BioCryst Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

BioCryst Pharmaceuticals (Nasdaq: BCRX) announced the grant of inducement stock options to nine new employees, totaling 163,000 shares. The options, issued on October 30, 2020, have an exercise price of $3.82 per share, matching the closing stock price on the grant date. Vesting occurs in four equal annual installments starting after one year, subject to the employees' continued service. This issuance aligns with Nasdaq Listing Rule 5635(c)(4) and reflects BioCryst's commitment to attracting talent essential for its ongoing development programs targeting rare diseases.

Positive

• Inducement stock options granted to nine new employees, supporting talent acquisition.
• Options align with Nasdaq regulations, ensuring compliance.

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• None.

RESEARCH TRIANGLE PARK, N.C., Nov. 02, 2020 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted nine newly-hired employees inducement options to purchase an aggregate of 163,000 shares of BioCryst common stock on October 30, 2020 as inducements material to each employee entering into employment with BioCryst. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $3.82 per share, which is equal to the closing price of BioCryst common stock on the grant date. The options vest in four equal annual installments beginning on the one-year anniversary of the grant date, in each case subject to the new employee’s continued service with the company. Each stock option has a 10-year term and is subject to the terms and conditions of BioCryst’s Inducement Equity Incentive Plan and a stock option agreement covering the grant.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals discovers novel, oral, small-molecule medicines that treat rare diseases in which significant unmet medical needs exist and an enzyme plays a key role in the biological pathway of the disease. BioCryst has several ongoing development programs including ORLADEYO^™ (berotralstat), an oral treatment for hereditary angioedema, BCX9930, an oral Factor D inhibitor for the treatment of complement-mediated diseases, galidesivir, a potential treatment for COVID-19, Marburg virus disease and Yellow Fever, and BCX9250, an ALK-2 inhibitor for the treatment of fibrodysplasia ossificans progressiva. RAPIVAB^® (peramivir injection), a viral neuraminidase inhibitor for the treatment of influenza, is BioCryst's first approved product and has received regulatory approval in the U.S., Canada, Australia, Japan, Taiwan, Korea and the European Union. Post-marketing commitments for RAPIVAB are ongoing. For more information, please visit the Company's website at www.BioCryst.com.

BCRXW

Contact:
John Bluth
+1 919 859 7910
jbluth@biocryst.com

FAQ

What stock options did BioCryst Pharmaceuticals grant on October 30, 2020?

BioCryst Pharmaceuticals granted inducement options to purchase 163,000 shares at an exercise price of $3.82.

How do the new employee stock options at BioCryst vest?

The stock options vest in four equal annual installments beginning on the one-year anniversary of the grant.

What is the significance of the Nasdaq rule in BioCryst's stock option grant?

The stock options were granted in accordance with Nasdaq Listing Rule 5635(c)(4), which allows inducement grants to attract talent.

What are BioCryst's ongoing development programs?

BioCryst is developing treatments for rare diseases, including ORLADEYO, BCX9930, galidesivir, and BCX9250.