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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the grant of inducement stock options for 12 new employees, totaling 222,500 shares. The options were issued on July 30, 2021, with an exercise price of $16.12, equal to the closing stock price on that date. Options will vest in equal annual installments over four years, contingent on the employees' continued service. This action follows Nasdaq Listing Rule 5635(c)(4), aimed at enhancing employee incentives and aligning their interests with shareholders.

Positive

• Inducement options granted to 12 new employees may enhance company motivation and retention.
• The options align employee interests with shareholder value.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Aug. 03, 2021 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 12 newly-hired employees inducement options to purchase an aggregate of 222,500 shares of BioCryst common stock on July 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 $16.12 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 and the United Kingdom for the prevention of HAE attacks in adults and pediatric patients 12 years and older. 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 are the details of the stock options granted by BioCryst Pharmaceuticals (BCRX)?

BioCryst granted inducement stock options for 222,500 shares to 12 new employees, with an exercise price of $16.12 and vesting over four years.

When were the stock options granted by BioCryst Pharmaceuticals (BCRX)?

The stock options were granted on July 30, 2021.

What is the purpose of the stock options granted by BioCryst Pharmaceuticals (BCRX)?

The options aim to incentivize new employees and align their interests with those of shareholders.