Dicerna Pharmaceuticals, Inc. Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
January 08 2019 - 4:05PM
Business Wire
Dicerna Pharmaceuticals, Inc. (NASDAQ: DRNA), (the “Company”), a
leading developer of investigational RNA interference (RNAi)
therapeutics, today announced that on January 2, 2019, the
Compensation Committee of the Company's Board of Directors approved
the grant of inducement stock options to purchase a total of
182,000 shares of common stock to be distributed among nine new
employees, with a grant date of January 2, 2019 (the "Inducement
Grant").
The stock options approved under the Inducement Grant were
issued pursuant to Dicerna’s 2016 Inducement Plan and have an
exercise price per share equal to $11.77, the fair market value on
the grant date. The stock options vest over four years, with 25%
vesting on the one-year anniversary of the employees’ first days of
employment with the Company and 1/36 of the remaining shares
vesting monthly thereafter, subject to the new employees’ continued
service relationship with the Company on each such date. The stock
options have a 10-year term and are subject to the terms and
conditions of the applicable stock option agreement.
The stock options were granted as inducement materials to nine
new employees entering into employment with Dicerna
Pharmaceuticals, Inc. in accordance with NASDAQ listing Rule
5635(c)(4).
About Dicerna Pharmaceuticals, Inc.
Dicerna Pharmaceuticals, Inc., is a biopharmaceutical company
focused on the discovery and development of innovative,
subcutaneously delivered RNAi-based therapeutics for the treatment
of diseases involving the liver, including rare diseases, chronic
liver diseases, cardiovascular diseases, and viral infectious
diseases. Dicerna is leveraging its proprietary GalXC™ RNAi
technology platform to build a broad pipeline in these core
therapeutic areas, focusing on target genes where connections
between target gene and diseases are well understood and
documented. Dicerna intends to discover, develop and commercialize
novel therapeutics either on its own or in collaboration with
pharmaceutical partners. Dicerna has strategic collaborations with
Boehringer Ingelheim, Eli Lilly and Company, and Alexion
Pharmaceuticals. For more information, please visit
www.dicerna.com.
Cautionary Note on Forward-Looking Statements
This press release includes forward-looking statements. Such
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied in such statements. Examples of
forward-looking statements include, among others, statements we
make regarding: (i) the therapeutic and commercial potential of
GalXC™; (ii) research and development plans related to GalXC; and
(iii) the potential of our technology and drug candidates in our
research and development pipeline. The process by which an early
stage platform such as GalXC could potentially lead to an approved
product is long and subject to highly significant risks,
particularly with respect to a pre-clinical research collaboration.
Applicable risks and uncertainties include those relating to our
preclinical research and other risks identified under the heading
"Risk Factors" included in our most recent Form 10-Q filing and in
other future filings with the SEC. The forward-looking statements
contained in this press release reflect Dicerna's current views
with respect to future events, and Dicerna does not undertake and
specifically disclaims any obligation to update any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190108005992/en/
Investor Contact:Rx Communications GroupPaula Schwartz,
917-322-2216pschwartz@rxir.com
Media Contact:SmithSolveAlex Van Rees, 973-442-1555 ext.
111alex.vanrees@smithsolve.com
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