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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the grant of inducement stock options to 18 new employees. The options allow the purchase of 199,000 shares at an exercise price of $15.92 and $16.15, corresponding to the closing stock prices on August 31 and September 1, 2021, respectively.

The options will vest in four equal annual installments, starting one year after the grant date, and are part of the Inducement Equity Incentive Plan, valid for 10 years.

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RESEARCH TRIANGLE PARK, N.C., Sept. 02, 2021 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 18 newly-hired employees inducement options to purchase an aggregate of 199,000 shares of BioCryst common stock on August 31, 2021 and September 1, 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 granted on August 31, 2021 have an exercise price of $15.92 per share and the options granted on September 1, 2021 have an exercise price of $16.15 per share, which is equal to the closing price of BioCryst common stock on the respective 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 and the United Kingdom. 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 stock options were granted by BioCryst Pharmaceuticals on September 1, 2021?

BioCryst granted inducement stock options for 199,000 shares, with an exercise price of $16.15.

How many shares did BioCryst Pharmaceuticals grant on August 31, 2021?

BioCryst granted stock options for 199,000 shares on August 31, 2021.

What is the exercise price of the stock options granted by BioCryst on August 31, 2021?

The exercise price for options granted on August 31, 2021, is $15.92.

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

The stock options have a term of 10 years.

What are the vesting terms for the stock options granted by BioCryst to new employees?

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