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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) granted inducement options for 147,500 shares to five newly-hired employees on May 29, 2020. The options have an exercise price set at $4.50, matching the stock's closing price before the grant. They vest in four equal annual installments starting one year from the grant date and have a 10-year term in line with BioCryst’s Inducement Equity Incentive Plan. This initiative aligns with NASDAQ Listing Rule 5635(c)(4) and aims to attract talent to advance BioCryst's innovative drug development portfolio.

Positive

• Issuance of 147,500 stock options may incentivize new talent.
• Exercise price set at $4.50, equal to previous closing price, indicating favorable conditions for new hires.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., June 02, 2020 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted five newly-hired employees inducement options to purchase an aggregate of 147,500 shares of BioCryst common stock on May 29, 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 $4.50 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 berotralstat (BCX7353), 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 did BioCryst Pharmaceuticals grant recently?

BioCryst granted inducement options for 147,500 shares to five newly-hired employees on May 29, 2020.

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

The stock options have an exercise price of $4.50 per share.

How do the stock options for BCRX employees vest?

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

Are the stock options granted by BioCryst Pharmaceuticals in compliance with NASDAQ rules?

Yes, the options were granted in accordance with NASDAQ Listing Rule 5635(c)(4).

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

Each stock option has a 10-year term.