ArTara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 05 2020 - 3:05PM
ArTara Therapeutics, Inc. (Nasdaq: TARA), a development-stage
clinical biopharmaceutical company developing treatments for rare
and specialty diseases with significant unmet needs, today
announced the grants of inducement non-qualified stock options to
purchase an aggregate of 4,100 shares of common stock to two new
employees.
Each stock option has an exercise price per
share equal to $24.02 per share, ArTara’s closing trading price on
May 1, 2020, the grant date, and will vest over four years, with
25% of the underlying shares vesting on the one-year anniversary of
the individual’s start date and 1/48th of the underlying shares
vesting monthly thereafter over 36 months subject to the new
employee's continued service relationship with ArTara through the
applicable vesting dates.
The Compensation Committee of ArTara’s Board of
Directors approved the awards as an inducement material to the new
employees’ employment in accordance with NASDAQ Listing Rule
5635(c)(4).
About ArTara Therapeutics
ArTara is focused on identifying and optimizing
product candidates for patients suffering from rare and specialty
diseases where there is a significant unmet need. ArTara’s current
development programs focus on the treatment of rare diseases in
structural and connective tissues, as well as rare
hepatology/gastrointestinal and metabolic disorders. The Company’s
lead program, TARA-002, is being developed for the treatment of
lymphatic malformations. ArTara’s second program, IV choline
chloride, is a phospholipid substrate replacement therapy in
development for the treatment of intestinal failure-associated
liver disease.
Company Contact:
Blaine DavisArTara
TherapeuticsBlaine.Davis@artaratx.com646-844-0337
Media Contact:
Karen O’Shea, Ph.D. LifeSci
Communicationskoshea@lifescicomms.com 929-469-3860
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