Albireo Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
October 02 2020 - 3:30PM
Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage orphan
pediatric liver disease company developing novel bile acid
modulators, today announced the grant of inducement stock options
exercisable for an aggregate of 23,000 shares of Albireo’s common
stock. The stock options are exercisable at a price of $32.90 per
share, the closing price of Albireo’s common stock on September 28,
2020, the grant date, and were granted as inducements material to
the employee’s acceptance of employment with Albireo in accordance
with Nasdaq Listing Rule 5635(c)(4). Each stock option has a
10-year term and vests over a four-year period, subject to the
employee’s continued service with Albireo through the applicable
vesting dates. The vesting schedule for each stock option is 25
percent on the one-year anniversary of the employee’s start date
with Albireo and 75 percent in 12 equal quarterly installments
thereafter. The stock options are subject to the terms and
conditions of Albireo’s 2020 Inducement Equity Incentive Plan.
About Albireo Albireo
Pharma is a clinical-stage biopharmaceutical company focused
on the development of novel bile acid modulators to treat orphan
pediatric liver diseases, and other liver and gastrointestinal
diseases and disorders. Albireo’s lead product candidate,
odevixibat, is being developed to treat rare pediatric cholestatic
liver diseases and is in Phase 3 development in progressive
familial intrahepatic cholestasis (PFIC) and biliary atresia, with
a third Phase 3 trial being planned in Alagille syndrome. Albireo
was spun out from AstraZeneca in 2008. Albireo Pharma is located in
Boston, Massachusetts, and its key operating subsidiary is located
in Gothenburg, Sweden.
Investor Contact: Hans VitzthumLifeSci
Advisors, LLC617-430-7578
Media Contact:Colleen Alabiso, 857-356-3905,
colleen.alabiso@albireopharma.comClaire LaCagnina, 6 Degrees,
315-765-1462, clacagnina@6degreespr.com
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