BRIDGEWATER, N.J., April 3, 2020 /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 13 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 April 1,
2020 to purchase an aggregate 170,750 shares of Insmed
common stock at an exercise price of $14.11 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, ARIKAYCE® (amikacin
liposome inhalation suspension), is the first and only therapy
approved in the United States for
the treatment of refractory 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 chronic, debilitating condition that
can cause severe and permanent lung damage. 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:
Investors:
Argot Partners
Laura Perry or Heather Savelle
(212) 600-1902
insmed@argotpartners.com
Media:
Mandy Fahey
Senior Director, Corporate Communications
Insmed
(732) 718-3621
amanda.fahey@insmed.com
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SOURCE Insmed Incorporated