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 for 20 new employees, totaling 290,000 shares, effective July 31, 2020. The options, priced at $4.07 per share, reflect the closing stock price the prior day. Vested over four years, they are part of BioCryst's Inducement Equity Incentive Plan and are valid for a decade. The company focuses on developing novel oral treatments for rare diseases, with products like ORLADEYO™ and RAPIVAB® already in various stages of market approval.

Positive

• Granting stock options may enhance employee retention and motivation.
• The exercise price of $4.07 aligns with recent market performance.
• Ongoing development programs highlight potential for future revenue growth.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Aug. 04, 2020 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 20 newly-hired employees inducement options to purchase an aggregate of 290,000 shares of BioCryst common stock on July 31, 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 $4.07 per share, which is equal to the closing price of BioCryst common stock on the last business day prior to 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 were granted by BioCryst Pharmaceuticals on July 31, 2020?

BioCryst Pharmaceuticals granted inducement options for 290,000 shares to 20 new employees at an exercise price of $4.07 per share.

How many employees received stock options from BioCryst Pharmaceuticals?

Twenty newly-hired employees received stock options from BioCryst Pharmaceuticals.

What is the significance of the stock options granted by BioCryst Pharmaceuticals?

The stock options serve as an inducement for new employees, aimed at retention and aligning their interests with company performance.

What is the duration of the stock options granted by BioCryst Pharmaceuticals?

The stock options have a ten-year term and vest in four equal installments over four years.