Zosano Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
June 14 2017 - 4:01PM
Zosano Pharma Corporation (NASDAQ:ZSAN), a clinical stage
biopharmaceutical company focused on providing rapid systemic
administration of therapeutics to patients using our proprietary
ADAM technology, today announced that it has approved inducement
option grants to two new employees to purchase an aggregate of
100,000 shares of the Company’s common stock with an exercise price
of $1.35 per share, which was the closing price on June 13, 2017.
Each stock option has a ten-year term and vests over four years,
with one-fourth vesting on the first anniversary of the option’s
vesting start date, which is March 27, 2017 for one option and May
1, 2017 for the other option, and the remaining three-fourths
vesting in equal monthly installments thereafter.
Each grant was made as an inducement that was a material
component of the new employee’s compensation and subsequent
acceptance of employment with the Company and was granted as an
employment inducement award pursuant to Nasdaq Listing Rule
5635(c)(4) approved by the Company's Compensation Committee.
About Zosano Pharma
Zosano Pharma Corporation is a clinical stage biopharmaceutical
company focused on providing rapid systemic administration of
therapeutics to patients using our proprietary Adhesive
Dermally-Applied Microarray, or ADAM technology. The Company
recently announced positive results from our ZOTRIP study that
evaluated M207, which is our proprietary formulation of
zolmitriptan delivered via our ADAM technology, as an acute
treatment for migraine. Zosano is focused on developing
products where rapid administration of established molecules with
known safety and efficacy profiles provides an increased benefit to
patients, for markets where patients remain underserved by existing
therapies. The Company anticipates that many of its current and
future development programs may enable the Company to utilize a
regulatory pathway that would streamline clinical development and
accelerate the path towards commercialization. Learn more
at www.zosanopharma.com.
Zosano Contact:
John Walker
Interim Chief Executive Officer
510-745-1200
Investor Contact:
Jamien Jones
Blueprint Life Science Group
415-375-3340 x 5
jjones@bplifescience.com
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