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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the grant of inducement options for 84,000 shares to 11 new employees on November 30, 2021. The options, priced at $12.06 per share, match the stock's closing price on that date and vest over four years. This grant complies with Nasdaq Listing Rule 5635(c)(4). BioCryst focuses on developing oral medicines for rare diseases, with ongoing programs like BCX9930 and BCX9250. Their product ORLADEYO® is already approved in multiple regions, including the U.S. and Europe.

Positive

• Inducement options granted for 84,000 shares may enhance employee retention and motivation.
• Compliance with Nasdaq rules indicates sound corporate governance practices.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Dec. 03, 2021 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 11 newly-hired employees inducement options to purchase an aggregate of 84,000 shares of BioCryst common stock on November 30, 2021 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 $12.06 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. 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 options were granted by BioCryst Pharmaceuticals on November 30, 2021?

BioCryst granted inducement options to purchase 84,000 shares to 11 newly-hired employees.

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

The exercise price for the options is $12.06 per share, matching the closing price on the grant date.

How will the stock options for BioCryst Pharmaceuticals vest?

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

What are the key products in development at BioCryst Pharmaceuticals?

BioCryst is developing BCX9930, BCX9250, and has approved products like ORLADEYO® and RAPIVAB®.