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

Rhea-AI Summary

On September 6, 2022, BioCryst Pharmaceuticals (BCRX) announced the granting of stock options and restricted stock units to 17 new employees, totaling 161,500 options and 64,250 RSUs. The options have an exercise price of $13.90, matching the stock's closing price on the grant date. These compensation incentives are part of Nasdaq's compliance and will vest over four years. BioCryst focuses on developing oral medicines for rare diseases, including approved products like ORLADEYO and ongoing projects such as BCX9930.

Positive

• Stock options and RSUs granted to 17 new employees may enhance talent acquisition.
• The options' exercise price aligns with the market, indicating fair value.
• BioCryst has ongoing development programs targeting rare diseases.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Sept. 06, 2022 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 17 newly-hired employees stock options to purchase an aggregate of 161,500 shares, and restricted stock units (RSUs) covering an aggregate of 64,250 shares, of BioCryst common stock. The options and RSUs were granted as of August 31, 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 $13.90 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 multiple global markets. 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) 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 stock options were granted by BioCryst Pharmaceuticals on September 6, 2022?

BioCryst Pharmaceuticals granted stock options to 17 new employees totaling 161,500 options at an exercise price of $13.90.

What are the terms of the restricted stock units (RSUs) granted by BCRX?

The RSUs cover 64,250 shares and vest in four equal annual installments, subject to continued service.

What is the significance of the stock option grant for BCRX investors?

The stock option grant may attract skilled employees, potentially boosting company performance and shareholder value.