ArTara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 02 2020 - 7:00AM
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 51,650 shares of common stock to four new
employees.
Each stock option has an exercise price per share equal to
$24.25 per share, ArTara’s closing trading price on April 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
applicable vesting 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 Communications
koshea@lifescicomms.com 929-469-3860
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