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 22 new employees. A total of 333,000 shares were allocated at an exercise price of $4.15, equal to the stock's closing price prior to the grant date. The options will vest over four years, starting one year after the grant, and have a 10-year term. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) and aims to attract and retain talent critical for BioCryst's growth, particularly as it advances its novel treatments for rare diseases.

Positive

• Grant of 333,000 inducement stock options to attract and retain talent.
• Exercise price set at $4.15 reflects the closing price prior to grant date.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Sept. 03, 2020 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 22 newly-hired employees inducement options to purchase an aggregate of 333,000 shares of BioCryst common stock on August 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 $4.15 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 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 are the details of the stock options granted by BioCryst Pharmaceuticals?

BioCryst granted 333,000 inducement stock options to 22 newly-hired employees at an exercise price of $4.15, with vesting over four years.

What is the purpose of the inducement options granted by BioCryst?

The inducement options are intended to attract and retain key employees essential for BioCryst's growth and ongoing projects.

How long is the term for the stock options granted by BioCryst?

Each stock option has a term of 10 years from the grant date.

What does the exercise price of $4.15 indicate?

The exercise price of $4.15 matches the closing price of BioCryst's common stock on the last business day before the grant.