Adamas Reports Inducement Grant to New Chief Operating Officer
May 05 2017 - 5:43PM
Adamas Pharmaceuticals, Inc. (Nasdaq:ADMS) today reported the grant
of inducement awards to its new Chief Operating Officer, Richard A.
King. The compensation committee of the company’s board of
directors granted Mr. King a stock option to purchase 168,750
shares of the company’s common stock, at a per share exercise price
of $17.40, the closing trading price on May 5, 2017, and restricted
stock units to acquire 28,125 shares of the company’s common stock.
The stock option and restricted stock units vest over four years
and were granted pursuant to the Adamas Pharmaceuticals, Inc. 2016
Inducement Plan, which was approved by the company's board of
directors in March 2016 under Rule 5653(c)(4) of the Nasdaq Global
Market for equity grants to induce new employees to enter into
employment with the company.
About Adamas Pharmaceuticals,
Inc.Adamas develops new medicines to improve the daily
lives of those affected by chronic neurologic disorders, including
Parkinson’s disease, multiple sclerosis, epilepsy and Alzheimer’s
disease. Adamas has pioneered a platform to develop medicines,
called chrono-synchronous therapies, for chronic neurologic
disorders based on an understanding of the time-dependent biologic
processes responsible for disease activity and drug response to
potentially achieve symptomatic relief without tolerability issues.
The company’s most advanced product candidate, ADS-5102, is in
development for levodopa-induced dyskinesia in patients with
Parkinson’s disease. A New Drug Application supporting ADS-5102 for
the treatment of levodopa-induced dyskinesia in patients with
Parkinson’s disease is under review by the U.S. Food and Drug
Administration, with a PDUFA date of August 24, 2017. Adamas is
exploring other indications for ADS-5102 for further development.
Adamas is also investigating ADS-4101 for the treatment of partial
onset seizures in patients with epilepsy. Additionally, Adamas’
licensed assets, are currently marketed by Allergan under the brand
names NAMENDA XR® and NAMZARIC®, and Adamas is eligible to receive
royalties on sales of these medicines beginning in June 2018 and
May 2020, respectively. For more information, please visit
www.adamaspharma.com.
NAMENDA XR® and NAMZARIC® are trademarks of Merz
Pharma GmbH & Co. KGaA.
Contact:
Martin Forrest
Vice President, Corporate Communications & Investor Relations
Adamas Pharmaceuticals, Inc.
510-450-3528
ir@adamaspharma.com
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