Zosano Pharma Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
November 16 2020 - 6:30PM
Zosano Pharma Corporation (NASDAQ:ZSAN), a clinical-stage
biopharmaceutical company, today announced that the Compensation
Committee of the Board of Directors granted a stock option to
purchase 100,000 shares of Zosano’s common stock to a new employee
as an inducement award.
The stock option has an exercise price of
$0.4777 per share, which is equal to the closing price of Zosano’s
common stock on November 16, 2020. 25% of the shares underlying the
option will vest on November 16, 2021, and 1/48th of the total
shares will vest monthly thereafter, subject to continued
service.
The award was approved in accordance with Nasdaq Listing Rule
5635(c)(4).
About Zosano Pharma
Zosano Pharma Corporation is a clinical-stage
biopharmaceutical company focused on developing products where
rapid administration of approved molecules with established safety
and efficacy profiles may provide substantial benefit to patients,
in markets where patients remain underserved by existing therapies.
The company’s transdermal microneedle system technology consists of
titanium microneedles coated with drug that are designed to enable
rapid systemic administration of therapeutics to patients. Zosano’s
lead product candidate is Qtrypta™ (M207), which is a proprietary
formulation of zolmitriptan designed to be delivered via its
transdermal microneedle system technology, as an acute treatment
for migraine. Learn more at www.zosanopharma.com.
Zosano Contacts:Christine MatthewsChief
Financial Officer510-745-1200
Zosano PR:Sylvia Wheeler or Alexandra
Santosswheeler@wheelhouselsa.com or asantos@wheelhouselsa.com
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