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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the grant of inducement options for 95,500 shares to 10 new employees as of October 29, 2021. The exercise price is set at $14.93, aligning with the closing stock price on the grant date. The options vest in four annual installments, contingent on continued employment, and have a term of 10 years. BioCryst is focused on developing innovative treatments for rare diseases, with notable products including ORLADEYO® and RAPIVAB®.

Positive

• Inducement options granted for 95,500 shares to new employees enhance recruitment efforts.
• Exercise price set at $14.93 reflects current stock value, providing potential upside.
• Vesting schedule encourages employee retention and aligns interests with company performance.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Nov. 02, 2021 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 10 newly-hired employees inducement options to purchase an aggregate of 95,500 shares of BioCryst common stock on October 29, 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 $14.93 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 are the details of the stock options granted by BioCryst (BCRX)?

BioCryst granted inducement options for 95,500 shares at an exercise price of $14.93, vesting in four annual installments.

Why did BioCryst grant inducement options to employees?

These options were provided to attract and retain talent essential for the company's growth and success.

What is the significance of the options' exercise price for BCRX stock?

The exercise price of $14.93 matches the closing stock price on the grant date, reflecting its current market value.

How does the vesting schedule of the stock options impact employees?

The options vest over four years, promoting long-term commitment and performance alignment with BioCryst's success.

What is BioCryst Pharmaceuticals known for?

BioCryst develops novel treatments for rare diseases, including products like ORLADEYO® and RAPIVAB®.