Trevena Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
August 31 2017 - 4:01PM
Trevena, Inc. (NASDAQ:TRVN) today announced that the independent
Compensation Committee of the Board of Directors of the Company
approved, effective as of August 28, 2017, the grant of inducement
stock options to purchase 13,500 shares of the Company’s common
stock to Michele Hummel, a new employee. These awards were granted
pursuant to the Trevena, Inc. Inducement Plan as an inducement
material to the new employees entering into employment with the
Company, in accordance with NASDAQ Listing Rule 5635(c)(4).
The stock option has an exercise price per share of $2.37, the
closing stock price on August 28, 2017. The option has a ten-year
term and will vest with respect to one-fourth of the total number
of shares subject to the option on each of first, second, third,
and fourth anniversaries of the grant date.
About Trevena
Trevena, Inc. is a biopharmaceutical company developing
innovative therapies based on breakthrough science to benefit
patients and healthcare providers confronting serious medical
conditions. The Company has discovered four novel and
differentiated drug candidates, including OLINVO™ (oliceridine
injection). Trevena also has discovered TRV250, in early clinical
development for the treatment of migraine, and TRV734 for pain. The
Company maintains an early stage portfolio of drug discovery
programs.
Contacts
Trevena, Inc.
Investors:
Jonathan Violin, Ph.D.
Vice President, Corporate Strategy & Investor Relations
610-354-8840 x231
jviolin@trevena.com
or
Media:
Public Relations
PR@trevena.com
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