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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the grant of 91,000 stock options to 11 new employees, effective December 31, 2021. The options, part of an inducement plan under Nasdaq Rule 5635(c)(4), have an exercise price of $13.85, matching the stock's closing price on the grant date. The options vest in four equal annual installments beginning one year after the grant. This initiative aligns with BioCryst's focus on attracting talent for its ongoing development of treatments for rare diseases, including multiple candidate therapies.

Positive

• Inducement options granted to new employees may enhance talent acquisition.
• The option exercise price aligns with the stock value, indicating no immediate dilution.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Jan. 04, 2022 (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 91,000 shares of BioCryst common stock on December 31, 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 $13.85 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 stock options were granted by BioCryst Pharmaceuticals on December 31, 2021?

BioCryst granted 91,000 stock options to 11 newly-hired employees on December 31, 2021.

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

The exercise price of the stock options is $13.85 per share, equal to the stock's closing price on the grant date.

How do the stock options vest for new employees at BioCryst Pharmaceuticals?

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

Why were inducement stock options granted to new employees at BCRX?

The inducement stock options were granted to attract talent and support the company's ongoing development programs.

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

The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4), which governs the issuance of inducement options.