Spero Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
September 29 2023 - 4:05PM
Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset
clinical-stage biopharmaceutical company, focused on identifying,
developing and commercializing treatments in high unmet need areas
involving rare diseases and multi-drug resistant (MDR) bacterial
infections, today announced that on September 27, 2023, the
Compensation Committee of Spero’s Board of Directors approved the
grant of an aggregate of 110,000 restricted stock unit awards
(RSUs) to two new employees under the Spero Therapeutics, Inc. 2019
Inducement Equity Incentive Plan, as amended, or the 2019
Inducement Plan. The RSUs are being granted as inducements material
to the new employees becoming employees of Spero in accordance with
Nasdaq Listing Rule5635(c)(4).
The 2019 Inducement Plan is used exclusively for
the grant of equity awards to individuals who were not previously
employees of Spero (or following a bona fide period of
non-employment), as an inducement material to such individuals,
entering into employment with Spero, pursuant to Rule 5635(c)(4) of
the Nasdaq Listing Rules.
The RSUs will vest in four equal annual
installments beginning on October 2, 2024, subject to the
employee's continued employment with Spero on such vesting dates.
The RSUs are subject to the terms and conditions of the 2019
Inducement Plan and an RSU agreement covering the grant.
About Spero TherapeuticsSpero
Therapeutics, headquartered in Cambridge, Massachusetts, is a
multi-asset, clinical-stage biopharmaceutical company focused on
identifying, developing, and commercializing novel treatments for
bacterial infections, including multi-drug resistant bacterial
infections and rare diseases.
- Spero Therapeutics is developing
SPR720 as a novel oral therapy candidate for the treatment of a
rare, orphan pulmonary disease caused by non-tuberculous
mycobacterial infections.
- Tebipenem HBr is an investigational
drug in the United States being developed for the treatment of
cUTI, including pyelonephritis, caused by certain bacteria, in
adult patients who have limited treatment options; tebipenem HBr is
not FDA-approved.
- Spero Therapeutics also has an
IV-administered next generation polymyxin product candidate,
SPR206, developed from its potentiator platform, which is in
development to treat multi-drug resistant Gram-negative infections
in the hospital setting.
For more information, visit
https://sperotherapeutics.com.
Investor Relations Contact: Ted
JenkinsVice President, Investor Relations and Strategic
FinanceIR@sperotherapeutics.com (617) 798-4039
Media Inquiries:Lora Grassilli, Health Media
RelationsZeno Grouplora.grassilli@zenogroup.com646-932-3735
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