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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) has granted inducement options to nine new employees for a total of 178,500 shares of its common stock as of September 30, 2021. The options have an exercise price of $14.37 per share, matching the stock's closing price on that date. Vesting occurs in four equal installments annually, contingent on continued employment. This action complies with Nasdaq Listing Rule 5635(c)(4) and supports BioCryst's commitment to attracting talent in the rare disease treatment sector.

Positive

• Inducement options granted for 178,500 shares support workforce growth.
• Options have a favorable exercise price of $14.37, equal to the market price.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Oct. 04, 2021 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted nine newly-hired employees inducement options to purchase an aggregate of 178,500 shares of BioCryst common stock on September 30, 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 $14.37 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 employee inducement options granted by BioCryst Pharmaceuticals?

BioCryst Pharmaceuticals granted inducement options for 178,500 shares at an exercise price of $14.37 on September 30, 2021.

How does the stock option vesting work for the new employees at BioCryst?

The options vest in four equal annual installments starting one year from the grant date, contingent on continued employment.

What compliance rules does BioCryst follow for its inducement options?

The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the significance of the stock exercise price set at $14.37 for BioCryst?

The exercise price of $14.37 matches the company's closing stock price on the grant date, providing a fair opportunity for employees.