EyePoint Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
February 16 2024 - 7:00AM
EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a company committed
to developing and commercializing therapeutics to help improve the
lives of patients with retinal diseases, today announced that the
Company granted non-statutory stock options to new employees as
inducement awards outside the Company’s 2023 Long-Term Incentive
Plan in accordance with NASDAQ Listing Rule 5635(c)(4).
The Company granted stock options to purchase up
to an aggregate of 49,000 shares of EyePoint Pharmaceuticals common
stock to five new employees. The stock options were granted on
February 15, 2024. The grants were approved by the Compensation
Committee and made as an inducement material to each employee
entering into employment with EyePoint Pharmaceuticals in
accordance with NASDAQ Listing Rule 5635(c)(4). The option awards
have an exercise price of $29.08 per share, the closing price of
EyePoint Pharmaceuticals’ common stock on February 15, 2024. The
options have a ten-year term and vest over four years, with 25% of
the original number of shares vesting on the first anniversary of
the applicable employee’s date of grant and the remainder vesting
in equal monthly installments over the following three years.
Vesting of the options is subject to the employee’s continued
service with EyePoint Pharmaceuticals through the applicable
vesting dates.
About EyePoint
Pharmaceuticals
EyePoint Pharmaceuticals (Nasdaq: EYPT) is a
clinical-stage biopharmaceutical company committed to developing
and commercializing therapeutics to help improve the lives of
patients with serious retinal diseases. The Company's pipeline
leverages its proprietary bioerodible Durasert E™ technology for
sustained intraocular drug delivery. The Company’s lead product
candidate, EYP-1901, is an investigational sustained delivery
treatment for VEGF-mediated retinal diseases combining vorolanib, a
selective and patent-protected tyrosine kinase inhibitor with
Durasert E™. Pipeline programs include EYP-2301, a promising TIE-2
agonist, razuprotafib, f/k/a AKB-9778, formulated in Durasert E™ to
potentially improve outcomes in serious retinal diseases. The
proven Durasert® drug delivery technology has been safely
administered to thousands of patient eyes across four U.S. FDA
approved products. EyePoint Pharmaceuticals is headquartered in
Watertown, Massachusetts.
Vorolanib is licensed to EyePoint exclusively by
Equinox Sciences, a Betta Pharmaceuticals affiliate, for the
localized treatment of all ophthalmic diseases outside of China,
Macao, Hong Kong and Taiwan.
For EyePoint Pharmaceuticals:
Investors:Christina TartagliaStern
IRDirect: 212-698-8700christina.tartaglia@sternir.com
Media Contact:Amy PhillipsGreen
Room CommunicationsDirect:
412-327-9499aphillips@greenroompr.com
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