SOUTH PLAINFIELD, N.J.,
May 19, 2017 /PRNewswire/ -- PTC
Therapeutics, Inc. (NASDAQ: PTCT) today announced that
on May 17, 2017 it approved non-statutory stock options
to purchase 46,500 shares of its common stock to ten new employees.
The awards were made pursuant to the NASDAQ inducement
grant exception as a component of our new hires' employment
compensation.
The inducement grants were approved by PTC's Compensation
Committee on May 17, 2017 and are being made as an
inducement material to each employee's acceptance of employment
with the Company in accordance with NASDAQ Listing Rule
5635(c)(4).
The stock option awards have an exercise price of $12.92 per share, the closing price of PTC's
common stock on May 17, 2017, the date of the grant. The stock
options each have a 10-year term and vest over four years, with 25%
of the original number of shares vesting on the first anniversary
of the applicable employee's new hire date and an additional 6.25%
of the original number of shares vesting at the end of each
subsequent three-month period thereafter, subject to the employee's
continued service with the Company through the applicable vesting
dates.
ABOUT PTC THERAPEUTICS, INC.
PTC is a global biopharmaceutical company focused on the discovery,
development, and commercialization of novel medicines using our
expertise in RNA biology. PTC's internally discovered pipeline
addresses multiple therapeutic areas, including rare disorders and
oncology. PTC has discovered all of its compounds currently under
development using its proprietary technologies. Since its founding
nearly 20 years ago, PTC's mission has focused on developing
treatments to fundamentally change the lives of patients living
with rare genetic disorders. The company was founded in 1998 and is
headquartered in South Plainfield, New
Jersey. For more information on the company, please visit
our website www.ptcbio.com.
For More Information:
Investors:
Emily Hill
+1 (908) 912-9327
ehill@ptcbio.com
Media:
Jane Baj
+1 (908) 912-9167
jbaj@ptcbio.com
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SOURCE PTC Therapeutics, Inc.