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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the granting of inducement stock options to 13 newly-hired employees on November 30, 2020. The total of 260,500 shares were awarded at an exercise price of $5.11, equal to the closing price on the grant date. These options vest in four equal annual installments starting one year from the grant date and have a 10-year term. This grant complies with Nasdaq Listing Rule 5635(c)(4) and is part of BioCryst's Inducement Equity Incentive Plan.

Positive

• Grant of 260,500 stock options to attract new talent.
• Exercise price set at $5.11, aligning with market price.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Dec. 01, 2020 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 13 newly-hired employees inducement options to purchase an aggregate of 260,500 shares of BioCryst common stock on November 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 $5.11 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. 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 did BioCryst grant on November 30, 2020?

BioCryst granted 260,500 stock options to 13 new employees at an exercise price of $5.11.

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

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

How long do the stock options granted by BioCryst last?

Each stock option has a term of 10 years.

What compliance rule did BioCryst follow for the stock options?

The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).

What is BioCryst Pharmaceuticals known for?

BioCryst focuses on discovering oral, small-molecule medicines for rare diseases.