Tetraphase Pharmaceuticals Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
July 12 2018 - 4:01PM
Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a biopharmaceutical
company focused on developing and commercializing novel antibiotics
to treat life-threatening multidrug-resistant (MDR) infections,
today announced that Tetraphase's Compensation Committee of the
Board of Directors approved, pursuant to NASDAQ Listing Rule
5635(c)(4), the grant of inducement equity awards in the form of
stock options to four new employees to purchase an aggregate of
60,000 shares of Tetraphase's common stock. The options were
granted as an inducement equity awards outside Tetraphase's 2013
Stock Incentive Plan and were made as an inducement material to
four new employee’s acceptance of employment with Tetraphase.
The stock options have exercise prices equal to the closing
price of Tetraphase's common stock on July 13, 2018. The options
have a ten-year term and vest over four years, with 25% of the
original number of shares vesting on July 13, 2019, and an
additional 6.25% of the original number of shares vesting at the
end of each successive quarter thereafter, subject to the
respective new employee’s continued service with Tetraphase through
the applicable vesting dates.
About Tetraphase Pharmaceuticals,
Inc.Tetraphase is a biopharmaceutical company using its
proprietary chemistry technology to create novel antibiotics for
serious and life-threatening bacterial infections, including those
caused by many of the MDR bacteria highlighted as urgent public
health threats by the Centers for Disease Control and Prevention.
The Company has created more than 3,000 novel tetracycline
compounds using its proprietary technology platform. Tetraphase's
pipeline includes three antibiotic clinical candidates:
eravacycline, which has completed phase 3 clinical trials and is
under review for potential approval in complicated intra-abdominal
infections by the U.S. Food and Drug Administration and the
European Medicines Agency, and TP-271 and TP-6076, which are in
phase 1 clinical trials. Please visit www.tphase.com for more
company information.
Forward-Looking Statements Any statements in
this press release about our future expectations, plans and
prospects, including statements regarding our strategy, future
operations, prospects, plans and objectives, and other statements
containing the words "anticipates," "believes," "expects," "plans,"
"will" and similar expressions, constitute forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors, including: whether the Company's regulatory
submission will receive approval from the United States Food
and Drug Administration or equivalent foreign regulatory
agencies; whether, if any clinical candidate, including
eravacycline, obtains approval, it will be successfully distributed
and marketed; and other factors discussed in the "Risk Factors"
section of our quarterly report on Form 10-Q for the period
ended March 31, 2018, filed with the Securities and
Exchange Commission on May 3, 2018. In addition, the
forward-looking statements included in this press release represent
our views as of July 12, 2018. We anticipate that subsequent
events and developments will cause our views to change. However,
while we may elect to update these forward-looking statements at
some point in the future, we specifically disclaim any obligation
to do so.
Media and Investor Contact: Jennifer Viera
jviera@tphase.com 617-600-7040
Tetraphase Pharmaceuticals (NASDAQ:TTPH)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tetraphase Pharmaceuticals (NASDAQ:TTPH)
Historical Stock Chart
From Sep 2023 to Sep 2024