BioCryst Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
RESEARCH TRIANGLE PARK, N.C., June 04, 2019 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq:BCRX) today announced that the compensation committee of BioCryst’s board of directors granted four newly-hired employees options to purchase an aggregate of 67,500 shares of BioCryst common stock on May 31, 2019, 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 $3.50 per share, which is equal to the closing price of BioCryst common stock on the grant date. Each stock option vests in four equal annual installments beginning on the one-year anniversary of its 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 BCX7353, an oral treatment for hereditary angioedema, BCX9930, an oral Factor D inhibitor for the treatment of complement-mediated diseases, galidesivir, a potential treatment for Marburg virus disease and Yellow Fever, and a preclinical program to develop oral ALK-2 inhibitors 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.
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