BioCryst Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
RESEARCH TRIANGLE PARK, N.C., July 03, 2019 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted three newly-hired employees options to purchase an aggregate of 33,000 shares of BioCryst common stock on June 30, 2019, and granted Megan Sniecinski, the company’s new chief business officer, the option to purchase an aggregate of 500,000 shares of BioCryst common stock on July 1, 2019, in each case 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 June 30, 2019 options have an exercise price of $3.79 per share, which is equal to the closing price of BioCryst common stock on the last business day prior to the grant date, and the July 1, 2019 options have an exercise price of $3.71 per share, which is equal to the closing price of BioCryst common stock on the grant date. The June 30, 2019 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. Of the July 1, 2019 grant, 150,000 options will vest on the first anniversary of Ms. Sniecinski’s start date and the remaining options will vest in three equal annual installments, beginning on the second anniversary of her start date. 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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