BRIDGEWATER, N.J., Aug. 2, 2019 /PRNewswire/ -- Insmed
Incorporated (Nasdaq:INSM), a global biopharmaceutical company on a
mission to transform the lives of patients with serious and rare
diseases, today announced the granting of inducement awards to five
new employees. In accordance with NASDAQ Listing Rule 5635(c)(4),
the awards were approved by Insmed's Compensation Committee and
made as a material inducement to each employee's entry into
employment with the Company.
In connection with the commencement of their employment, the
employees received options on August 1,
2019 to purchase an aggregate 17,110 shares of Insmed common
stock at an exercise price of $19.24
per share, the closing trading price on the Nasdaq Global Select
Market on the date of grant.
The options have a ten-year term and a four-year vesting
schedule, with 25% of the shares subject to the option vesting on
the first anniversary of the relevant grant date and 12.5% of the
shares subject to the option vesting every six months thereafter
through the fourth anniversary of the relevant grant date, subject
to the relevant employee's continued service with Insmed on the
applicable vesting date.
About Insmed
Insmed Incorporated is a global biopharmaceutical company on a
mission to transform the lives of patients with serious and rare
diseases. Insmed's first commercial product is ARIKAYCE® (amikacin
liposome inhalation suspension), which is approved in the United States for the treatment of
Mycobacterium avium complex (MAC) lung disease as part of a
combination antibacterial drug regimen for adult patients with
limited or no alternative treatment options. MAC lung disease is a
rare and often chronic infection that can cause irreversible lung
damage and can be fatal. Insmed's earlier-stage clinical pipeline
includes INS1007, a novel oral reversible inhibitor of dipeptidyl
peptidase 1 with therapeutic potential in non-cystic fibrosis
bronchiectasis and other inflammatory diseases, and INS1009, an
inhaled formulation of a treprostinil prodrug that may offer a
differentiated product profile for rare pulmonary disorders,
including pulmonary arterial hypertension. For more information,
visit www.insmed.com.
Contact:
Blaine Davis
Head of Investor Relations and Corporate Communications
Insmed Incorporated
(908) 947-2841
blaine.davis@insmed.com
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SOURCE Insmed Incorporated