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 12 new employees totaling 213,000 shares. The options, exercisable at $3.44 per share, were awarded on September 30, 2020, in line with Nasdaq Listing Rule 5635(c)(4). They will vest in four annual installments, subject to continued employment, and have a 10-year term. This initiative highlights BioCryst's commitment to attracting talent necessary for advancing its drug development programs, including treatments for rare diseases and COVID-19.

Positive

• Grant of 213,000 inducement stock options to attract new talent.
• Options exercisable at $3.44 per share, aligning with market value.
• Vesting terms encourage retention of new employees.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Oct. 05, 2020 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 12 newly-hired employees inducement options to purchase an aggregate of 213,000 shares of BioCryst common stock on September 30, 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 $3.44 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?

BioCryst Pharmaceuticals granted inducement stock options to purchase 213,000 shares at an exercise price of $3.44 per share.

When were the stock options granted by BioCryst Pharmaceuticals?

The stock options were granted on September 30, 2020.

Who received the stock options from BioCryst Pharmaceuticals?

The stock options were granted to 12 newly-hired employees at BioCryst Pharmaceuticals.

What is the vesting schedule for the stock options at BioCryst?

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

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

The stock options are part of BioCryst's strategy to attract and retain talent crucial for its drug development efforts.