Dicerna Pharmaceuticals, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
June 15 2017 - 7:30AM
Business Wire
Dicerna Pharmaceuticals, Inc. (NASDAQ: DRNA), a leading
developer of investigational ribonucleic acid interference (RNAi)
therapeutics, today announced that based on recommendations from
the Compensation Committee of the Company’s Board of Directors, on
June 7, 2017, the Company's Board of Directors approved the grants
of inducement stock options to purchase a total of 325,000 shares
of the common stock to two new employees, with a grant date of June
15, 2017 (the “Inducement Grants”). The Inducement Grants include a
stock option grant to Ralf Rosskamp, M.D., to purchase 250,000
shares of common stock. Dr. Rosskamp joined the Company as chief
medical officer on June 14, 2017.
The Inducement Grants were granted pursuant to Dicerna’s 2016
Inducement Plan and will have an exercise price per share equal to
the fair market value of our common stock on the grant date. The
stock options vest over four years, with 25% vesting on the
one-year anniversary of the employee's first day of employment with
the Company and 1/36 of the remaining shares vesting monthly
thereafter, subject to the new employee's continued service
relationship with the Company on each such date. Each stock option
has a 10-year term and is subject to the terms and conditions of
the applicable stock option agreement.
The stock options were granted as an inducement material to the
new employees entering into employment with Dicerna
Pharmaceuticals, Inc. in accordance with NASDAQ Listing Rule
5635(c)(4).
About Dicerna Pharmaceuticals, Inc.
Dicerna Pharmaceuticals, Inc. is a biopharmaceutical company
focused on the discovery and development of innovative ribonucleic
acid interference (RNAi)-based therapeutics for diseases involving
the liver, including rare diseases, chronic liver diseases,
cardiovascular diseases, and viral infectious diseases. The Company
is leveraging its proprietary GalXC™ RNAi technology platform to
build a broad pipeline in these core therapeutic areas, focusing on
target genes where connections between target gene and diseases are
well understood and documented. The Company intends to discover,
develop and commercialize novel therapeutics either on its own or
in collaboration with pharmaceutical partners. For more
information, please visit www.dicerna.com.
Cautionary Note on Forward-Looking Statements
This press release includes forward-looking statements. Such
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied in such statements. Applicable risks and
uncertainties include those relating to our preclinical research
and other risks identified under the heading "Risk Factors"
included in our most recent Form 10-Q filing and in other future
filings with the SEC. The forward-looking statements contained in
this press release reflect Dicerna's current views with respect to
future events, and Dicerna does not undertake and specifically
disclaims any obligation to update any forward-looking
statements.
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Investors:Rx Communications GroupPaula
Schwartz, 917-322-2216pschwartz@rxir.comorMedia:SmithSolveAlex
Van Rees, 973-442-1555 ext. 111alex.vanrees@smithsolve.com
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