Dermira Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 11 2018 - 4:05PM
Dermira, Inc. (NASDAQ:DERM), a biopharmaceutical company dedicated
to bringing biotech ingenuity to medical dermatology by delivering
differentiated, new therapies to the millions of patients living
with chronic skin conditions, today announced that on April 9,
2018, the company granted inducement awards to 12 new employees.
The grants were made pursuant to Dermira’s 2018 Equity Inducement
Plan as an inducement material to the employees’ acceptance of
employment with Dermira and were approved by the Compensation
Committee of Dermira’s Board of Directors in accordance with Nasdaq
Listing Rule 5635(c)(4).
The company granted restricted stock unit awards (RSUs)
representing an aggregate of 8,900 shares of Dermira common stock
and stock options to purchase an aggregate of 45,400 shares of
Dermira common stock. One-third of the total number of shares
subject to the RSUs will vest on May 17, 2019 and annually
thereafter until fully vested on the third anniversary, subject to
the employee’s continued service with Dermira on each such vesting
date. One-fourth of the total number of shares underlying the stock
options will vest on the one-year anniversary of the employee’s
date of hire and 1/48th of the total number of shares underlying
the stock options will vest each month thereafter until fully
vested on the fourth anniversary of the employee’s date of hire,
subject to the employee’s continued service with Dermira on each
such vesting date. The stock options have a term of ten years and
an exercise price of $7.21per share, which is equal to the closing
price of Dermira’s common stock on the grant date as reported by
the Nasdaq Global Select Market.
About DermiraDermira is a
biopharmaceutical company dedicated to bringing biotech ingenuity
to medical dermatology by delivering differentiated, new therapies
to the millions of patients living with chronic skin
conditions. Dermira is committed to understanding the
needs of both patients and physicians and using its insight to
identify and develop leading-edge medical dermatology programs.
Dermira’s pipeline includes two late-stage product candidates that
could have a profound impact on the lives of patients:
glycopyrronium tosylate (formerly DRM04), for which a New Drug
Application is under review by the U.S. Food and Drug
Administration for the treatment of primary axillary
hyperhidrosis (excessive underarm sweating beyond what is needed
for normal body temperature regulation), and lebrikizumab, in Phase
2b development for the treatment of moderate-to-severe atopic
dermatitis. Dermira is headquartered in Menlo Park,
Calif. For more information, please
visit http://www.dermira.com. Follow @DermiraInc on Twitter
and LinkedIn.
In addition to filings with the Securities and Exchange
Commission (SEC), press releases, public conference calls and
webcasts, Dermira uses its website (www.dermira.com),
LinkedIn page (https://www.linkedin.com/company/dermira-inc-) and
corporate Twitter account (@DermiraInc) as channels of distribution
of information about its company, product candidates, planned
financial and other announcements, attendance at upcoming investor
and industry conferences and other matters. Such information may be
deemed material information and Dermira may use these
channels to comply with its disclosure obligations under Regulation
FD. Therefore, investors should monitor Dermira’s website, LinkedIn
page and Twitter account in addition to following
its SEC filings, press releases, public conference calls
and webcasts.
Contacts:
Media:Erica JeffersonVice President, Corporate
Communications650-421-7216media@dermira.com
Investors:Ian Clements, Ph.D.Vice President, Investor
Relations650-422-7753investor@dermira.com
Robert H. Uhl Westwicke PartnersManaging
Director858-356-5932robert.uhl@westwicke.com
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