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 10 newly-hired employees on December 31, 2020, allowing the purchase of 240,500 shares at $7.45 each, equal to the stock’s closing price on the grant date. These options vest in four equal annual installments, subject to continued service. The initiative complies with Nasdaq Listing Rule 5635(c)(4), aiming to attract talent and align incentives with the company’s growth strategy.

Positive

• Grant of 240,500 stock options enhances employee retention and incentivizes performance.
• The exercise price of $7.45 matches the closing price, indicating no immediate dilution impact.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Jan. 07, 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 240,500 shares of BioCryst common stock on December 31, 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 $7.45 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 for the prevention of HAE attacks in adults and pediatric patients 12 years and older, and under regulatory review for approval in Japan and the European Union. 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), a viral neuraminidase inhibitor for the treatment of influenza, 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 did BioCryst grant on December 31, 2020?

BioCryst granted inducement options for 240,500 shares at an exercise price of $7.45.

Who received the inducement options from BioCryst?

10 newly-hired employees received the inducement options.

What is the vesting schedule for the options granted by BioCryst?

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

Which rule did BioCryst follow for the stock option grant?

BioCryst's option grant complies with Nasdaq Listing Rule 5635(c)(4).

How does the stock option grant impact BioCryst's stock?

The options are set at the current stock price, minimizing immediate dilution for existing shareholders.