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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the granting of stock options and restricted stock units (RSUs) to 21 newly-hired employees as an inducement for employment. This grant, effective November 30, 2022, includes options to purchase 134,600 shares at an exercise price of $13.36, equal to the stock's closing price on the grant date. The options and RSUs will vest over four years, contingent upon continued employment. BioCryst focuses on developing small-molecule medicines for rare diseases, including the approved oral treatment ORLADEYO®.

Positive

• Grant of stock options and RSUs incentivizes new talent.
• Stock options priced at $13.36 align with the current market value.
• Focus on development of novel treatments for rare diseases.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Dec. 05, 2022 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 21 newly-hired employees stock options to purchase an aggregate of 134,600 shares, and restricted stock units (RSUs) covering an aggregate of 67,300 shares, of BioCryst common stock. The options and RSUs were granted as of November 30, 2022, as inducements material to each employee entering into employment with BioCryst. The options and RSUs were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $13.36 per share, which is equal to the closing price of BioCryst common stock on the grant date. The options and RSUs 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. The options and RSUs are subject to the terms and conditions of BioCryst’s Inducement Equity Incentive Plan and a stock option agreement or restricted stock unit agreement, as applicable, 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 and many global markets. BioCryst has active programs to develop oral medicines for multiple targets across the complement system, including oral factor D inhibitors BCX9930 and BCX10013, which are in clinical development. RAPIVAB® (peramivir injection) is approved in the U.S. and multiple global markets, with post-marketing commitments 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 recent stock option grants were made by BioCryst Pharmaceuticals (BCRX)?

BioCryst Pharmaceuticals granted stock options to 21 new employees, totaling 134,600 shares, at an exercise price of $13.36.

When were the stock options and RSUs granted by BioCryst Pharmaceuticals?

The stock options and RSUs were granted on November 30, 2022.

What is the vesting schedule for the stock options granted by BCRX?

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

What is the purpose of the stock options and RSUs granted by BioCryst?

The grants are intended as inducements material to the employment of new hires.

What is BioCryst Pharmaceuticals' focus in drug development?

BioCryst specializes in discovering oral, small-molecule medicines that treat rare diseases.