Ignyta Reports Granting of Inducement Awards
September 15 2017 - 6:00PM
Business Wire
Ignyta, Inc. (Nasdaq: RXDX), a biotechnology company
focused on precision medicine in oncology, announced today that it
has issued an inducement award to one new non-executive
employee.
The award was made on September 15, 2017, under Ignyta’s 2017
Employment Inducement Equity Incentive Award Plan, which was
adopted August 17, 2017, and provides for the granting of equity
awards to new employees of Ignyta. The inducement award was not
individually negotiated and consists of an option to purchase an
aggregate of 8,400 shares of Ignyta common stock and has a ten-year
term. The exercise price of the option was $11.65, which was the
per-share closing price of Ignyta’s common stock on the Nasdaq
Capital Market on September 15, 2017. The option vests over a
four-year period, with 25% vesting on the first anniversary of the
date of hire and the remainder vesting in equal monthly
installments over the three years thereafter. The award was
approved by the independent compensation committee of Ignyta’s
board of directors and was granted as an inducement material to the
new employee entering into employment with Ignyta in accordance
with Nasdaq Marketplace Rule 5635(c)(4).
About Ignyta, Inc.
Blazing a New Future for Patients with
Cancer™
At Ignyta, we work tirelessly on behalf of patients with cancer
to offer potentially life-saving, precisely targeted therapeutics
(Rx) guided by diagnostic (Dx) tests. Our integrated Rx/Dx strategy
allows us to enter uncharted territory, illuminating the molecular
drivers of cancer and quickly advancing treatments to address them.
This approach embraces even those patients with rare cancers, who
have the highest unmet need and who may otherwise not have access
to effective treatment options. With our pipeline of potentially
first-in-class or best-in-class precision medicines, we are
pursuing the ultimate goal of not just shrinking tumors, but
eradicating cancer relapse and recurrence in precisely defined
patient populations.
For more information, please visit: www.ignyta.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170915005904/en/
Ignyta, Inc.Jacob Chacko, M.D.CFO858-255-5959jc@ignyta.com
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