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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the grant of stock options and restricted stock units (RSUs) to 17 new employees, totaling 290,000 shares. The options have an exercise price of $16.61, aligned with the closing stock price on February 28, 2022. These grants aim to attract talent as part of Nasdaq Listing Rule 5635(c)(4). The options and RSUs will vest over four years, contingent on continued employment. BioCryst specializes in oral treatments for rare diseases and continues to advance its product pipeline including ORLADEYO and BCX9930.

Positive

• Granting of stock options and RSUs to attract talent indicates strong recruitment efforts.
• Options are priced at $16.61, matching the closing price, suggesting confidence in current valuation.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., March 02, 2022 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 17 newly-hired employees stock options to purchase an aggregate of 228,000 shares, and restricted stock units (RSUs) covering an aggregate of 62,000 shares, of BioCryst common stock. The options and RSUs were granted as of February 28, 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 $16.61 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 recent actions did BioCryst Pharmaceuticals (BCRX) take regarding employee compensation?

BioCryst granted stock options and RSUs totaling 290,000 shares to 17 new employees to enhance talent acquisition.

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

The exercise price for the stock options is $16.61 per share.

How long do the options and RSUs at BioCryst vest?

The options and RSUs vest in four equal annual installments starting one year after the grant date.

What is the significance of Nasdaq Listing Rule 5635(c)(4) for BioCryst?

This rule allows companies to grant stock options or RSUs as inducements to new employees.