BRIDGEWATER, N.J., Oct. 7, 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 15 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 October 1,
2019 to purchase an aggregate 46,170 shares of Insmed common
stock at an exercise price of $17.20
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