Adamas Reports Inducement Grant to New Chief Financial Officer
July 10 2017 - 4:33PM
Adamas Pharmaceuticals, Inc. (Nasdaq:ADMS) today reported the grant
of inducement awards to its new Chief Financial Officer, Alfred G.
Merriweather. The compensation committee of the company’s board of
directors granted Mr. Merriweather a stock option to purchase
112,500 shares of the company’s common stock, at a per share
exercise price of $16.98, the closing trading price on July 10,
2017, and restricted stock units to acquire 18,750 shares of the
company’s common stock. The stock option and restricted stock units
vest over four years and were granted pursuant to the Adamas
Pharmaceuticals, Inc. 2016 Inducement Plan, which was approved by
the company's board of directors in March 2016 under Rule
5653(c)(4) of the Nasdaq Global Market for equity grants to induce
new employees to enter into employment with the company.
About Adamas Pharmaceuticals,
Inc.Adamas develops new medicines to improve the daily
lives of those affected by chronic neurologic disorders, including
Parkinson’s disease, multiple sclerosis, epilepsy, and Alzheimer’s
disease. Adamas has pioneered a platform to develop medicines for
chronic neurologic disorders based on an understanding of the
time-dependent biologic processes responsible for disease activity
and drug response. The company’s most advanced product candidate,
ADS-5102, is a high-dose amantadine, taken once-daily at bedtime,
in development for the treatment of levodopa-induced dyskinesia in
people with Parkinson’s disease and for the treatment of walking
impairment in people with multiple sclerosis. A New Drug
Application supporting ADS-5102 for the treatment of
levodopa-induced dyskinesia in people with Parkinson’s disease is
under review by the FDA with a PDUFA date of August 24, 2017.
Adamas is exploring other indications for further development of
ADS-5102. Adamas is also investigating ADS-4101 for the treatment
of partial onset seizures in patients with epilepsy. Additionally,
Adamas’ licensed assets, are currently marketed by Allergan under
the brand names NAMENDA XR® and NAMZARIC®, and Adamas is eligible
to receive royalties on sales of these medicines beginning in June
2018 and May 2020, respectively. For more information, please visit
www.adamaspharma.com.
NAMENDA XR® and NAMZARIC® are trademarks of Merz
Pharma GmbH & Co. KGaA.
Contact:
Ashleigh Barreto
Director, Corporate Communications & Investor Relations
Adamas Pharmaceuticals, Inc.
510-450-3567
ir@adamaspharma.com
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