Strongbridge Biopharma plc Announces New Employment Inducement Awards
August 28 2018 - 7:30AM
Strongbridge Biopharma plc, (Nasdaq: SBBP), a global
commercial-stage biopharmaceutical company focused on the
development and commercialization of therapies for rare diseases
with significant unmet needs, today announced that it has approved
inducement equity awards to 26 individuals who have recently
become, or are expected to become, non-executive employees of the
Company.
The inducement awards are being made in the form
of non-qualified stock options to purchase an aggregate of 448,000
ordinary shares of the Company, and are being made as a material
inducement to these individuals to enter into employment with the
Company pursuant to NASDAQ Listing Rule 5635(c)(4).
The exercise price for each of the options is
equal to the closing price of the Company’s ordinary shares on the
grant date. One quarter of each of the options will vest on the
one-year anniversary of the grant date of such option and the
remaining three quarters will vest in 12 equal quarterly
installments following the one-year anniversary of the grant date,
subject to the employee’s continuous employment with the
Company. The options will have a ten-year term. The
options will be subject to the terms and conditions of the
Company’s 2017 Inducement Plan, pursuant to which the options have
been granted.
About Strongbridge BiopharmaStrongbridge
Biopharma is a global commercial-stage biopharmaceutical company
focused on the development and commercialization of therapies for
rare diseases with significant unmet needs. Strongbridge's rare
endocrine franchise includes MACRILEN™ (macimorelin), the first and
only FDA-approved oral drug indicated for the diagnosis of adult
growth hormone deficiency, RECORLEV™ (levoketoconazole), a cortisol
synthesis inhibitor currently being studied in Phase 3 clinical
studies for the treatment of endogenous Cushing's syndrome, and
veldoreotide extended release, a pre-clinical next-generation
somatostatin analog being investigated for the treatment of
acromegaly and potential additional applications in other
conditions amenable to somatostatin receptor activation. MACRILEN
has orphan drug exclusivity in the United States, and both RECORLEV
and veldoreotide have received orphan drug designation from the FDA
and the European Medicines Agency. The Company’s rare neuromuscular
franchise includes KEVEYIS® (dichlorphenamide), the first and only
FDA-approved treatment for hyperkalemic, hypokalemic, and related
variants of primary periodic paralysis. KEVEYIS has orphan drug
exclusivity in the United States.
Forward-Looking StatementsAll statements, other
than statements of historical facts, contained in this press
release, are forward-looking statements. These statements relate to
future events and involve known and unknown risks, including,
without limitation, uncertainties regarding Strongbridge's
strategy, plans, and objectives of management for future
operations. The words "anticipate," "estimate," "expect," "intend,"
"may," "plan," "potential," "project," "target," "will," "would,"
or the negative of these terms or other similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections and are not guarantees of
future performance or development and involve known and unknown
risks, uncertainties and other factors. The forward-looking
statements contained in this press release are made as of the date
of this press release, and Strongbridge Biopharma does
not assume any obligation to update any forward-looking statements
except as required by applicable law.
Contacts:
Corporate and Media Relations Elixir Health
Public Relations Lindsay Rocco +1
862-596-1304lrocco@elixirhealthpr.com
Investor RelationsUnited States:Solebury Trout
Marcy Nanus +1 646-378-2927 mnanus@soleburytrout.com
Europe:First HouseGeir Arne Drangeid+47 913 10
458strongbridgebio@firsthouse.no
USA 900 Northbrook Drive Suite 200 Trevose,
PA 19053 Tel. +1 610-254-9200 Fax. +1 215-355-7389
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