Protara Therapeutics, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
June 24 2024 - 5:06PM
Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical stage company
developing transformative therapies for the treatment of cancer and
rare diseases, today announced the grant of inducement
non-qualified stock options to purchase an aggregate of 118,400
shares of common stock to Lisa Schlesinger, Protara’s newly
appointed Vice President, Head of New Product Development and
Market Access.
Each stock option has an exercise price per
share equal to $2.23 per share, Protara’s closing trading price on
June 24, 2024, the grant date, and will vest over four years, with
25% of the underlying shares vesting on the one-year anniversary of
the grant date and 1/36th of the underlying shares vesting monthly
thereafter over 36 months subject to Ms. Schlesinger's continued
service relationship with Protara through the applicable vesting
dates.
The independent members of Protara’s Board of
Directors approved the award as an inducement material to Ms.
Schlesinger's employment in accordance with NASDAQ Listing Rule
5635(c)(4).
About Protara Therapeutics, Inc.
Protara is a clinical-stage biotechnology
company committed to advancing transformative therapies for people
with cancer and rare diseases. Protara’s portfolio includes its
lead candidate, TARA-002, an investigational cell-based therapy in
development for the treatment of non-muscle invasive bladder cancer
(NMIBC) and lymphatic malformations (LMs). The Company is
evaluating TARA-002 in an ongoing Phase 2 trial in NMIBC patients
with carcinoma in situ (CIS) who are unresponsive or naïve to
treatment with Bacillus Calmette-Guérin (BCG), as well as a Phase 2
trial in pediatric patients with LMs. Additionally, Protara is
developing IV Choline Chloride, an investigational phospholipid
substrate replacement for patients on parenteral nutrition who are
otherwise unable to meet their choline needs via oral or enteral
routes. For more information, visit www.protaratx.com.
Company Contact:
Justine O'MalleyProtara
TherapeuticsJustine.OMalley@protaratx.com646-817-2836
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