated the Closing Date or the Additional Closing Date, as the case may be, in form and substance reasonably satisfactory to the Representatives.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Opinion and 10b-5 Statement of Counsel for the Underwriters.</font>&#160; The Representatives shall have received on and as of the Closing Date or the
      Additional Closing Date, as the case may be, an opinion and 10b-5 statement of Latham &amp; Watkins LLP, counsel for the Underwriters, with respect to such matters as the Representatives may reasonably request, and such counsel shall have received
      such documents and information as they may reasonably request to enable them to pass upon such matters.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">No Legal Impediment to Issuance and Sale.</font>&#160; No action shall have been taken and no statute, rule, regulation or order shall have been enacted,
      adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date or the Additional Closing Date, as the case may be, prevent the issuance or sale of the Securities; and no injunction or order
      of any federal, state or foreign court shall have been issued that would, as of the Closing Date or the Additional Closing Date, as the case may be, prevent the issuance or sale of the Securities.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Good Standing</font>.&#160; The Representatives shall have received on and as of the Closing Date or the Additional Closing Date, as the case may be,
      satisfactory evidence of the good standing of the Company and its subsidiaries in their respective jurisdictions of organization and their good standing as foreign entities in such other jurisdictions as the Representatives may reasonably request, in
      each case in writing or any standard form of telecommunication from the appropriate governmental authorities of such jurisdictions.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Exchange Listing.</font>&#160; The Shares to be delivered on the Closing Date or the Additional Closing Date, as the case may be, and any Warrant Shares to be
      delivered upon exercise of the Warrants, shall have been approved for listing on the Nasdaq Global Select Market, subject to official notice of issuance.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Lock-up Agreements</font>.&#160; The &#8220;lock-up&#8221; agreements, each substantially in the form of Annex D hereto, between you and each of the officers and directors
      of the Company relating to sales and certain other dispositions of shares of Stock or certain other securities, delivered to you on or before the date hereof, shall be full force and effect on the Closing Date or the Additional Closing Date, as the
      case may be.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Additional Documents.</font>&#160; On or prior to the Closing Date or the Additional Closing Date, as the case may be, the Company shall have furnished to the
      Representatives such further certificates and documents as the Representatives may reasonably request.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance reasonably
      satisfactory to counsel for the Underwriters.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">18</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Indemnification and Contribution</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Indemnification of the Underwriters.</font>&#160; The Company agrees to indemnify and hold harmless each Underwriter, its affiliates, directors and officers and each person, if
      any, who controls such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other
      expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (i) any untrue statement or alleged untrue statement of a
      material fact contained in the Registration Statement or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading, or (ii) any
      untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), any Preliminary Prospectus, any Issuer Free Writing Prospectus, any &#8220;issuer information&#8221; filed or required to be
      filed pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a &#8220;road show&#8221;) or any Pricing Disclosure Package (including any Pricing Disclosure Package that has subsequently been amended),
      or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses,
      claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Underwriter furnished to the Company
      in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such in paragraph (b) below.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Indemnification of the Company.</font>&#160; Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, its directors, its officers who
      signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but
      only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to
      such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, the Prospectus (or any amendment or supplement thereto), any Preliminary Prospectus, any Issuer Free
      Writing Prospectus, any road show or any Pricing Disclosure Package (including any Pricing Disclosure Package that has subsequently been amended), it being understood and agreed upon that the only such information furnished by any Underwriter
      consists of the following information in the Prospectus furnished on behalf of each Underwriter: the concession figure appearing in the third paragraph under the caption &#8220;Underwriting.&#8221;</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Notice and Procedures.</font>&#160; If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against
      any person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such person (the &#8220;Indemnified Person&#8221;) shall promptly notify the person against whom such indemnification may be sought (the &#8220;Indemnifying
      Person&#8221;) in writing; <u>provided</u> that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under either paragraph (a) or (b) above except to the extent that it has been materially prejudiced
      (through the forfeiture of substantive rights or defenses) by such failure; and <u>provided</u>, <u>further</u>, that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person
      otherwise than under either paragraph (a) or (b) above.&#160; If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel
      reasonably satisfactory to the Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the Indemnified Person and any others entitled to indemnification pursuant to this
      Section that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred.&#160; In any such proceeding, any Indemnified Person shall have the right to retain its own
      counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed
      within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to
      those available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel
      would be inappropriate due to actual or potential differing interests between them.&#160; It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for
      the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be paid or reimbursed as they are incurred.&#160; Any such separate firm for any Underwriter,
      its affiliates, directors and officers and any control persons of such Underwriter shall be designated in writing by the Representatives and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and
      any control persons of the Company shall be designated in writing by the Company.&#160; The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be
      a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment.&#160; Notwithstanding the foregoing sentence, if at any time an
      Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding
      effected without its written consent if (i) such settlement is entered into more than 45 days after receipt by the Indemnifying Person of such request, (ii) such indemnifying party shall have received notice of the terms of such settlement at least
      30 days prior to such settlement being entered into and (iii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement.&#160; No Indemnifying Person shall, without the
      written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified
      Person, unless such settlement (x) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and
      (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">19</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Contribution.</font>&#160; If the indemnification provided for in paragraphs (a) and (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses,
      claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result
      of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company, on the one hand, and the Underwriters on the other, from the offering of the Securities or (ii) if the
      allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company, on the one hand, and the
      Underwriters on the other, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations.&#160; The relative benefits received by the Company, on the one
      hand, and the Underwriters on the other, shall be deemed to be in the same respective proportions as the net proceeds (before deducting expenses) received by the Company from the sale of the Securities and the total underwriting discounts and
      commissions received by the Underwriters in connection therewith, in each case as set forth in the table on the cover of the Prospectus, bear to the aggregate offering price of the Securities.&#160; The relative fault of the Company, on the one hand, and
      the Underwriters on the other, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by
      the Company or by the Underwriters and the parties&#8217; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Limitation on Liability.</font>&#160; The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to paragraph (d) above were
      determined by <u>pro</u>&#160;<u>rata</u> allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d)
      above.&#160; The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any legal or other
      expenses incurred by such Indemnified Person in connection with any such action or claim.&#160; Notwithstanding the provisions of paragraphs (d) and (e), in no event shall an Underwriter be required to contribute any amount in excess of the amount by
      which the total underwriting discounts and commissions received by such Underwriter with respect to the offering of the Securities exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or
      alleged untrue statement or omission or alleged omission.&#160; No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
      fraudulent misrepresentation.&#160; The Underwriters&#8217; obligations to contribute pursuant to paragraphs (d) and (e) are several in proportion to their respective purchase obligations hereunder and not joint.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Non-Exclusive Remedies.</font>&#160; The remedies provided for in this Section 7 are not exclusive and shall not limit any rights or remedies which may otherwise be available to
      any Indemnified Person at law or in equity.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Effectiveness of Agreement</u>.&#160; This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Termination</u>.&#160; This Agreement may be terminated in the absolute discretion of the Representatives, by notice to the Company, if after the execution and delivery of this Agreement and prior to the
      Closing Date or, in the case of the Option Shares, prior to the Additional Closing Date (i) trading generally shall have been suspended or materially limited on or by any of the New York Stock Exchange or the Nasdaq Stock Market; (ii) trading of any
      securities issued or guaranteed by the Company shall have been suspended on any exchange or in any over-the-counter market; (iii) a general moratorium on commercial banking activities shall have been declared by federal or New York State authorities;
      or (iv) there shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any calamity or crisis, either within or outside the United States, that, in the judgment of the Representatives, is material and
      adverse and makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the Closing Date or the Additional Closing Date, as the case may be, on the terms and in the manner contemplated by this Agreement,
      the Pricing Disclosure Package and the Prospectus.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">20</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Defaulting Underwriter</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If, on the Closing Date or the Additional Closing Date, as the case may be, any Underwriter defaults on its obligation to purchase the Securities that it has agreed to purchase hereunder on such date, the
      non-defaulting Underwriters may in their discretion arrange for the purchase of such Securities by other persons satisfactory to the Company on the terms contained in this Agreement.&#160; If, within 36 hours after any such default by any Underwriter, the
      non-defaulting Underwriters do not arrange for the purchase of such Securities, then the Company shall be entitled to a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Underwriters to purchase such
      Securities on such terms.&#160; If other persons become obligated or agree to purchase the Securities of a defaulting Underwriter, either the non&#8209;defaulting Underwriters or the Company may postpone the Closing Date or the Additional Closing Date, as the
      case may be, for up to five full business days in order to effect any changes that in the opinion of counsel for the Company or counsel for the Underwriters may be necessary in the Registration Statement and the Prospectus or in any other document or
      arrangement, and the Company agrees to promptly prepare any amendment or supplement to the Registration Statement and the Prospectus that effects any such changes.&#160; As used in this Agreement, the term &#8220;Underwriter&#8221; includes, for all purposes of this
      Agreement unless the context otherwise requires, any person not listed in Schedule 1 hereto that, pursuant to this Section 10, purchases Securities that a defaulting Underwriter agreed but failed to purchase.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by the non-defaulting Underwriters and the Company as provided in paragraph (a)
      above, the aggregate number of Securities that remain unpurchased on the Closing Date or the Additional Closing Date, as the case may be, does not exceed one-eleventh of the aggregate number of Securities to be purchased on such date, then the
      Company shall have the right to require each non-defaulting Underwriter to purchase the number of Securities that such Underwriter agreed to purchase hereunder on such date plus such Underwriter&#8217;s pro rata share (based on the number of Securities
      that such Underwriter agreed to purchase on such date) of the Securities of such defaulting Underwriter or Underwriters for which such arrangements have not been made.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by the non-defaulting Underwriters and the Company as provided in paragraph (a)
      above, the aggregate number of Securities that remain unpurchased on the Closing Date or the Additional Closing Date, as the case may be, exceeds one-eleventh of the aggregate amount of Securities to be purchased on such date, or if the Company shall
      not exercise the right described in paragraph (b) above, then this Agreement, or, with respect to any Additional Closing Date, the obligation of the Underwriters to purchase Securities on the Additional Closing Date, shall terminate without liability
      on the part of the non-defaulting Underwriters.&#160; Any termination of this Agreement pursuant to this Section 10 shall be without liability on the part of the Company, except that the Company will continue to be liable for the payment of expenses as
      set forth in Section 11 hereof and except that the provisions of Section 7 hereof shall not terminate and shall remain in effect.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Nothing contained herein shall relieve a defaulting Underwriter of any liability it may have to the Company or any non-defaulting Underwriter for damages caused by its default.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Payment of Expenses</u><font style="font-style: italic;">.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Whether or not the transactions contemplated by this Agreement are consummated or this Agreement is terminated, the Company will pay or cause to be paid all costs and expenses incident to the performance of
      its obligations hereunder, including without limitation, (i) the costs incident to the authorization, issuance, sale, preparation and delivery of the Securities and any taxes payable in that connection; (ii) the costs incident to the preparation,
      printing and filing under the Securities Act of the Registration Statement, the Preliminary Prospectus, any Issuer Free Writing Prospectus, any Pricing Disclosure Package and the Prospectus (including all exhibits, amendments and supplements thereto)
      and the distribution thereof; (iii) the fees and expenses of the Company&#8217;s counsel and independent accountants; (iv) the reasonable fees and expenses incurred in connection with the registration or qualification and determination of eligibility for
      investment of the Securities under the state or foreign securities or blue sky laws of such jurisdictions as the Representatives may designate and the preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and
      expenses of counsel for the Underwriters); (v) the cost of preparing stock certificates; (vi) the costs and charges of any transfer agent and any registrar; (vii) all expenses and application fees incurred in connection with any filing with, and
      clearance of the offering by, FINRA; (viii) all expenses incurred by the Company in connection with any &#8220;road show&#8221; presentation to potential investors; and (ix) all expenses and application fees related to the listing of the Shares and the Warrant
      Shares on the Nasdaq Global Select Market.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If (i) this Agreement is terminated pursuant to Section 9, (ii) the Company for any reason fails to tender the Securities for delivery to the Underwriters or (iii) the Underwriters decline to purchase the
      Securities for any reason permitted under this Agreement, the Company agrees to reimburse the Underwriters for all out-of-pocket costs and expenses (including the reasonable fees and expenses of their counsel) reasonably incurred by the Underwriters
      in connection with this Agreement and the offering contemplated hereby.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">21</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Persons Entitled to Benefit of Agreement</u>.&#160; This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers and directors and any
      controlling persons referred to herein, and the affiliates of each Underwriter referred to in Section 7 hereof.&#160; Nothing in this Agreement is intended or shall be construed to give any other person any legal or equitable right, remedy or claim under
      or in respect of this Agreement or any provision contained herein.&#160; No purchaser of Securities from any Underwriter shall be deemed to be a successor merely by reason of such purchase.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Survival</u>.&#160; The respective indemnities, rights of contribution, representations, warranties and agreements of the Company and the Underwriters contained in this Agreement or made by or on behalf of the
      Company or the Underwriters pursuant to this Agreement or any certificate delivered pursuant hereto shall survive the delivery of and payment for the Securities and shall remain in full force and effect, regardless of any termination of this
      Agreement or any investigation made by or on behalf of the Company or the Underwriters.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Certain Defined Terms</u>.&#160; For purposes of this Agreement, (a) except where otherwise expressly provided, the term &#8220;affiliate&#8221; has the meaning set forth in Rule 405 under the Securities Act; (b) the term
      &#8220;business day&#8221; means any day other than a day on which banks are permitted or required to be closed in New York City; and (c) the term &#8220;subsidiary&#8221; has the meaning set forth in Rule 405 under the Securities Act.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Compliance with USA Patriot Act</u>. In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the Underwriters are required to obtain,
      verify and record information that identifies their respective clients, including the Company, which information may include the name and address of their respective clients, as well as other information that will allow the Underwriters to properly
      identify their respective clients.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Miscellaneous</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Notices.</font>&#160; All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted and confirmed by any
      standard form of telecommunication.&#160; Notices to the Underwriters shall be given to the Representatives c/o J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179 (fax:&#160; (212) 622-8358), Attention:&#160; Equity Syndicate Desk and Piper
      Sandler &amp; Co., 800 Nicollet Mall, Minneapolis, Minnesota 55402.&#160; Notices to the Company shall be given to it at 4505 Emperor Blvd., Suite 200, Durham, North Carolina 27703 (fax:&#160; (919) 856-1314); Attention: Alane Barnes.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Governing Law.</font>&#160; This Agreement and any claim, controversy or dispute arising under or related to this Agreement shall be governed by and construed in accordance with
      the laws of the State of New York applicable to agreements made and to be performed in such state.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Submission to Jurisdiction</font>. The Company hereby submits to the exclusive jurisdiction of the U.S. federal and New York state courts in the Borough of Manhattan in The
      City of New York in any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. The Company waives any objection which it may now or hereafter have to the laying of venue of any such suit or proceeding
      in such courts. The Company agrees that final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company and may be enforced in any court to the jurisdiction of which Company is subject by a
      suit upon such judgment.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Waiver of Jury Trial</font>.&#160; Each of the parties hereto hereby waives any right to trial by jury in any suit or proceeding arising out of or relating to this Agreement.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">22</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Recognition of the U.S. Special Resolution Regimes</font>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(i) In the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Underwriter of this Agreement, and any
      interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of
      the United States or a state of the United States.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(ii) In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under
      this Agreement that may be exercised against such Underwriter are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the
      United States or a state of the United States.</div>
    <div><br>
    </div>
    <div style="margin-left: 72pt;">As used in this Section 16(e):</div>
    <div><br>
    </div>
    <div style="margin-left: 72pt;">&#8220;BHC Act Affiliate&#8221; has the meaning assigned to the term &#8220;affiliate&#8221; in, and shall be interpreted in accordance with, 12 U.S.C. &#167; 1841(k).</div>
    <div><br>
    </div>
    <div style="margin-left: 72pt;">&#8220;Covered Entity&#8221; means any of the following:</div>
    <div><br>
    </div>
    <div style="margin-left: 90pt;">(i) a &#8220;covered entity&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 252.82(b);</div>
    <div><br>
    </div>
    <div style="margin-left: 90pt;">(ii) a &#8220;covered bank&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 47.3(b); or</div>
    <div><br>
    </div>
    <div style="margin-left: 90pt;">(iii) a &#8220;covered FSI&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 382.2(b).</div>
    <div><br>
    </div>
    <div style="margin-left: 72pt;">&#8220;Default Right&#8221; has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. &#167;&#167; 252.81, 47.2 or 382.1, as applicable.</div>
    <div><br>
    </div>
    <div style="margin-left: 72pt;">&#8220;U.S. Special Resolution Regime&#8221; means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the
      regulations promulgated thereunder.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Counterparts.</font>&#160; This Agreement may be signed in counterparts (which may include counterparts delivered by any standard form of telecommunication), each of which shall
      be an original and all of which together shall constitute one and the same instrument.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Amendments or Waivers.</font>&#160; No amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure therefrom, shall in any event be
      effective unless the same shall be in writing and signed by the parties hereto.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Headings.</font>&#160; The headings herein are included for convenience of reference only and are not intended to be part of, or to affect the meaning or interpretation of, this
      Agreement.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">23</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-indent: 36pt;">If the foregoing is in accordance with your understanding, please indicate your acceptance of this Agreement by signing in the space provided below.</div>
    <div style="text-indent: 36pt;"> <br>
    </div>
    <div style="text-indent: 36pt;">
      <table id="zbfb7da4a8c704db190df6750c27e583b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td colspan="3" rowspan="1">
              <div>&#160;Very truly yours,<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td colspan="3" rowspan="1">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td colspan="3" rowspan="1">
              <div>&#160;BIOCRYST PHARMACEUTICALS, INC.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td colspan="3" rowspan="1">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; padding-bottom: 2px;">
              <div>&#160;By: <br>
              </div>
            </td>
            <td colspan="2" style="border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;/s/ Alane P. Barnes</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;Name:</div>
            </td>
            <td colspan="2" rowspan="1" style="width: 10%;">&#160;Alane P. Barnes</td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
              <div>
                <div>&#160;Title:</div>
              </div>
            </td>
            <td colspan="2" rowspan="1" style="width: 10%;">&#160;Senior Vice President and Chief Legal Officer</td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
            <td style="width: 30%;"><br>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;"><br>
            </td>
            <td style="width: 10%;"><br>
            </td>
            <td><br>
            </td>
            <td><br>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div>Accepted:&#160; As of the date first written above</div>
    <div><br>
    </div>
    <div>J.P. MORGAN SECURITIES LLC</div>
    <div>PIPER SANDLER &amp; CO.</div>
    <div><br>
    </div>
    <div>For themselves&#160; and on behalf of the</div>
    <div>several Underwriters listed</div>
    <div>in Schedule 1 hereto.</div>
    <div><br>
    </div>
    <div>J.P. MORGAN SECURITIES LLC</div>
    <div><br>
    </div>
    <div>
      <table id="z67fb8b39b0794163811cced062e6e697" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 10%; padding-bottom: 2px;">
              <div>&#160;By:</div>
            </td>
            <td style="width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;/s/ David Ke<br>
              </div>
            </td>
            <td style="width: 50%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div style="text-align: center;">&#160;Authorized Signatory</div>
            </td>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <div>PIPER SANDLER &amp; CO.</div>
    <div><br>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 10%; padding-bottom: 2px;">
              <div>&#160;By:</div>
            </td>
            <td style="width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;/s/ Paul Scansaroli<br>
              </div>
            </td>
            <td style="width: 50%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div style="text-align: center;">&#160;Authorized Signatory</div>
            </td>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <br>
    </div>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div><br>
    <div><br>
    </div>
    <div style="text-align: right;">Schedule 1</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z70ca0d8308cf4aa6a3d5f35f942a80a7" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 55.21%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Underwriter</div>
          </td>
          <td style="width: 22.4%; vertical-align: top; border-bottom: 2px solid black;">
            <div>Number of Underwritten Shares</div>
          </td>
          <td style="width: 22.4%; vertical-align: top; border-bottom: 2px solid black;">
            <div>Number of Warrants</div>
          </td>
        </tr>
        <tr>
          <td style="width: 55.21%; vertical-align: top;">
            <div>J.P. Morgan Securities LLC</div>
          </td>
          <td style="width: 22.4%; vertical-align: top;">
            <div>10,291,113</div>
          </td>
          <td style="width: 22.4%; vertical-align: top;">
            <div>1,931,112</div>
          </td>
        </tr>
        <tr>
          <td style="width: 55.21%; vertical-align: top;">
            <div>Piper Sandler &amp; Co.</div>
          </td>
          <td style="width: 22.4%; vertical-align: top;">
            <div>5,613,334</div>
          </td>
          <td style="width: 22.4%; vertical-align: top;">
            <div>1,053,333</div>
          </td>
        </tr>
        <tr>
          <td style="width: 55.21%; vertical-align: top;">
            <div>H.C. Wainwright &amp; Co., LLC</div>
          </td>
          <td style="width: 22.4%; vertical-align: top;">
            <div>1,403,333</div>
          </td>
          <td style="width: 22.4%; vertical-align: top;">
            <div>263,333</div>
          </td>
        </tr>
        <tr>
          <td style="width: 55.21%; vertical-align: top;">
            <div>JMP Securities LLC</div>
          </td>
          <td style="width: 22.4%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>1,403,333</div>
          </td>
          <td style="width: 22.4%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>263,333</div>
          </td>
        </tr>
        <tr>
          <td style="width: 55.21%; vertical-align: top;">
            <div style="text-align: right;">Total&#160;&#160; <br>
            </div>
          </td>
          <td style="width: 22.4%; vertical-align: top; border-top: #000000 4px double;">
            <div>18,711,113</div>
          </td>
          <td style="width: 22.4%; vertical-align: top; border-top: #000000 4px double;">
            <div>3,511,111</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: right;">Schedule 2</div>
    <div><br>
    </div>
    <div style="text-align: center;"><u>Subsidiaries of the Company</u></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze5278fc10af840c3a82ec12616efd2cd" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 24.67%; vertical-align: top; border-bottom: 2px solid black;">
            <div>Name</div>
          </td>
          <td style="width: 19.77%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: center;">Jurisdiction of Organization</div>
          </td>
          <td style="width: 26.37%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: center;">Type of Entity</div>
          </td>
          <td style="width: 29.19%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: center;">Names of General</div>
            <div style="text-align: center;">Partners/Managing</div>
            <div style="text-align: center;">Members</div>
          </td>
        </tr>
        <tr>
          <td style="width: 24.67%; vertical-align: top;">
            <div>JPR Royalty Sub LLC</div>
          </td>
          <td style="width: 19.77%; vertical-align: top;">
            <div style="text-align: center;">Delaware</div>
          </td>
          <td style="width: 26.37%; vertical-align: top;">
            <div style="text-align: center;">Limited Liability</div>
            <div style="text-align: center;">Company</div>
          </td>
          <td style="width: 29.19%; vertical-align: top;">
            <div style="text-align: center;">BioCryst</div>
            <div style="text-align: center;">Pharmaceuticals, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 24.67%; vertical-align: top;">
            <div>MDCP, LLC</div>
          </td>
          <td style="width: 19.77%; vertical-align: top;">
            <div style="text-align: center;">Delaware</div>
          </td>
          <td style="width: 26.37%; vertical-align: top;">
            <div style="text-align: center;">Limited Liability</div>
            <div style="text-align: center;">Company</div>
          </td>
          <td style="width: 29.19%; vertical-align: top;">
            <div style="text-align: center;">BioCryst</div>
            <div style="text-align: center;">Pharmaceuticals, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 24.67%; vertical-align: top;">
            <div>BioCryst UK Limited</div>
          </td>
          <td style="width: 19.77%; vertical-align: top;">
            <div style="text-align: center;">United Kingdom</div>
          </td>
          <td style="width: 26.37%; vertical-align: top;">
            <div style="text-align: center;">Private company limited</div>
            <div style="text-align: center;">by shares</div>
          </td>
          <td style="width: 29.19%; vertical-align: top;">
            <div style="text-align: center;">n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 24.67%; vertical-align: top;">
            <div>BioCryst Ireland Limited</div>
          </td>
          <td style="width: 19.77%; vertical-align: top;">
            <div style="text-align: center;">Ireland</div>
          </td>
          <td style="width: 26.37%; vertical-align: top;">
            <div style="text-align: center;">Private company limited</div>
            <div style="text-align: center;">by shares</div>
          </td>
          <td style="width: 29.19%; vertical-align: top;">
            <div style="text-align: center;">n/a</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: right;">Annex A</div>
    <div><br>
    </div>
    <div>a.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Free Writing Prospectuses Included in Pricing Disclosure Package</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">None.</div>
    <div><br>
    </div>
    <div>b.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Pricing Information Provided Orally by Underwriters</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Public offering price per Share: $4.50</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Shares being offered: 18,711,113</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Public offering price per Warrant: $4.49</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Warrants being offered: 3,511,111</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: right;">Annex B</div>
    <div><br>
    </div>
    <div style="text-align: center;"><u>Pricing Term Sheet</u></div>
    <div><br>
    </div>
    <div style="text-align: center;">None.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-align: right;">Annex C</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Form of Chief Financial Officer&#8217;s Certificate</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CHIEF FINANCIAL OFFICER&#8217;S CERTIFICATE</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">BIOCRYST PHARMACEUTICALS, INC.</div>
    <div><br>
    </div>
    <div style="text-align: center;">May [ <font style="font-family: Times New Roman">&#9679;</font> ], 2020</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">In connection with the offering, sale and issuance by BioCryst Pharmaceuticals, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), of up to 22,044,447 shares of common stock (which includes
      3,333,334 shares subject to an option to purchase additional shares) and pre-funded warrants to purchase 3,511,111 shares of common stock of the Company (the &#8220;<u>Offering</u>&#8221;), pursuant to a registration statement on Form S-3 under the Securities
      Act of 1933 (File No. 333-237820)<font style="font-weight: bold; font-style: italic;">&#160;</font>(as amended as of the date hereof, the &#8220;<u>Registration Statement</u>&#8221;), a preliminary prospectus dated May 27, 2020 (the &#8220;<u>Preliminary Prospectus</u>&#8221;),
      a final prospectus dated May 27, 2020 (the &#8220;<u>Final Prospectus</u>&#8221;) and an Underwriting Agreement, dated May 27, 2020 (the &#8220;<u>Underwriting Agreement</u>&#8221;), by and among the Company and J.P. Morgan Securities LLC and Piper Sandler &amp; Co, as
      representatives (the &#8220;<u>Representatives</u>&#8221;) of the Underwriters named in Schedule 1 thereto, I, Anthony Doyle, solely in my capacity as Chief Financial Officer of the Company, have been asked to deliver this certificate to the Representatives, on
      behalf of the Company.&#160; Based on my examination of the Company&#8217;s financial records and schedules undertaken by myself or members of my staff who are responsible for the Company&#8217;s financial accounting matters, I hereby certify, on behalf of the
      Company and solely in my capacity as Chief Financial Officer of the Company, that:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z067c62f6da5f4c33bc18d3178a45267b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(1)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>I have read the documents incorporated by reference in the Registration Statement, the Preliminary Prospectus and the Final Prospectus, including the financial projections disclosed in the Company&#8217;s Quarterly Report on Form 10-Q for the
              quarter ended March 31, 2020 under the caption &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8212;Financial Outlook for 2020.&#8221;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z340b72191cd8413197875798784831c0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(2)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>I or members of my staff who are responsible for the Company&#8217;s financial and accounting matters supervised the compilation of the Company&#8217;s financial projections specified in <u>Annex I</u> hereto and set forth in the Company&#8217;s Quarterly
              Report on Form 10-Q for the quarter ended March 31, 2020 under the caption &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8212;Financial Outlook for 2020&#8221; (together, the &#8220;<u>Specified Financial Projections</u>&#8221;).</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z15e2c8bca79e414db41d1f1f6acf98d3" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(3)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>To the best of my knowledge, the financial information contained in the Specified Financial Projections is true, correct and accurate in all material respects.&#160; The Specified Financial Projections are preliminary and subject to adjustments
              that may arise as a result of the completion of customary quarterly closing and review procedures.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">This Chief Financial Officer&#8217;s Certificate is to assist the Representatives in conducting and documenting their investigation of the affairs of the Company in connection with the Offering covered by
      the Preliminary Prospectus and the Final Prospectus, and the Representatives are entitled to rely on this Chief Financial Officer&#8217;s Certificate.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: right;">Annex D</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FORM OF LOCK-UP AGREEMENT</div>
    <div><br>
    </div>
    <div style="text-align: right;">, 2020</div>
    <div><br>
    </div>
    <div style="text-indent: -18pt; margin-left: 18pt;">J.P. MORGAN SECURITIES LLC</div>
    <div style="text-indent: -18pt; margin-left: 18pt;">PIPER SANDLER &amp; CO.</div>
    <div style="text-indent: -18pt; margin-left: 18pt;">As Representatives of the several</div>
    <div style="text-indent: -18pt; margin-left: 18pt;"><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font>&#160;&#160; Underwriters listed in Schedule 1 to</div>
    <div style="text-indent: -18pt; margin-left: 18pt;"><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"></font>&#160;&#160; the Underwriting Agreement referred to below</div>
    <div><br>
    </div>
    <div style="text-indent: -18pt; margin-left: 18pt;">c/o&#160; J.P. Morgan Securities LLC</div>
    <div style="text-indent: -18pt; margin-left: 18pt;"><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font>&#160;&#160; 383 Madison Avenue</div>
    <div style="text-indent: -18pt; margin-left: 18pt;"><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; </font>&#160;&#160; New York, NY 10179</div>
    <div><br>
    </div>
    <div>c/o&#160; Piper Sandler &amp; Co.</div>
    <div><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font>&#160;&#160; 800 Nicollet Mall, Suite 800
      <div>&#160;&#160;&#160;&#160;&#160;&#160; Minneapolis, MN 55402<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> <br>
        </font></div>
      <br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center;">Re:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;BioCryst Pharmaceuticals, Inc. &#8212; Public Offering</div>
    <div><br>
    </div>
    <div>Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The undersigned understands that you, as Representatives of the several Underwriters, propose to enter into an underwriting agreement (the &#8220;Underwriting Agreement&#8221;) with BioCryst Pharmaceuticals, Inc., a Delaware
      corporation (the &#8220;Company&#8221;), providing for the public offering (the &#8220;Public Offering&#8221;) by the several Underwriters named in Schedule 1 to the Underwriting Agreement (the &#8220;Underwriters&#8221;), of Common Stock, par value $0.01 per share, of the Company and
      pre-funded warrants to purchase shares of common stock of the Company (the &#8220;Securities&#8221;).&#160; Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Underwriting Agreement.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">In consideration of the Underwriters&#8217; agreement to purchase and make the Public Offering of the Securities, and for other good and valuable consideration receipt of which is hereby acknowledged, the undersigned hereby
      agrees that, without the prior written consent of the Representatives on behalf of the Underwriters, the undersigned will not, during the period beginning on the date of this letter agreement (this &#8220;Letter Agreement&#8221;) and ending 60 days after the
      date of the prospectus relating to the Public Offering (the &#8220;Prospectus&#8221; and such period, the &#8220;Restricted Period&#8221;), (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any
      option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock, par value $0.01 per share, of the Company (the &#8220;Common Stock&#8221;) or any securities convertible into or exercisable or
      exchangeable for Common Stock (including without limitation, Common Stock or such other securities which may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations of the Securities and Exchange Commission
      and securities which may be issued upon exercise of a stock option or warrant), or publicly disclose the intention to undertake any of the foregoing, (2) enter into any swap or other agreement that transfers, in whole or in part, any of the economic
      consequences of ownership of the Common Stock or such other securities, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise, or (3) make any
      demand for or exercise any right with respect to the registration of any shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock, in each case other than transfers of shares of Common Stock as a bona
      fide gift or gifts; <u>provided</u> that in the case of any such transfer, each donee shall execute and deliver to the Representatives a lock-up letter in the form of this paragraph; and <u>provided</u>, <u>further</u>, that in the case of any
      such transfer, no filing by any party (donor, donee, transferor or transferee) under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or other public announcement shall be required or shall be made voluntarily in connection with
      such transfer (other than a filing on a Form 5 made after the expiration of the Restricted Period).&#160; The undersigned acknowledges and agrees that the foregoing precludes the undersigned from engaging in any hedging or other transactions designed or
      intended, or which could reasonably be expected to lead to or result in, a sale or disposition of any shares of Common Stock, or securities convertible into or exercisable or exchangeable for Common Stock, even if any such sale or disposition
      transaction or transactions would be made or executed by or on behalf of someone other than the undersigned.&#160; Notwithstanding the foregoing, the terms of this Letter Agreement shall not apply to or prohibit: (A) the establishment of a contract or
      plan meeting the requirements of Rule 10b5-1 under the Exchange Act (a &#8220;10b5-1 plan&#8221;) for the transfer of shares of Common Stock, provided that such 10b5-1 plan does not provide for the sale of Common Stock during the Restricted Period and, provided
      further, that no filing by any party under the Exchange Act, or other public announcement regarding the establishment of such plan, shall be required or shall be voluntarily made by or on behalf of the undersigned or the Company during the Restricted
      Period, (B) the transfer or sale of shares of Common Stock pursuant to a 10b5-1 plan that has been entered into by the undersigned prior to the date hereof and a copy of which has been delivered prior to the date hereof to the Representatives,
      provided that any filing required or voluntarily made under the Exchange Act shall note that such transaction was conducted pursuant to a pre-established 10b5-1 plan, or (C) the disposition of shares of Common Stock to the Company for the purpose of
      covering tax liabilities and/or the exercise price in connection with the exercise of options to purchase shares of Common Stock or the vesting of restricted stock units or shares of restricted stock, in each case awarded pursuant to the Company&#8217;s
      existing equity compensation plans, provided that any required filing under the Exchange Act shall clearly indicate the circumstances of such disposition.</div>
    <div><br>
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    <div style="text-indent: 36pt;">In furtherance of the foregoing, the Company, and any duly appointed transfer agent for the registration or transfer of the securities described herein, are hereby authorized to decline to make any transfer of securities
      if such transfer would constitute a violation or breach of this Letter Agreement.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Letter Agreement.&#160; All authority herein conferred or agreed to be conferred and any obligations of the
      undersigned shall be binding upon the successors, assigns, heirs or personal representatives of the undersigned.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The undersigned understands that, if the Underwriting Agreement does not become effective, or if the Underwriting Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated
      prior to payment for and delivery of the Common Stock to be sold thereunder, the undersigned shall be released from all obligations under this Letter Agreement.&#160; The undersigned understands that the Underwriters are entering into the Underwriting
      Agreement and proceeding with the Public Offering in reliance upon this Letter Agreement.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">This Letter Agreement and any claim, controversy or dispute arising under or related to this Letter Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the
      conflict of laws principles thereof.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">[Signature Page Immediately Follows]</div>
    <div style="text-align: center; font-weight: bold;"> <br>
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              <div>&#160;</div>
            </td>
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              <div>&#160;Very truly yours,</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
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              <div>&#160;</div>
            </td>
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              <div>&#160;</div>
            </td>
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              <div>&#160;</div>
            </td>
            <td style="width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
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            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div>&#160;Name:<br>
              </div>
            </td>
          </tr>

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    <div style="text-align: center;">Exhibit A</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">BIOCRYST PHARMACEUTICALS, INC.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FORM OF PRE-FUNDED WARRANT TO PURCHASE COMMON STOCK</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: right; text-indent: 36pt;">&#160;Number of Shares: [&#160; &#160; &#160; &#160; &#160;&#160; ]</div>
    <div style="text-align: right;">(subject to adjustment)</div>
    <div><br>
    </div>
    <div>Warrant No. [&#160;&#160; ]</div>
    <div>Original Issue Date: May [&#160;&#160; ], 2020</div>
    <div><br>
    </div>
    <div>BioCryst Pharmaceuticals, Inc., a Delaware corporation (the &#8220;<font style="font-style: italic;">Company</font>&#8221;), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, [&#160; &#160; &#160; ] or
      its permitted registered assigns (the &#8220;<font style="font-style: italic;">Holder</font>&#8221;), is entitled, subject to the terms set forth below, to purchase from the Company up to a total of [&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; ] shares of common stock, $0.01 par value per
      share (the &#8220;<font style="font-style: italic;">Common Stock</font>&#8221;), of the Company (each such share, a &#8220;<font style="font-style: italic;">Warrant Share</font>&#8221; and all such shares, the &#8220;<font style="font-style: italic;">Warrant Shares</font>&#8221;) at an
      exercise price per share equal to $0.01 per share (as adjusted from time to time as provided in <u>Section 9</u> herein, the &#8220;<font style="font-style: italic;">Exercise Price</font>&#8221;), upon surrender of this <font style="font-style: italic;">Warrant


        to Purchase Common Stock</font> (including any <font style="font-style: italic;">Warrants to Purchase Common Stock</font> issued in exchange, transfer or replacement hereof, the &#8220;<font style="font-style: italic;">Warrant</font>&#8221;) at any time and
      from time to time on or after the date hereof (the &#8220;<font style="font-style: italic;">Original Issue Date</font>&#8221;), subject to the following terms and conditions:</div>
    <div><br>
    </div>
    <div>1.&#160; <u>Definitions</u>. For purposes of this Warrant, the following terms shall have the following meanings:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) &#8220;Affiliate&#8221; means any Person directly or indirectly controlled by, controlling or under common control with, a Holder, but only for so long as such control shall continue. For purposes of this definition, &#8220;control&#8221;
      (including, with correlative meanings, &#8220;controlled by&#8221;, &#8220;controlling&#8221; and &#8220;under common control with&#8221;) means, with respect to a Person, possession, direct or indirect, of (a) the power to direct or cause direction of the management and policies of
      such Person (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise), or (b) at least 50% of the voting securities (whether directly or pursuant to any option, warrant or other similar
      arrangement) or other comparable equity interests.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) &#8220;<font style="font-style: italic;">Commission</font>&#8221; means the United States Securities and Exchange Commission.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c) &#8220;<font style="font-style: italic;">Closing Sale Price</font>&#8221; means, for any security as of any date, the last trade price for such security on the Principal Trading Market for such security, as reported by Bloomberg
      Financial Markets, or, if such Principal Trading Market begins to operate on an extended hours basis and does not designate the last trade price, then the last trade price of such security prior to 4:00 P.M., New York City time, as reported by
      Bloomberg Financial Markets, or if the foregoing do not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg Financial Markets, or, if no last trade
      price is reported for such security by Bloomberg Financial Markets, the average of the bid and ask prices, of any market makers for such security as reported in the &#8220;pink sheets&#8221; by Pink Sheets LLC. If the Closing Sale Price cannot be calculated for
      a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree
      upon the fair market value of such security, then the Board of Directors of the Company shall use its good faith judgment to determine the fair market value. The Board of Directors&#8217; determination shall be binding upon all parties absent demonstrable
      error. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d) &#8220;<font style="font-style: italic;">Principal Trading Market</font>&#8221; means the national securities exchange or other trading market on which the Common Stock is primarily listed on and quoted for trading, which, as of
      the Original Issue Date, shall be the Nasdaq Global Select Market.</div>
    <div><br>
    </div>
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    <div style="text-indent: 36pt;">(e) &#8220;<font style="font-style: italic;">Registration Statement</font>&#8221; means the Company&#8217;s Registration Statement on Form S-3 (File No. 333-237820)), as amended, declared effective on May 14, 2020.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(f) &#8220;<font style="font-style: italic;">Securities Act</font>&#8221; means the Securities Act of 1933, as amended.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(g) &#8220;<font style="font-style: italic;">Trading Day</font>&#8221; means any weekday on which the Principal Trading Market is open for trading.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(h) &#8220;<font style="font-style: italic;">Transfer Agent</font>&#8221; means American Stock Transfer &amp; Trust Company, LLC, the Company&#8217;s transfer agent and registrar for the Common Stock, and any successor appointed in such
      capacity.</div>
    <div><br>
    </div>
    <div>2.&#160; <u>Issuance of Securities; Registration of Warrants</u>. The Warrant, as initially issued by the Company, is offered and sold pursuant to the Registration Statement. The Company shall register ownership of this Warrant, upon records to be
      maintained by the Company for that purpose (the &#8220;<font style="font-style: italic;">Warrant Register</font>&#8221;), in the name of the record Holder (which shall include the initial Holder or, as the case may be, any assignee to which this Warrant is
      assigned hereunder) from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent
      actual notice to the contrary.</div>
    <div><br>
    </div>
    <div>3.&#160; <u>Registration of Transfers</u>. Subject to compliance with all applicable securities laws, the Company shall, or will cause its Transfer Agent to, register the transfer of all or any portion of this Warrant in the Warrant Register, upon
      surrender of this Warrant, and payment for all applicable transfer taxes (if any). Upon any such registration or transfer, a new warrant to purchase Common Stock in substantially the form of this Warrant (any such new warrant, a &#8220;<font style="font-style: italic;">New Warrant</font>&#8221;) evidencing the portion of this Warrant so transferred shall be issued to the transferee, and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued
      to the transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and obligations in respect of the New Warrant that the Holder has in respect of this
      Warrant. The Company shall, or will cause its Transfer Agent to, prepare, issue and deliver at the Company&#8217;s own expense any New Warrant under this <u>Section 3</u>. Until due presentment for registration of transfer, the Company may treat the
      registered Holder hereof as the owner and holder for all purposes, and the Company shall not be affected by any notice to the contrary.</div>
    <div><br>
    </div>
    <div>4.&#160; <u>Exercise and Duration of Warrants</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) All or any part of this Warrant shall be exercisable by the registered Holder in any manner permitted by this Warrant at any time and from time to time on or after the Original Issue Date.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) The Holder may exercise this Warrant by delivering (as determined in accordance with the notice provisions hereof) to the Company an exercise notice, in the form attached as <u>Schedule 1</u> hereto (the &#8220;<font style="font-style: italic;">Exercise Notice</font>&#8221;), completed and duly signed.&#160; Within one (1) Trading Day following the date of delivery of the Exercise Notice, the Holder shall make payment of the Exercise Price for the number of Warrant Shares
      as to which this Warrant is being exercised (which may take the form of a &#8220;cashless exercise&#8221; if so indicated in the Exercise Notice pursuant to <u>Section 10</u> below).&#160; The date on which the Notice of Exercise is delivered to the Company (as
      determined in accordance with the notice provisions hereof) is an &#8220;<font style="font-style: italic;">Exercise Date</font>&#8221; provided, that if the Exercise Price is not delivered on or before one (1) Trading Day following the date of delivery of the
      Exercise Notice, the Exercise Date shall be deemed to be one (1) Trading Day following the date of that the Exercise Price is delivered to the Company. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other
      type of guarantee or notarization) of any Notice of Exercise be required.&#160; The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Execution and delivery of the Exercise Notice shall have the same
      effect as cancellation of the original Warrant and issuance of a New Warrant evidencing the right to purchase the remaining number of Warrant Shares, if any.&#160; The aggregate exercise price of this Warrant, except for the Exercise Price, was pre-funded
      to the Company on or before the Original Issue Date, and consequently no additional consideration (other than the Exercise Price) shall be required by to be paid by the Holder to effect any exercise of this Warrant.&#160; The Holder shall not be entitled
      to the return or refund of all, or any portion, of such pre-funded exercise price under any circumstance or for any reason whatsoever.</div>
    <div><br>
    </div>
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    <div>5.&#160; <u>Delivery of Warrant Shares</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) Upon exercise of this Warrant, the Company shall promptly (but in no event later than two (2) Trading Days after the Exercise Date), upon the request of the Holder, credit such aggregate number of shares of Common
      Stock to which the Holder is entitled pursuant to such exercise to the Holder&#8217;s or its designee&#8217;s balance account with The Depository Trust Company (&#8220;<font style="font-style: italic;">DTC</font>&#8221;) through its Deposit / Withdrawal At Custodian system,
      or if the Transfer Agent is not participating in the Fast Automated Securities Transfer Program (the &#8220;<font style="font-style: italic;">FAST Program</font>&#8221;) or if the certificates are required to bear a legend regarding restriction on
      transferability, issue and dispatch by overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the Company&#8217;s share register in the name of the Holder or its designee, for the number of shares of Common Stock
      to which the Holder is entitled pursuant to such exercise. The Holder, or any natural person or legal entity (each, a &#8220;Person&#8221;) so designated by the Holder to receive Warrant Shares, shall be deemed to have become the holder of record of such Warrant
      Shares as of the time of delivery of the Exercise Notice on the Exercise Date, irrespective of the date such Warrant Shares are credited to the Holder&#8217;s DTC account or the date of delivery of the certificates evidencing such Warrant Shares, as the
      case may be.&#160; While this Warrant remains outstanding, the Company shall maintain a transfer agent that participates in the FAST Program.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) If by the close of the fifth (5th) Trading Day after the Exercise Date, the Company fails to deliver to the Holder a certificate representing the required number of Warrant Shares in the manner required pursuant to <u>Section


        5(a)</u> or fails to credit the Holder&#8217;s balance account with DTC for such number of Warrant Shares to which the Holder is entitled, and if after such second (2nd) Trading Day and prior to the receipt of such Warrant Shares, the Holder purchases
      (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a &#8220;<font style="font-style: italic;">Buy-In</font>&#8221;),


      then the Company shall, within two (2) Trading Days after the Holder&#8217;s request and in the Holder&#8217;s sole and absolute discretion, either (1) pay in cash to the Holder an amount equal to the Holder&#8217;s total purchase price (including brokerage
      commissions, if any) for the shares of Common Stock so purchased, at which point the Company&#8217;s obligation to deliver such certificate (and to issue such Warrant Shares) shall terminate or (2) promptly honor its obligation to deliver to the Holder a
      certificate or certificates representing such Warrant Shares and pay cash to the Holder in an amount equal to the excess (if any) of Holder&#8217;s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased
      in the Buy-In over the product of (A) the number of shares of Common Stock purchased in the Buy-In, times (B) the Closing Sale Price of a share of Common Stock on the Exercise Date.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c) To the extent permitted by law and subject to <u>Section 5(b)</u>, the Company&#8217;s obligations to issue and deliver Warrant Shares in accordance with and subject to the terms hereof (including the limitations set
      forth in <u>Section 11</u> below) are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person
      or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of law by
      the Holder or any other Person, and irrespective of any other circumstance that might otherwise limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Subject to <u>Section 5(b)</u>, nothing herein
      shall limit the Holder&#8217;s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company&#8217;s failure to timely
      deliver certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.</div>
    <div><br>
    </div>
    <div>6.&#160; <u>Charges, Taxes and Expenses</u>. Issuance and delivery of certificates for shares of Common Stock upon exercise of this Warrant shall be made without charge to the Holder for any issue or transfer tax, transfer agent fee or other
      incidental tax or expense (excluding any applicable stamp duties) in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; <font style="font-style: italic;">provided, however</font>, that the
      Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the registration of any certificates for Warrant Shares or the Warrants in a name other than that of the Holder or an Affiliate thereof. The
      Holder shall be responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.</div>
    <div><br>
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    <div>7.&#160; <u>Replacement of Warrant</u>. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation hereof, or in lieu of and substitution for this
      Warrant, a New Warrant, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction (in such case) and, in each case, a customary and reasonable indemnity (but not the posting of any surety or other
      bond), if requested by the Company. Applicants for a New Warrant under such circumstances shall also comply with such other reasonable regulations and procedures and pay such other reasonable third party costs as the Company may prescribe.&#160; If a New
      Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated Warrant to the Company as a condition precedent to the Company&#8217;s obligation to issue the New Warrant.</div>
    <div><br>
    </div>
    <div>8.&#160; <u>Reservation of Warrant Shares</u>. The Company covenants that it will, at all times while this Warrant is outstanding, reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common Stock,
      solely for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant as herein provided, the number of Warrant Shares that are initially issuable and deliverable upon the exercise of this entire Warrant, free from preemptive
      rights or any other contingent purchase rights of persons other than the Holder (taking into account the adjustments and restrictions of <u>Section 9</u>). The Company covenants that all Warrant Shares so issuable and deliverable shall, upon
      issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly authorized, issued and fully paid and non-assessable. The Company will take all such action as may be reasonably necessary to assure
      that such shares of Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any securities exchange or automated quotation system upon which the Common Stock may be listed.&#160; The
      Company further covenants that it will not, without the prior written consent of the Holder, take any actions to increase the par value of the Common Stock at any time while this Warrant is outstanding.</div>
    <div><br>
    </div>
    <div>9.&#160; <u>Certain Adjustments</u>. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in this <u>Section 9</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) <u>Stock Dividends and Splits</u>. If the Company, at any time while this Warrant is outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any class of capital stock issued
      and outstanding on the Original Issue Date and in accordance with the terms of such stock on the Original Issue Date or as amended, as described in the Registration Statement, that is payable in shares of Common Stock, (ii) subdivides its outstanding
      shares of Common Stock into a larger number of shares of Common Stock, (iii) combines its outstanding shares of Common Stock into a smaller number of shares of Common Stock or (iv) issues by reclassification of shares of capital stock any additional
      shares of Common Stock of the Company, then in each such case the Exercise Price shall be multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately before such event and the denominator of
      which shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders
      entitled to receive such dividend or distribution, provided, however, that if such record date shall have been fixed and such dividend is not fully paid on the date fixed therefor, the Exercise Price shall be recomputed accordingly as of the close of
      business on such record date and thereafter the Exercise Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends. Any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective
      immediately after the effective date of such subdivision or combination.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) <u>Pro Rata Distributions</u>. If the Company, at any time while this Warrant is outstanding, distributes to all holders of Common Stock for no consideration (i) evidences of its indebtedness, (ii) any security
      (other than a distribution of Common Stock covered by the preceding paragraph) or (iii) rights or warrants to subscribe for or purchase any security, or (iv) cash or any other asset (in each case, &#8220;<font style="font-style: italic;">Distributed
        Property</font>&#8221;), then, upon any exercise of this Warrant that occurs after the record date fixed for determination of stockholders entitled to receive such distribution, the Holder shall be entitled to receive, in addition to the Warrant Shares
      otherwise issuable upon such exercise (if applicable), the Distributed Property that such Holder would have been entitled to receive in respect of such number of Warrant Shares had the Holder been the record holder of such Warrant Shares immediately
      prior to such record date without regard to any limitation on exercise contained therein. The Company covenants that it will, at all times while this Warrant is outstanding, reserve and keep available all Distributed Property that the Holder shall be
      entitled to receive hereunder, solely for the purpose of fulfilling its obligations pursuant to this Section 9(b).</div>
    <div><br>
    </div>
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    </div>
    <div style="text-indent: 36pt;">(c) <u>Fundamental Transactions</u>. If, at any time while this Warrant is outstanding (i) the Company effects any merger or consolidation of the Company with or into another Person, in which the Company is not the
      surviving entity and in which the stockholders of the Company immediately prior to such merger or consolidation do not own, directly or indirectly, at least 50% of the voting power of the surviving entity immediately after such merger or
      consolidation, (ii) the Company effects any sale to another Person of all or substantially all of its assets in one transaction or a series of related transactions, (iii) pursuant to any tender offer or exchange offer (whether by the Company or
      another Person), holders of capital stock tender shares representing more than 50% of the voting power of the capital stock of the Company and the Company or such other Person, as applicable, accepts such tender for payment, (iv) the Company
      consummates a stock purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than the 50% of
      the voting power of the capital stock of the Company (except for any such transaction in which the stockholders of the Company immediately prior to such transaction maintain, in substantially the same proportions, the voting power of such Person
      immediately after the transaction) or (v) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or
      property (other than as a result of a subdivision or combination of shares of Common Stock covered by <u>Section 9(a)</u> above) (in any such case, a &#8220;<font style="font-style: italic;">Fundamental Transaction</font>&#8221;), then following such
      Fundamental Transaction the Holder shall have the right to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction
      if it had been, immediately prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this Warrant without regard to any limitations on exercise contained herein (the &#8220;<font style="font-style: italic;">Alternate Consideration</font>&#8221;). The Company shall not effect any Fundamental Transaction in which the Company is not the surviving entity or the Alternate Consideration includes securities of another Person unless (i)
      the Alternate Consideration is solely cash and the Company provides for the simultaneous &#8220;cashless exercise&#8221; of this Warrant pursuant to <u>Section 10</u> below or (ii) prior to or simultaneously with the consummation thereof, any successor to the
      Company, surviving entity or other Person (including any purchaser of assets of the Company) shall assume the obligation to deliver to the Holder such Alternate Consideration as, in accordance with the foregoing provisions, the Holder may be entitled
      to receive, and the other obligations under this Warrant. The provisions of this paragraph (c) shall similarly apply to subsequent transactions analogous of a Fundamental Transaction type.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d) <u>Number of Warrant Shares</u>. Simultaneously with any adjustment to the Exercise Price pursuant to <u>Section 9</u>, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be
      increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior
      to such adjustment.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(e) <u>Calculations</u>. All calculations under this <u>Section 9</u> shall be made to the nearest one-tenth of one cent or the nearest share, as applicable.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(f) <u>Notice of Adjustments</u>. Upon the occurrence of each adjustment pursuant to this <u>Section 9</u>, the Company at its expense will, at the written request of the Holder, promptly compute such adjustment, in
      good faith, in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price and adjusted number or type of Warrant Shares or other securities issuable upon
      exercise of this Warrant (as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon which such adjustment is based. Upon written request, the Company will promptly deliver a copy of each such
      certificate to the Holder and to the Company&#8217;s transfer agent.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(g) <u>Notice of Corporate Events</u>. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other distribution of cash, securities or other property in respect of its Common Stock,
      including, without limitation, any granting of rights or warrants to subscribe for or purchase any capital stock of the Company or any subsidiary, (ii) authorizes or approves, enters into any agreement contemplating or solicits stockholder approval
      for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or winding up of the affairs of the Company, then, except if such notice and the contents thereof shall be deemed to constitute material non-public
      information, the Company shall deliver to the Holder a notice of such transaction at least ten (10) days prior to the applicable record or effective date on which a Person would need to hold Common Stock in order to participate in or vote with
      respect to such transaction; <font style="font-style: italic;">provided, however</font>, that the failure to deliver such notice or any defect therein shall not affect the validity of the corporate action required to be described in such notice. In
      the event such notice and the contents thereof shall be deemed to constitute material non-public information, the Company shall (on the same time frame set forth in the immediately prior sentence) offer the Holder the ability to sign a
      confidentiality agreement related thereto sufficient to allow the Holder to receive such notice, and the Company shall deliver such notice immediately upon execution of such confidentiality agreement.&#160; In addition, if while this Warrant is
      outstanding, the Company authorizes or approves, enters into any agreement contemplating or solicits stockholder approval for any Fundamental Transaction contemplated by <u>Section 9(c)</u>, other than a Fundamental Transaction under clause <u>(iii)</u>
      of <u>Section 9(c)</u>, the Company shall deliver to the Holder a notice of such Fundamental Transaction at least thirty (30) days prior to the date such Fundamental Transaction is consummated. Holder agrees to maintain any information disclosed
      pursuant to this <u>Section 9(g)</u> in confidence until such information is publicly available, and shall comply with applicable law with respect to trading in the Company&#8217;s securities following receipt any such information.</div>
    <div><br>
    </div>
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    <div>10.&#160; <u>Payment of Exercise Price</u>. Notwithstanding anything contained herein to the contrary, the Holder may, in its sole discretion, satisfy its obligation to pay the Exercise Price through a &#8220;cashless exercise&#8221;, in which event the Company
      shall issue to the Holder the number of Warrant Shares determined as follows:</div>
    <div><br>
    </div>
    <div style="text-align: center;">X = Y [(A-B)/A]</div>
    <div><br>
    </div>
    <div>where:</div>
    <div><br>
    </div>
    <div>&#8220;X&#8221; equals the number of Warrant Shares to be issued to the Holder;</div>
    <div><br>
    </div>
    <div>&#8220;Y&#8221; equals the total number of Warrant Shares with respect to which this Warrant is then being exercised;</div>
    <div><br>
    </div>
    <div>&#8220;A&#8221; equals&#160; (i) the last Closing Sale Price of the shares of Common Stock (as reported by Bloomberg Financial Markets) on the Trading Day immediately preceding the Exercise Date if the Exercise Notice is delivered prior to market close on the
      Exercise Date, or (ii) the last Closing Sale Price of the shares of Common Stock (as reported by Bloomberg Financial Markets) on the Exercise Date if the Exercise Notice is delivered following market close on the Exercise Date; and</div>
    <div><br>
    </div>
    <div>&#8220;B&#8221; equals the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.</div>
    <div><br>
    </div>
    <div>For purposes of Rule 144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a &#8220;cashless exercise&#8221; transaction shall be deemed to have been acquired by the Holder, the Warrant Shares
      shall take on the registered characteristics of the Warrants being exercised, and the holding period for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued (provided that the Commission continues to
      take the position that such treatment is proper at the time of such exercise). In the event that the Registration Statement or another registration statement registering the issuance of Warrant Shares is, for any reason, not effective at the time of
      exercise of this Warrant, then the Warrant may only be exercised through a cashless exercise, as set forth in this <u>Section 10</u>. Except as set forth in <u>Section 5(b)</u> (Buy-In remedy) and <u>Section 12</u> (payment of cash in lieu of
      fractional shares), in no event will the exercise of this Warrant be settled in cash.</div>
    <div><br>
    </div>
    <div>11.&#160; <u>Limitations on Exercise</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding anything to the contrary contained herein, the Company shall not effect any exercise of this Warrant, and the Holder shall not be entitled to exercise this Warrant for a number of Warrant
      Shares in excess of that number of Warrant Shares which, upon giving effect or immediately prior to such exercise, would cause (i) the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and any other
      Persons whose beneficial ownership of Common Stock would be aggregated with the Holder&#8217;s for purposes of Section 13(d) of the Exchange Act, to exceed 9.99% (the &#8220;Maximum Percentage&#8221;) of the total number of issued and outstanding shares of Common
      Stock of the Company following such exercise, or (ii) the combined voting power of the securities of the Company beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated
      with the Holder&#8217;s for purposes of Section 13(d) of the Exchange Act to exceed 9.99% of the combined voting power of all of the securities of the Company then outstanding following such exercise. For purposes of this Warrant, in determining the number
      of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the Company&#8217;s most recent Form 10-Q or Form 10-K, as the case may be, filed with the Commission prior to the date
      hereof, (y) a more recent public announcement by the Company or (z) any other notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written request of the Holder, the Company shall within
      three (3) Trading Days confirm in writing or by electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the
      conversion or exercise of securities of the Company, including this Warrant, by the Holder since the date as of which such number of outstanding shares of Common Stock was reported. By written notice to the Company, the Holder may from time to time
      increase or decrease the Maximum Percentage to any other percentage not in excess of 19.99% specified in such notice; provided that any such increase will not be effective until the sixty-first (61st) day after such notice is delivered to the
      Company. For purposes of this <u>Section 11(a)</u>, the aggregate number of shares of Common Stock or voting securities beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be
      aggregated with the Holder&#8217;s for purposes of Section 13(d) of the Exchange Act shall include the shares of Common Stock issuable upon the exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of
      shares of Common Stock which would be issuable upon (x) exercise of the remaining unexercised and non-cancelled portion of this Warrant by the Holder and (y) exercise or conversion of the unexercised, non-converted or non-cancelled portion of any
      other securities of the Company that do not have voting power (including without limitation any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including without limitation any debt, preferred
      stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock), is subject to a limitation on conversion or exercise
      analogous to the limitation contained herein and is beneficially owned by the Holder or any of its Affiliates and other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder&#8217;s for purposes of Section 13(d) of the
      Exchange Act.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This <u>Section 11</u> shall not restrict the number of shares of Common Stock which a Holder may receive or beneficially own in order to determine the amount of securities or other consideration that such
      Holder may receive in the event of a Fundamental Transaction as contemplated in <u>Section 9(c)</u> of this Warrant.</div>
    <div><br>
    </div>
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    <div>12.&#160; <u>No Fractional Shares</u>. No fractional Warrant Shares will be issued in connection with any exercise of this Warrant. In lieu of any fractional shares that would otherwise be issuable, the number of Warrant Shares to be issued shall be
      rounded down to the next whole number and the Company shall pay the Holder in cash the fair market value (based on the Closing Sale Price) for any such fractional shares.</div>
    <div><br>
    </div>
    <div>13.&#160; <u>Notices</u>. Any and all notices or other communications or deliveries hereunder (including, without limitation, any Exercise Notice) shall be in writing and shall be deemed given and effective on the earliest of (i) the time of
      transmission, if such notice or communication is delivered via facsimile or e-mail at the facsimile number or e-mail address specified in the books and records of the Transfer Agent prior to 5:30 P.M., New York City time, on a Trading Day so long as
      the sender of an e-mail has not received an automated notice of delivery failure from the proposed recipient's computer server, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile or
      e-mail at the facsimile number or e-mail address specified in the books and records of the Transfer Agent on a day that is not a Trading Day or later than 5:30 P.M., New York City time, on any Trading Day so long as the sender of an e-mail has not
      received an automated notice of delivery failure from the proposed recipient's computer server, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service specifying next business day delivery, or
      (iv) upon actual receipt by the Person to whom such notice is required to be given, if by hand delivery.&#160; To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any
      subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.</div>
    <div><br>
    </div>
    <div>14.&#160; <u>Warrant Agent</u>. The Company shall initially serve as warrant agent under this Warrant. Upon thirty (30) days&#8217; notice to the Holder, the Company may appoint a new warrant agent. Any corporation into which the Company or any new warrant
      agent may be merged or any corporation resulting from any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any new warrant agent transfers substantially all of its corporate trust
      or shareholders services business shall be a successor warrant agent under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant agent to be mailed (by first class mail,
      postage prepaid) to the Holder at the Holder&#8217;s last address as shown on the Warrant Register. Notwithstanding anything to the contrary contained herein or in any warrant agency agreement that the Company may enter into in the future, the Holder shall
      be entitled to elect to receive, or continue to hold, this Warrant in certificated form, in which case the terms set forth in any such warrant agency agreement shall not apply to this Warrant.</div>
    <div><br>
    </div>
    <div>15.&#160; <u>Miscellaneous</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) <u>No Rights as a Stockholder</u>. The Holder, solely in such Person&#8217;s capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company
      for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in such Person&#8217;s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or
      withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, amalgamation, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or
      otherwise, prior to the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on
      the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) <u>Authorized Shares</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(i) Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate or articles of incorporation or
      through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all
      times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality
      of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (b) take all such action as may be necessary or appropriate
      in order that the Company may validly and legally issue fully paid and non-assessable Warrant Shares upon the exercise of this Warrant, and (c) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any
      public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this Warrant.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(ii) Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such
      authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c) <u>Successors and Assigns</u>. Subject to the restrictions on transfer set forth in this Warrant and compliance with applicable securities laws, this Warrant may be assigned by the Holder. This Warrant may not be
      assigned by the Company without the written consent of the Holder, except to a successor in the event of a Fundamental Transaction. This Warrant shall be binding on and inure to the benefit of the Company and the Holder and their respective
      successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall be construed to give to any Person other than the Company and the Holder any legal or equitable right, remedy or cause of action under this Warrant. This Warrant
      may be amended only in writing signed by the Company and the Holder, or their successors and assigns.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d) <u>Amendment and Waiver</u>. Except as otherwise provided herein, the provisions of the Warrants may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be
      performed by it, only if the Company has obtained the written consent of the Holders of Warrants representing no less than a majority of the Warrant Shares obtainable upon exercise of the Warrants then outstanding.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(e) <u>Acceptance</u>. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.</div>
    <div><br>
    </div>
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    <div style="text-indent: 36pt;">(f) <u>Governing Law; Jurisdiction</u>. ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF
      THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH
      OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR WITH ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS), AND HEREBY
      IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF
      PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PERSON AT THE ADDRESS IN EFFECT FOR NOTICES TO IT
      AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. EACH OF THE COMPANY AND
      THE HOLDER HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(g) <u>Headings</u>. The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any of the provisions hereof.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(h) <u>Severability</u>. In case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Warrant
      shall not in any way be affected or impaired thereby, and the Company and the Holder will attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor, and upon so agreeing, shall
      incorporate such substitute provision in this Warrant.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(i) <u>Interpretation</u>. For purposes of this Warrant, (a) the words &#8220;include,&#8221; &#8220;includes&#8221; and &#8220;including&#8221; are deemed to be followed by the words &#8220;without limitation&#8221;; (b) the word &#8220;or&#8221; is not exclusive; and (c) the
      words &#8220;herein,&#8221; &#8220;hereof, &#8220;hereby,&#8221; &#8220;hereto&#8221; and &#8220;hereunder&#8221; refer to this Warrant as a whole. Unless the context otherwise requires, references herein: (x) to sections and schedules mean the sections of, and schedules attached to, this Warrant; (y)
      to an agreement, instrument, or other document means such agreement, instrument, or other document (as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof/without regard to subsequent amendments,
      supplements, and modifications thereto); and (z) to a statute means such statute (as amended from time to time and includes/enforced at the time and date of this Warrant becoming effective) and does not include any successor legislation thereto and
      any regulations promulgated thereunder. This Warrant shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The schedules
      referred to herein shall be construed with, and as an integral part of, this Warrant to the same extent as if they were set forth verbatim herein. All references to &#8220;$&#8221; or &#8220;dollars&#8221; mean the lawful currency of the United States of America. Whenever
      the singular is used in this Warrant, the same shall include the plural, and whenever the plural is used herein, the same shall include the singular, where appropriate.</div>
    <div><br>
    </div>
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    <div><br>
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    <div>IN WITNESS WHEREOF, the undersigned has caused this Warrant to be duly executed by its authorized officer as of the date first indicated above.</div>
    <div><br>
    </div>
    <div> <br>
    </div>
    <div>
      <table id="z0fc76ad02a1a44bd9497b6574fd30bf6" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="width: 10%;">
              <div>
                <div style="text-align: left; font-weight: bold;">COMPANY:</div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="width: 10%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="width: 10%;">
              <div>&#160;BIOCRYST PHARMACEUTICALS, INC.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="width: 10%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; padding-bottom: 2px;">
              <div>&#160;By:</div>
            </td>
            <td style="width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;Name:</div>
            </td>
            <td style="width: 40%;">
              <div>Alane Barnes<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;Title:</div>
            </td>
            <td style="width: 40%;">
              <div>
                <div style="text-align: left;">Senior Vice President and Chief Legal Officer</div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div>&#160;</div>
            </td>
          </tr>

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    <div><br>
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    </div>
    <div style="text-align: center;"><u>SCHEDULE 1</u></div>
    <div><br>
    </div>
    <div style="text-align: center;">FORM OF EXERCISE NOTICE</div>
    <div><br>
    </div>
    <div style="text-align: center;">[To be executed by the Holder to purchase shares of Common Stock under the Warrant]</div>
    <div><br>
    </div>
    <div>Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div>(1) The undersigned is the Holder of Warrant No. __ (the &#8220;<font style="font-style: italic;">Warrant</font>&#8221;) issued by BioCryst Pharmaceuticals, Inc., a Delaware corporation (the &#8220;<font style="font-style: italic;">Company</font>&#8221;). Capitalized
      terms used herein and not otherwise defined herein have the respective meanings set forth in the Warrant.</div>
    <div><br>
    </div>
    <div>(2) The undersigned hereby exercises its right to purchase Warrant Shares pursuant to the Warrant.</div>
    <div><br>
    </div>
    <div>(3) The Holder intends that payment of the Exercise Price shall be made as (check one):</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zdd4a474a0bc946e0a3c751f68f20ff7e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 4.01%; vertical-align: middle;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
            <div>&#9744;</div>
          </td>
          <td style="width: 92%; vertical-align: top;">
            <div>Cash Exercise</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5844a155a5524b86bd381286a795f187" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 4.01%; vertical-align: middle;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
            <div>&#9744;</div>
          </td>
          <td style="width: 92%; vertical-align: top;">
            <div>&#8220;Cashless Exercise&#8221; under <u>Section 10</u> of the Warrant</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div>(4) If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $ in immediately available funds to the Company in accordance with the terms of the Warrant.</div>
    <div><br>
    </div>
    <div>(5) Pursuant to this Exercise Notice, the Company shall deliver to the Holder Warrant Shares determined in accordance with the terms of the Warrant.</div>
    <div><br>
    </div>
    <div>(6) By its delivery of this Exercise Notice, the undersigned represents and warrants to the Company that in giving effect to the exercise evidenced hereby the Holder will not beneficially own in excess of the number of shares of Common Stock (as
      determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended) permitted to be owned under <u>Section 11(a)</u> of the Warrant to which this notice relates.</div>
    <div><br>
    </div>
    <div> <br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3791a395db54470cba2941aa91bb5b32" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 15%; vertical-align: middle;">&#160;</td>
          <td style="width: 40%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>Dated:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>Name of Holder:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>By:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>Name:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>Title:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>

    </table>
    <div>(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)</div>
    <div> <br>
      <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>3
<FILENAME>nt10011234x7_ex4-1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
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  <div>
    <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
      <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
    <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> Exhibit 4.1<br>
    </div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">BIOCRYST PHARMACEUTICALS, INC.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FORM OF PRE-FUNDED WARRANT TO PURCHASE COMMON STOCK</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: right; text-indent: 36pt;">&#160;Number of Shares: [&#160; &#160; &#160; &#160; &#160;&#160; ]</div>
    <div style="text-align: right;">(subject to adjustment)</div>
    <div><br>
    </div>
    <div>Warrant No. [&#160;&#160; ]</div>
    <div>Original Issue Date: May [&#160;&#160; ], 2020</div>
    <div><br>
    </div>
    <div>BioCryst Pharmaceuticals, Inc., a Delaware corporation (the &#8220;<font style="font-style: italic;">Company</font>&#8221;),
      hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, [Baker Brothers Life Sciences, L.P.][667, L.P.] or its permitted registered assigns (the &#8220;<font style="font-style: italic;">Holder</font>&#8221;), is entitled, subject to the terms set forth below, to purchase from the Company up to a total of [&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; ] shares of common stock, $0.01 par value per
      share (the &#8220;<font style="font-style: italic;">Common Stock</font>&#8221;), of the Company (each such share, a &#8220;<font style="font-style: italic;">Warrant Share</font>&#8221; and all such shares, the &#8220;<font style="font-style: italic;">Warrant Shares</font>&#8221;) at an exercise price per share equal to $0.01 per share
      (as adjusted from time to time as provided in <u>Section 9</u> herein, the &#8220;<font style="font-style: italic;">Exercise Price</font>&#8221;), upon surrender of this <font style="font-style: italic;">Warrant to Purchase Common Stock</font> (including any <font style="font-style: italic;">Warrants to Purchase Common Stock</font> issued in exchange, transfer or replacement hereof, the &#8220;<font style="font-style: italic;">Warrant</font>&#8221;) at any time and from time to time on or after the date hereof (the &#8220;<font style="font-style: italic;">Original Issue Date</font>&#8221;), subject to the
      following terms and conditions:</div>
    <div><br>
    </div>
    <div>1.&#160; <u>Definitions</u>. For purposes of this Warrant, the following terms
      shall have the following meanings:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) &#8220;Affiliate&#8221; means any Person directly or indirectly controlled by, controlling or under common control with, a Holder, but only for so
      long as such control shall continue. For purposes of this definition, &#8220;control&#8221; (including, with correlative meanings, &#8220;controlled by&#8221;, &#8220;controlling&#8221; and &#8220;under common control with&#8221;) means, with respect to a Person, possession, direct or indirect, of
      (a) the power to direct or cause direction of the management and policies of such Person (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise), or (b) at least 50% of the voting securities
      (whether directly or pursuant to any option, warrant or other similar arrangement) or other comparable equity interests.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) &#8220;<font style="font-style: italic;">Commission</font>&#8221; means the United
      States Securities and Exchange Commission.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c) &#8220;<font style="font-style: italic;">Closing Sale Price</font>&#8221; means, for
      any security as of any date, the last trade price for such security on the Principal Trading Market for such security, as reported by Bloomberg Financial Markets, or, if such Principal Trading Market begins to operate on an extended hours basis and
      does not designate the last trade price, then the last trade price of such security prior to 4:00 P.M., New York City time, as reported by Bloomberg Financial Markets, or if the foregoing do not apply, the last trade price of such security in the
      over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg Financial Markets, or, if no last trade price is reported for such security by Bloomberg Financial Markets, the average of the bid and ask prices, of
      any market makers for such security as reported in the &#8220;pink sheets&#8221; by Pink Sheets LLC. If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such
      date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then the Board of Directors of the Company shall use its good
      faith judgment to determine the fair market value. The Board of Directors&#8217; determination shall be binding upon all parties absent demonstrable error. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock
      combination or other similar transaction during the applicable calculation period.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d) &#8220;<font style="font-style: italic;">Principal Trading Market</font>&#8221;
      means the national securities exchange or other trading market on which the Common Stock is primarily listed on and quoted for trading, which, as of the Original Issue Date, shall be the Nasdaq Global Select Market.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(e) &#8220;<font style="font-style: italic;">Registration Statement</font>&#8221; means
      the Company&#8217;s Registration Statement on Form S-3 (File No. 333-237820)), as amended, declared effective on May 14, 2020.</div>
    <div><br>
    </div>
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    </div>
    <div style="text-indent: 36pt;">(f) &#8220;<font style="font-style: italic;">Securities Act</font>&#8221; means the
      Securities Act of 1933, as amended.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(g) &#8220;<font style="font-style: italic;">Trading Day</font>&#8221; means any weekday
      on which the Principal Trading Market is open for trading.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(h) &#8220;<font style="font-style: italic;">Transfer Agent</font>&#8221; means American
      Stock Transfer &amp; Trust Company, LLC, the Company&#8217;s transfer agent and registrar for the Common Stock, and any successor appointed in such capacity.</div>
    <div><br>
    </div>
    <div>2.&#160; <u>Issuance of Securities; Registration of Warrants</u>. The Warrant,
      as initially issued by the Company, is offered and sold pursuant to the Registration Statement. The Company shall register ownership of this Warrant, upon records to be maintained by the Company for that purpose (the &#8220;<font style="font-style: italic;">Warrant Register</font>&#8221;), in the name of the record Holder (which shall include the initial Holder or, as the case may be, any assignee to which this Warrant is assigned hereunder)
      from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the
      contrary.</div>
    <div><br>
    </div>
    <div>3.&#160; <u>Registration of Transfers</u>. Subject to compliance with all
      applicable securities laws, the Company shall, or will cause its Transfer Agent to, register the transfer of all or any portion of this Warrant in the Warrant Register, upon surrender of this Warrant, and payment for all applicable transfer taxes (if
      any). Upon any such registration or transfer, a new warrant to purchase Common Stock in substantially the form of this Warrant (any such new warrant, a &#8220;<font style="font-style: italic;">New
        Warrant</font>&#8221;) evidencing the portion of this Warrant so transferred shall be issued to the transferee, and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to the transferring Holder. The
      acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and obligations in respect of the New Warrant that the Holder has in respect of this Warrant. The Company shall, or will
      cause its Transfer Agent to, prepare, issue and deliver at the Company&#8217;s own expense any New Warrant under this <u>Section 3</u>. Until due presentment for
      registration of transfer, the Company may treat the registered Holder hereof as the owner and holder for all purposes, and the Company shall not be affected by any notice to the contrary.</div>
    <div><br>
    </div>
    <div>4.&#160; <u>Exercise and Duration of Warrants</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) All or any part of this Warrant shall be exercisable by the registered Holder in any manner permitted by this Warrant at any time and
      from time to time on or after the Original Issue Date.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) The Holder may exercise this Warrant by delivering (as determined in accordance with the notice provisions hereof) to the Company an
      exercise notice, in the form attached as <u>Schedule 1</u> hereto (the &#8220;<font style="font-style: italic;">Exercise Notice</font>&#8221;), completed and duly signed.&#160; Within one (1) Trading Day following the date of delivery of the Exercise Notice, the Holder shall make payment of the Exercise Price for the number of Warrant Shares as to which this
      Warrant is being exercised (which may take the form of a &#8220;cashless exercise&#8221; if so indicated in the Exercise Notice pursuant to <u>Section 10</u> below).&#160; The date
      on which the Notice of Exercise is delivered to the Company (as determined in accordance with the notice provisions hereof) is an &#8220;<font style="font-style: italic;">Exercise Date</font>&#8221;
      provided, that if the Exercise Price is not delivered on or before one (1) Trading Day following the date of delivery of the Exercise Notice, the Exercise Date shall be deemed to be one (1) Trading Day following the date of that the Exercise Price is
      delivered to the Company. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required.&#160; The Holder shall not be required to deliver the
      original Warrant in order to effect an exercise hereunder. Execution and delivery of the Exercise Notice shall have the same effect as cancellation of the original Warrant and issuance of a New Warrant evidencing the right to purchase the remaining
      number of Warrant Shares, if any.&#160; The aggregate exercise price of this Warrant, except for the Exercise Price, was pre-funded to the Company on or before the Original Issue Date, and consequently no additional consideration (other than the Exercise
      Price) shall be required by to be paid by the Holder to effect any exercise of this Warrant.&#160; The Holder shall not be entitled to the return or refund of all, or any portion, of such pre-funded exercise price under any circumstance or for any reason
      whatsoever.</div>
    <div><br>
    </div>
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    </div>
    <div>5.&#160; <u>Delivery of Warrant Shares</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) Upon exercise of this Warrant, the Company shall promptly (but in no event later than two (2) Trading Days after the Exercise Date),
      upon the request of the Holder, credit such aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder&#8217;s or its designee&#8217;s balance account with The Depository Trust Company (&#8220;<font style="font-style: italic;">DTC</font>&#8221;) through its Deposit / Withdrawal At Custodian system, or if the Transfer Agent is not participating in the Fast Automated Securities Transfer
      Program (the &#8220;<font style="font-style: italic;">FAST Program</font>&#8221;) or if the certificates are required to bear a legend regarding restriction on transferability, issue and dispatch by
      overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the Company&#8217;s share register in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled
      pursuant to such exercise. The Holder, or any natural person or legal entity (each, a &#8220;Person&#8221;) so designated by the Holder to receive Warrant Shares, shall be deemed to have become the holder of record of such Warrant Shares as of the time of
      delivery of the Exercise Notice on the Exercise Date, irrespective of the date such Warrant Shares are credited to the Holder&#8217;s DTC account or the date of delivery of the certificates evidencing such Warrant Shares, as the case may be.&#160; While this
      Warrant remains outstanding, the Company shall maintain a transfer agent that participates in the FAST Program.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) If by the close of the fifth (5th) Trading Day after the Exercise Date, the Company fails to deliver to the Holder a certificate
      representing the required number of Warrant Shares in the manner required pursuant to <u>Section 5(a)</u> or fails to credit the Holder&#8217;s balance account with DTC
      for such number of Warrant Shares to which the Holder is entitled, and if after such second (2nd) Trading Day and prior to the receipt of such Warrant Shares, the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to
      deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a &#8220;<font style="font-style: italic;">Buy-In</font>&#8221;), then
      the Company shall, within two (2) Trading Days after the Holder&#8217;s request and in the Holder&#8217;s sole and absolute discretion, either (1) pay in cash to the Holder an amount equal to the Holder&#8217;s total purchase price (including brokerage commissions, if
      any) for the shares of Common Stock so purchased, at which point the Company&#8217;s obligation to deliver such certificate (and to issue such Warrant Shares) shall terminate or (2) promptly honor its obligation to deliver to the Holder a certificate or
      certificates representing such Warrant Shares and pay cash to the Holder in an amount equal to the excess (if any) of Holder&#8217;s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased in the Buy-In
      over the product of (A) the number of shares of Common Stock purchased in the Buy-In, times (B) the Closing Sale Price of a share of Common Stock on the Exercise Date.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c) To the extent permitted by law and subject to <u>Section
          5(b)</u>, the Company&#8217;s obligations to issue and deliver Warrant Shares in accordance with and subject to the terms hereof (including the limitations set forth in <u>Section 11</u> below) are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any
      Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of
      law by the Holder or any other Person, and irrespective of any other circumstance that might otherwise limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Subject to <u>Section 5(b)</u>, nothing herein shall limit the Holder&#8217;s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific
      performance and/or injunctive relief with respect to the Company&#8217;s failure to timely deliver certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.</div>
    <div><br>
    </div>
    <div>6.&#160; <u>Charges, Taxes and Expenses</u>. Issuance and delivery of
      certificates for shares of Common Stock upon exercise of this Warrant shall be made without charge to the Holder for any issue or transfer tax, transfer agent fee or other incidental tax or expense (excluding any applicable stamp duties) in respect
      of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; <font style="font-style: italic;">provided, however</font>, that the Company shall not
      be required to pay any tax that may be payable in respect of any transfer involved in the registration of any certificates for Warrant Shares or the Warrants in a name other than that of the Holder or an Affiliate thereof. The Holder shall be
      responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.</div>
    <div><br>
    </div>
    <div>7.&#160; <u>Replacement of Warrant</u>. If this Warrant is mutilated, lost,
      stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon receipt of evidence reasonably
      satisfactory to the Company of such loss, theft or destruction (in such case) and, in each case, a customary and reasonable indemnity (but not the posting of any surety or other bond), if requested by the Company. Applicants for a New Warrant under
      such circumstances shall also comply with such other reasonable regulations and procedures and pay such other reasonable third party costs as the Company may prescribe.&#160; If a New Warrant is requested as a result of a mutilation of this Warrant, then
      the Holder shall deliver such mutilated Warrant to the Company as a condition precedent to the Company&#8217;s obligation to issue the New Warrant.</div>
    <div><br>
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    <div>8.&#160; <u>Reservation of Warrant Shares</u>. The Company covenants that it
      will, at all times while this Warrant is outstanding, reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of
      this Warrant as herein provided, the number of Warrant Shares that are initially issuable and deliverable upon the exercise of this entire Warrant, free from preemptive rights or any other contingent purchase rights of persons other than the Holder
      (taking into account the adjustments and restrictions of <u>Section 9</u>). The Company covenants that all Warrant Shares so issuable and deliverable shall, upon
      issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly authorized, issued and fully paid and non-assessable. The Company will take all such action as may be reasonably necessary to assure
      that such shares of Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any securities exchange or automated quotation system upon which the Common Stock may be listed.&#160; The
      Company further covenants that it will not, without the prior written consent of the Holder, take any actions to increase the par value of the Common Stock at any time while this Warrant is outstanding.</div>
    <div><br>
    </div>
    <div>9.&#160; <u>Certain Adjustments</u>. The Exercise Price and number of Warrant
      Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in this <u>Section 9</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) <u>Stock Dividends and Splits</u>. If the Company,
      at any time while this Warrant is outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any class of capital stock issued and outstanding on the Original Issue Date and in accordance with the terms of such
      stock on the Original Issue Date or as amended, as described in the Registration Statement, that is payable in shares of Common Stock, (ii) subdivides its outstanding shares of Common Stock into a larger number of shares of Common Stock, (iii)
      combines its outstanding shares of Common Stock into a smaller number of shares of Common Stock or (iv) issues by reclassification of shares of capital stock any additional shares of Common Stock of the Company, then in each such case the Exercise
      Price shall be multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately before such event and the denominator of which shall be the number of shares of Common Stock outstanding immediately
      after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, provided, however, that
      if such record date shall have been fixed and such dividend is not fully paid on the date fixed therefor, the Exercise Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Exercise Price shall be
      adjusted pursuant to this paragraph as of the time of actual payment of such dividends. Any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) <u>Pro Rata Distributions</u>. If the Company, at
      any time while this Warrant is outstanding, distributes to all holders of Common Stock for no consideration (i) evidences of its indebtedness, (ii) any security (other than a distribution of Common Stock covered by the preceding paragraph) or (iii)
      rights or warrants to subscribe for or purchase any security, or (iv) cash or any other asset (in each case, &#8220;<font style="font-style: italic;">Distributed Property</font>&#8221;), then, upon
      any exercise of this Warrant that occurs after the record date fixed for determination of stockholders entitled to receive such distribution, the Holder shall be entitled to receive, in addition to the Warrant Shares otherwise issuable upon such
      exercise (if applicable), the Distributed Property that such Holder would have been entitled to receive in respect of such number of Warrant Shares had the Holder been the record holder of such Warrant Shares immediately prior to such record date
      without regard to any limitation on exercise contained therein. The Company covenants that it will, at all times while this Warrant is outstanding, reserve and keep available all Distributed Property that the Holder shall be entitled to receive
      hereunder, solely for the purpose of fulfilling its obligations pursuant to this Section 9(b).</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(c) <u>Fundamental Transactions</u>. If, at any time
      while this Warrant is outstanding (i) the Company effects any merger or consolidation of the Company with or into another Person, in which the Company is not the surviving entity and in which the stockholders of the Company immediately prior to such
      merger or consolidation do not own, directly or indirectly, at least 50% of the voting power of the surviving entity immediately after such merger or consolidation, (ii) the Company effects any sale to another Person of all or substantially all of
      its assets in one transaction or a series of related transactions, (iii) pursuant to any tender offer or exchange offer (whether by the Company or another Person), holders of capital stock tender shares representing more than 50% of the voting power
      of the capital stock of the Company and the Company or such other Person, as applicable, accepts such tender for payment, (iv) the Company consummates a stock purchase agreement or other business combination (including, without limitation, a
      reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than the 50% of the voting power of the capital stock of the Company (except for any such transaction in which the
      stockholders of the Company immediately prior to such transaction maintain, in substantially the same proportions, the voting power of such Person immediately after the transaction) or (v) the Company effects any reclassification of the Common Stock
      or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common Stock covered by <u>Section 9(a)</u> above) (in any such case, a &#8220;<font style="font-style: italic;">Fundamental Transaction</font>&#8221;),
      then following such Fundamental Transaction the Holder shall have the right to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property as it would have been entitled to receive upon the occurrence of such
      Fundamental Transaction if it had been, immediately prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this Warrant without regard to any limitations on exercise contained herein
      (the &#8220;<font style="font-style: italic;">Alternate Consideration</font>&#8221;). The Company shall not effect any Fundamental Transaction in which the Company is not the surviving entity or the
      Alternate Consideration includes securities of another Person unless (i) the Alternate Consideration is solely cash and the Company provides for the simultaneous &#8220;cashless exercise&#8221; of this Warrant pursuant to <u>Section 10</u> below or (ii) prior to or simultaneously with the consummation thereof, any successor to the Company, surviving entity or other Person (including any purchaser of assets of the
      Company) shall assume the obligation to deliver to the Holder such Alternate Consideration as, in accordance with the foregoing provisions, the Holder may be entitled to receive, and the other obligations under this Warrant. The provisions of this
      paragraph (c) shall similarly apply to subsequent transactions analogous of a Fundamental Transaction type.</div>
    <div><br>
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    <div style="text-indent: 36pt;">(d) <u>Number of Warrant Shares</u>. Simultaneously
      with any adjustment to the Exercise Price pursuant to <u>Section 9</u>, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be
      increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior
      to such adjustment.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(e) <u>Calculations</u>. All calculations under this <u>Section 9</u> shall be made to the nearest one-tenth of one cent or the nearest share, as applicable.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(f) <u>Notice of Adjustments</u>. Upon the occurrence
      of each adjustment pursuant to this <u>Section 9</u>, the Company at its expense will, at the written request of the Holder, promptly compute such adjustment, in
      good faith, in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price and adjusted number or type of Warrant Shares or other securities issuable upon
      exercise of this Warrant (as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon which such adjustment is based. Upon written request, the Company will promptly deliver a copy of each such
      certificate to the Holder and to the Company&#8217;s transfer agent.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(g) <u>Notice of Corporate Events</u>. If, while this
      Warrant is outstanding, the Company (i) declares a dividend or any other distribution of cash, securities or other property in respect of its Common Stock, including, without limitation, any granting of rights or warrants to subscribe for or purchase
      any capital stock of the Company or any subsidiary, (ii) authorizes or approves, enters into any agreement contemplating or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or
      winding up of the affairs of the Company, then, except if such notice and the contents thereof shall be deemed to constitute material non-public information, the Company shall deliver to the Holder a notice of such transaction at least ten (10) days
      prior to the applicable record or effective date on which a Person would need to hold Common Stock in order to participate in or vote with respect to such transaction; <font style="font-style: italic;">provided, however</font>, that the failure to deliver such notice or any defect therein shall not affect the validity of the corporate action required to be described in such notice. In the event such notice and the contents
      thereof shall be deemed to constitute material non-public information, the Company shall (on the same time frame set forth in the immediately prior sentence) offer the Holder the ability to sign a confidentiality agreement related thereto sufficient
      to allow the Holder to receive such notice, and the Company shall deliver such notice immediately upon execution of such confidentiality agreement.&#160; In addition, if while this Warrant is outstanding, the Company authorizes or approves, enters into
      any agreement contemplating or solicits stockholder approval for any Fundamental Transaction contemplated by <u>Section 9(c)</u>, other than a Fundamental
      Transaction under clause <u>(iii)</u> of <u>Section 9(c)</u>, the Company shall
      deliver to the Holder a notice of such Fundamental Transaction at least thirty (30) days prior to the date such Fundamental Transaction is consummated. Holder agrees to maintain any information disclosed pursuant to this <u>Section 9(g)</u> in confidence until such information is publicly available, and shall comply with applicable law with respect to trading in the Company&#8217;s securities following receipt
      any such information.</div>
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    <div>10.&#160; <u>Payment of Exercise Price</u>. Notwithstanding anything contained
      herein to the contrary, the Holder may, in its sole discretion, satisfy its obligation to pay the Exercise Price through a &#8220;cashless exercise&#8221;, in which event the Company shall issue to the Holder the number of Warrant Shares determined as follows:</div>
    <div><br>
    </div>
    <div style="text-align: center;">X = Y [(A-B)/A]</div>
    <div><br>
    </div>
    <div>where:</div>
    <div><br>
    </div>
    <div>&#8220;X&#8221; equals the number of Warrant Shares to be issued to the Holder;</div>
    <div><br>
    </div>
    <div>&#8220;Y&#8221; equals the total number of Warrant Shares with respect to which this Warrant is then being exercised;</div>
    <div><br>
    </div>
    <div>&#8220;A&#8221; equals&#160; (i) the last Closing Sale Price of the shares of Common Stock (as reported by Bloomberg Financial Markets) on the Trading Day immediately
      preceding the Exercise Date if the Exercise Notice is delivered prior to market close on the Exercise Date, or (ii) the last Closing Sale Price of the shares of Common Stock (as reported by Bloomberg Financial Markets) on the Exercise Date if the
      Exercise Notice is delivered following market close on the Exercise Date; and</div>
    <div><br>
    </div>
    <div>&#8220;B&#8221; equals the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.</div>
    <div><br>
    </div>
    <div>For purposes of Rule 144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a &#8220;cashless
      exercise&#8221; transaction shall be deemed to have been acquired by the Holder, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised, and the holding period for the Warrant Shares shall be deemed to have
      commenced, on the date this Warrant was originally issued (provided that the Commission continues to take the position that such treatment is proper at the time of such exercise). In the event that the Registration Statement or another registration
      statement registering the issuance of Warrant Shares is, for any reason, not effective at the time of exercise of this Warrant, then the Warrant may only be exercised through a cashless exercise, as set forth in this <u>Section 10</u>. Except as set forth in <u>Section 5(b)</u> (Buy-In remedy) and <u>Section 12</u> (payment of cash in lieu of fractional shares), in no event will the exercise of this Warrant be settled in cash.</div>
    <div><br>
    </div>
    <div>11.&#160; <u>Limitations on Exercise</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding anything to
        the contrary contained herein, the Company shall not effect any exercise of this Warrant, and the Holder shall not be entitled to exercise this Warrant for a number of Warrant Shares in excess of that number of Warrant Shares which, upon giving
        effect or immediately prior to such exercise, would cause (i) the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated
        with the Holder&#8217;s for purposes of Section 13(d) of the Exchange Act, to exceed 9.99% (the &#8220;Maximum Percentage&#8221;) of the total number of issued and outstanding shares of Common Stock of the Company following such exercise, or (ii) the combined voting
        power of the securities of the Company beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder&#8217;s for purposes of Section 13(d) of the Exchange Act to
        exceed 9.99% of the combined voting power of all of the securities of the Company then outstanding following such exercise. For purposes of this Warrant, in determining the number of outstanding shares of Common Stock, the Holder may rely on the
        number of outstanding shares of Common Stock as reflected in (x) the Company&#8217;s most recent Form 10-Q or Form 10-K, as the case may be, filed with the Commission prior to the date hereof, (y) a more recent public announcement by the Company or (z)
        any other notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written request of the Holder, the Company shall within three (3) Trading Days confirm in writing or by electronic mail
        to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this
        Warrant, by the Holder since the date as of which such number of outstanding shares of Common Stock was reported. By written notice to the Company, the Holder may from time to time increase or decrease the Maximum Percentage to any other percentage
        not in excess of 19.99% specified in such notice; provided that any such increase will not be effective until the sixty-first (61st) day after such notice is delivered to the Company. For purposes of this <u>Section 11(a)</u>, the aggregate number of shares of Common Stock or voting securities beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common
        Stock would be aggregated with the Holder&#8217;s for purposes of Section 13(d) of the Exchange Act shall include the shares of Common Stock issuable upon the exercise of this Warrant with respect to which such determination is being made, but shall
        exclude the number of shares of Common Stock which would be issuable upon (x) exercise of the remaining unexercised and non-cancelled portion of this Warrant by the Holder and (y) exercise or conversion of the unexercised, non-converted or
        non-cancelled portion of any other securities of the Company that do not have voting power (including without limitation any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including without
        limitation any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock), is subject to a limitation
        on conversion or exercise analogous to the limitation contained herein and is beneficially owned by the Holder or any of its Affiliates and other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder&#8217;s for purposes
        of Section 13(d) of the Exchange Act.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This <u>Section 11</u> shall not restrict the number of shares of Common Stock which a Holder may receive or beneficially own in order to determine the amount of securities
        or other consideration that such Holder may receive in the event of a Fundamental Transaction as contemplated in <u>Section 9(c)</u> of this Warrant.</div>
    <div><br>
    </div>
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    <div>12.&#160; <u>No Fractional Shares</u>. No fractional Warrant Shares will be
      issued in connection with any exercise of this Warrant. In lieu of any fractional shares that would otherwise be issuable, the number of Warrant Shares to be issued shall be rounded down to the next whole number and the Company shall pay the Holder
      in cash the fair market value (based on the Closing Sale Price) for any such fractional shares.</div>
    <div><br>
    </div>
    <div>13.&#160; <u>Notices</u>. Any and all notices or other communications or
      deliveries hereunder (including, without limitation, any Exercise Notice) shall be in writing and shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered via facsimile or
      e-mail at the facsimile number or e-mail address specified in the books and records of the Transfer Agent prior to 5:30 P.M., New York City time, on a Trading Day so long as the sender of an e-mail has not received an automated notice of delivery
      failure from the proposed recipient's computer server, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile or e-mail at the facsimile number or e-mail address specified in the books and
      records of the Transfer Agent on a day that is not a Trading Day or later than 5:30 P.M., New York City time, on any Trading Day so long as the sender of an e-mail has not received an automated notice of delivery failure from the proposed recipient's
      computer server, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service specifying next business day delivery, or (iv) upon actual receipt by the Person to whom such notice is required to be
      given, if by hand delivery.&#160; To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any subsidiaries, the Company shall simultaneously file such notice with the Commission
      pursuant to a Current Report on Form 8-K.</div>
    <div><br>
    </div>
    <div>14.&#160; <u>Warrant Agent</u>. The Company shall initially serve as warrant
      agent under this Warrant. Upon thirty (30) days&#8217; notice to the Holder, the Company may appoint a new warrant agent. Any corporation into which the Company or any new warrant agent may be merged or any corporation resulting from any consolidation to
      which the Company or any new warrant agent shall be a party or any corporation to which the Company or any new warrant agent transfers substantially all of its corporate trust or shareholders services business shall be a successor warrant agent under
      this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant agent to be mailed (by first class mail, postage prepaid) to the Holder at the Holder&#8217;s last address as shown on the
      Warrant Register. Notwithstanding anything to the contrary contained herein or in any warrant agency agreement that the Company may enter into in the future, the Holder shall be entitled to elect to receive, or continue to hold, this Warrant in
      certificated form, in which case the terms set forth in any such warrant agency agreement shall not apply to this Warrant.</div>
    <div><br>
    </div>
    <div>15.&#160; <u>Miscellaneous</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(a) <u>No Rights as a Stockholder</u>. The Holder,
      solely in such Person&#8217;s capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this Warrant be construed to
      confer upon the Holder, solely in such Person&#8217;s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of
      stock, reclassification of stock, consolidation, merger, amalgamation, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which such
      Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or
      otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(b) <u>Authorized Shares</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(i) Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including,
      without limitation, amending its certificate or articles of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the
      observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder
      as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such
      increase in par value, (b) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Warrant Shares upon the exercise of this Warrant, and (c) use commercially
      reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this Warrant.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(ii) Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant
      is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.</div>
    <div><br>
    </div>
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    </div>
    <div style="text-indent: 36pt;">(c) <u>Successors and Assigns</u>. Subject to the
      restrictions on transfer set forth in this Warrant and compliance with applicable securities laws, this Warrant may be assigned by the Holder. This Warrant may not be assigned by the Company without the written consent of the Holder, except to a
      successor in the event of a Fundamental Transaction. This Warrant shall be binding on and inure to the benefit of the Company and the Holder and their respective successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall
      be construed to give to any Person other than the Company and the Holder any legal or equitable right, remedy or cause of action under this Warrant. This Warrant may be amended only in writing signed by the Company and the Holder, or their successors
      and assigns.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d) <u>Amendment and Waiver</u>. Except as otherwise
      provided herein, the provisions of the Warrants may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the written consent of the
      Holders of Warrants representing no less than a majority of the Warrant Shares obtainable upon exercise of the Warrants then outstanding.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(e) <u>Acceptance</u>. Receipt of this Warrant by the
      Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(f) <u>Governing Law; Jurisdiction</u>. ALL QUESTIONS
      CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF.
      EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH
      OR WITH ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS), AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT
      IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY
      THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PERSON AT THE ADDRESS IN EFFECT FOR NOTICES TO IT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE
      THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. EACH OF THE COMPANY AND THE HOLDER HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(g) <u>Headings</u>. The headings herein are for
      convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any of the provisions hereof.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(h) <u>Severability</u>. In case any one or more of
      the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby, and the Company and the
      Holder will attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Warrant.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(i) <u>Interpretation</u>. For purposes of this
      Warrant, (a) the words &#8220;include,&#8221; &#8220;includes&#8221; and &#8220;including&#8221; are deemed to be followed by the words &#8220;without limitation&#8221;; (b) the word &#8220;or&#8221; is not exclusive; and (c) the words &#8220;herein,&#8221; &#8220;hereof, &#8220;hereby,&#8221; &#8220;hereto&#8221; and &#8220;hereunder&#8221; refer to this
      Warrant as a whole. Unless the context otherwise requires, references herein: (x) to sections and schedules mean the sections of, and schedules attached to, this Warrant; (y) to an agreement, instrument, or other document means such agreement,
      instrument, or other document (as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof/without regard to subsequent amendments, supplements, and modifications thereto); and (z) to a statute means such
      statute (as amended from time to time and includes/enforced at the time and date of this Warrant becoming effective) and does not include any successor legislation thereto and any regulations promulgated thereunder. This Warrant shall be construed
      without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The schedules referred to herein shall be construed with, and as an integral part of,
      this Warrant to the same extent as if they were set forth verbatim herein. All references to &#8220;$&#8221; or &#8220;dollars&#8221; mean the lawful currency of the United States of America. Whenever the singular is used in this Warrant, the same shall include the plural,
      and whenever the plural is used herein, the same shall include the singular, where appropriate.</div>
    <div><br>
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    <div style="text-align: center;">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]</div>
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    <div>IN WITNESS WHEREOF, the undersigned has caused this Warrant to be duly executed by its authorized officer as of the date first indicated above.</div>
    <div> <br>
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    <div>
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            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
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              <div>&#160;COMPANY:</div>
            </td>
          </tr>
          <tr>
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              <div>&#160;</div>
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              <div>&#160;</div>
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              <div>&#160;BIOCRYST PHARMACEUTICALS, INC.</div>
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              <div>&#160;</div>
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              <div>&#160;</div>
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              <div>&#160;By:</div>
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              <div>&#160;</div>
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              <div>&#160;</div>
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              <div>&#160;Name:</div>
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            <td style="width: 40%;">
              <div>
                <div style="text-align: left;">Alane Barnes</div>
              </div>
            </td>
          </tr>
          <tr>
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              <div>&#160;</div>
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              <div>&#160;Title:</div>
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                <div style="text-align: left;">Senior Vice President and Chief Legal Officer</div>
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              <div>&#160;</div>
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    <div><br>
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    <div style="text-align: center;"><u>SCHEDULE 1</u></div>
    <div><br>
    </div>
    <div style="text-align: center;">FORM OF EXERCISE NOTICE</div>
    <div><br>
    </div>
    <div style="text-align: center;">[To be executed by the Holder to purchase shares of Common Stock under the Warrant]</div>
    <div><br>
    </div>
    <div>Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div>(1) The undersigned is the Holder of Warrant No. __ (the &#8220;<font style="font-style: italic;">Warrant</font>&#8221;)
      issued by BioCryst Pharmaceuticals, Inc., a Delaware corporation (the &#8220;<font style="font-style: italic;">Company</font>&#8221;). Capitalized terms used herein and not otherwise defined herein
      have the respective meanings set forth in the Warrant.</div>
    <div><br>
    </div>
    <div>(2) The undersigned hereby exercises its right to purchase Warrant Shares pursuant to the Warrant.</div>
    <div><br>
    </div>
    <div>(3) The Holder intends that payment of the Exercise Price shall be made as (check one):</div>
    <div> <br>
    </div>
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            <div>&#9744;</div>
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          <td style="width: 92%; vertical-align: top;">
            <div>Cash Exercise</div>
          </td>
        </tr>

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    <div> <br>
    </div>
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          <td style="width: 4.01%; vertical-align: middle;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
            <div>&#9744;</div>
          </td>
          <td style="width: 92%; vertical-align: top;">
            <div>&#8220;Cashless Exercise&#8221; under <u><font style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">Section 10</font></u>
              of the Warrant</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div>(4) If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $ in immediately available funds to the Company in accordance with the terms of
      the Warrant.</div>
    <div><br>
    </div>
    <div>(5) Pursuant to this Exercise Notice, the Company shall deliver to the Holder Warrant Shares determined in accordance with the terms of the Warrant.</div>
    <div><br>
    </div>
    <div>(6) By its delivery of this Exercise Notice, the undersigned represents and warrants to the Company that in giving effect to the exercise evidenced hereby the
      Holder will not beneficially own in excess of the number of shares of Common Stock (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended) permitted to be owned under <u>Section 11(a)</u> of the Warrant to which this notice relates.</div>
    <div><br>
    </div>
    <div> <br>
    </div>
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          <td style="width: 15%; vertical-align: middle;">&#160;</td>
          <td style="width: 40%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>Dated:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>Name of Holder:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: middle;">&#160;</td>
          <td colspan="2" style="vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>By:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>Name:</div>
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          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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        <tr>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div>Title:</div>
          </td>
          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>

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    <div>(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)</div>
    <div> <br>
    </div>
    <div>
      <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>nt10011234x7_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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    <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">Exhibit 5.1</div>
  <div><br>
  </div>
  <div>June 1, 2020</div>
  <div><br>
  </div>
  <div>BioCryst Pharmaceuticals, Inc.</div>
  <div>4505 Emperor Blvd., Suite 200</div>
  <div>Durham, North Carolina 27703</div>
  <div><br>
  </div>
  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1859236442e14b9c856628475ffcd9eb" cellpadding="0" cellspacing="0">

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        <td style="width: 36pt; vertical-align: top; align: right;">Re:</td>
        <td style="width: auto; vertical-align: top;">
          <div style="font-style: italic;">BioCryst Pharmaceuticals, Inc.</div>
        </td>
      </tr>

  </table>
  <div style="text-indent: 0pt; font-family: 'Times New Roman',Times,serif; font-style: italic;">
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt; vertical-align: top; align: right;"><br>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-style: italic;">Registration Statement on Form S-3 (File No. 333-237820)</div>
          </td>
        </tr>

    </table>
  </div>
  <div><br>
  </div>
  <div>Ladies and Gentlemen:</div>
  <div><br>
  </div>
  <div>We have examined the Registration Statement on Form S-3, File No. 333-237820 (the <u>&#8220;Registration Statement</u>&#8221;) of BioCryst Pharmaceuticals, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), filed with the Securities and Exchange Commission
    (the &#8220;<u>Commission</u>&#8221;) pursuant to the Securities Act of 1933, as amended (the &#8220;<u>Securities Act</u>&#8221;), in connection with the offering by the Company of up to 22,044,447 shares (the &#8220;<u>Underwritten Shares</u>&#8221;) of the Company&#8217;s common stock, par
    value $0.01 per share (the &#8220;<u>Common Stock</u>&#8221;), and pre-funded warrants (the &#8220;<u>Warrants</u>,&#8221; and together with the Underwritten Shares, the &#8220;<u>Securities</u>&#8221;) to purchase up to an aggregate of 3,511,111 shares of Common Stock (such shares
    issuable upon exercise of the Warrants, the &#8220;<u>Warrant Shares</u>&#8221;).&#160; The Securities will be issued pursuant to the Underwriting Agreement, dated May 27, 2020 (the &#8220;<u>Underwriting Agreement</u>,&#8221; and together with the Warrants, the &#8220;<u>Documents</u>&#8221;),
    among the Company, J.P. Morgan Securities LLC, and Piper Sandler &amp; Co., as representatives of the underwriters named therein (the &#8220;<u>Underwriters</u>&#8221;).</div>
  <div><br>
  </div>
  <div>In arriving at the opinion expressed below, we have examined originals, or copies certified or otherwise identified to our satisfaction as being true and complete copies of the originals, of forms of the Warrants, specimen Common Stock certificates
    and such other documents, corporate records, certificates of officers of the Company and of public officials and other instruments as we have deemed necessary or advisable to enable us to render the opinions set forth below.&#160; In our examination, we
    have assumed without independent investigation the genuineness of all signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals and the conformity to original documents of all
    documents submitted to us as copies.</div>
  <div><br>
  </div>
  <div>Based upon the foregoing, and subject to the assumptions, exceptions, qualifications and limitations set forth herein, we are of the opinion that:</div>
  <div><br>
  </div>
  <div style="text-indent: 36pt; margin-left: 36pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Shares, when issued and delivered to and paid for by the Underwriters in accordance with the terms of the Underwriting Agreement, will be validly issued, fully paid and non-assessable;</div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after:always;" id="DSPFPageBreak">
      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
  </div>
  <div>BioCryst Pharmaceuticals, Inc.</div>
  <div>June 1, 2020</div>
  <div>Page <font id="DSPFPageNumber">2</font></div>
  <div><br>
  </div>
  <div style="text-indent: 36pt; margin-left: 36pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Warrants, when issued and delivered and paid for in accordance with the terms of the Underwriting Agreement, will be legal, valid and binding obligations of the Company, enforceable
    against the Company in accordance with their terms; and</div>
  <div><br>
  </div>
  <div style="text-indent: 36pt; margin-left: 36pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Warrant Shares, when issued upon exercise of the Warrants in accordance with their terms, for the additional consideration specified therein, will be validly issued, fully paid and
    non-assessable.</div>
  <div><br>
  </div>
  <div>The opinions expressed above are subject to the following exceptions, qualifications, limitations and assumptions:</div>
  <div><br>
  </div>
  <div style="text-indent: 36pt;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We render no opinion herein as to matters involving the laws of any jurisdiction other than the State of New York and the Delaware General Corporation Law.&#160; This opinion is limited to the effect of the current
    state of the laws of the State of New York, the Delaware General Corporation Law and the facts as they currently exist.&#160; We assume no obligation to revise or supplement this opinion in the event of future changes in such laws or the interpretations
    thereof or such facts.</div>
  <div><br>
  </div>
  <div style="text-indent: 36pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The opinion above with respect to the Warrants is subject to (i) the effect of any bankruptcy, insolvency, reorganization, moratorium, arrangement or similar laws affecting the rights and remedies of creditors
    generally, including without limitation the effect of statutory or other laws regarding fraudulent transfers or preferential transfers, (ii) general principles of equity, including without limitation concepts of materiality, reasonableness, good faith
    and fair dealing and the possible unavailability of specific performance, injunctive relief or other equitable remedies regardless of whether enforceability is considered in a proceeding in equity or at law, and (iii) the provisions of Article SIXTH of
    the Third Restated Certificate of Incorporation of the Company, as amended.</div>
  <div><br>
  </div>
  <div style="text-indent: 36pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We express no opinion regarding the effectiveness of (i) any waiver of stay, extension or usury laws, (ii) provisions relating to indemnification, exculpation or contribution, to the extent such provisions may
    be held unenforceable as contrary to public policy or federal or state securities laws or due to the negligence or willful misconduct of the indemnified party; (iii) any provision in any Document waiving the right to object to venue in any court; (iv)
    any agreement to submit to the jurisdiction of any Federal court; (v) any waiver of the right to jury trial or (vi) any provision to the effect that every right or remedy is cumulative and may be exercised in addition to any other right or remedy or
    that the election of some particular remedy does not preclude recourse to one or more others.</div>
  <div><br>
  </div>
  <div style="text-indent: 36pt;">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In rendering our opinions expressed in paragraph 3, we have assumed that the Exercise Price (as defined in the Warrants) will not be adjusted to an amount, on a per-share basis, less than the par value of the
    Common Stock.</div>
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  <div>BioCryst Pharmaceuticals, Inc.</div>
  <div>June 1, 2020</div>
  <div>Page 3</div>
  <div><br>
  </div>
  <div>We consent to the filing of this opinion as an exhibit to the Registration Statement, and we further consent to the use of our name under the caption &#8220;<u>Legal Matters</u>&#8221; in the Registration Statement and the prospectus that forms a part thereof.&#160;
    In giving these consents, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations of the Commission.</div>
  <div><br>
  </div>
  <div>Very truly yours,</div>
  <div><br>
  </div>
  <div>/s/ Gibson, Dunn &amp; Crutcher LLP</div>
  <div>
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