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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced on May 4, 2022, that its board's compensation committee granted stock options and restricted stock units (RSUs) to 23 newly-hired employees. The total granted includes options for 138,100 shares and RSUs for 69,050 shares, with an exercise price of $9.29 per share, equivalent to the stock's closing price on the grant date. These options and RSUs will vest over four years, contingent on continued employment, and are compliant with Nasdaq Listing Rule 5635(c)(4).

Positive

• Issuance of stock options and RSUs may improve employee retention and attract talent.
• The exercise price of $9.29 reflects the stock's current market value.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., May 04, 2022 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 23 newly-hired employees stock options to purchase an aggregate of 138,100 shares, and restricted stock units (RSUs) covering an aggregate of 69,050 shares, of BioCryst common stock. The options and RSUs were granted as of April 29, 2022 as inducements material to each employee entering into employment with BioCryst. The options and RSUs were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $9.29 per share, which is equal to the closing price of BioCryst common stock on the grant date. The options and RSUs 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. The options and RSUs are subject to the terms and conditions of BioCryst’s Inducement Equity Incentive Plan and a stock option agreement or restricted stock unit agreement, as applicable, 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. Oral, once-daily ORLADEYO^® (berotralstat) is approved in the United States, the European Union, Japan, the United Kingdom and the United Arab Emirates. BioCryst has several ongoing development programs including BCX9930, an oral Factor D inhibitor for the treatment of complement-mediated diseases, BCX9250, an ALK-2 inhibitor for the treatment of fibrodysplasia ossificans progressiva, and galidesivir, a potential treatment for Marburg virus disease and Yellow Fever. RAPIVAB^® (peramivir injection) has received regulatory approval in the U.S., Canada, Australia, Japan, Taiwan and Korea. Post-marketing commitments for RAPIVAB are ongoing. For more information, please visit the company’s website at www.biocryst.com.

BCRXW

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

Media Contact:
Catherine Collier Kyroulis
+1 917 886 5586
ckyroulis@biocryst.com

FAQ

What is the latest news from BioCryst Pharmaceuticals (BCRX) as of May 2022?

BioCryst Pharmaceuticals announced the grant of stock options and RSUs totaling 207,150 shares to 23 new employees.

What is the exercise price for the stock options granted by BioCryst?

The exercise price for the stock options is $9.29 per share.

How will the stock options and RSUs vest for new employees at BioCryst?

The stock options and RSUs will vest in four equal annual installments starting on the one-year anniversary of the grant date.

How many shares were granted in stock options and RSUs by BioCryst Pharmaceuticals?

BioCryst granted 138,100 stock options and 69,050 restricted stock units (RSUs) to its new employees.