Albireo Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
January 06 2021 - 4:30PM
Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage rare liver
disease company developing novel bile acid modulators, today
announced the grant of inducement stock options exercisable for an
aggregate of 18,500 shares of Albireo’s common stock. The stock
options are exercisable at a price of $36.98 per share, the closing
price of Albireo’s common stock on January 4, 2021, the grant date,
and were granted as inducements material to the employee’s
acceptance of employment with Albireo in accordance with Nasdaq
Listing Rule 5635(c)(4). Each stock option has a 10-year term and
vests over a four-year period, subject to the employee’s continued
service with Albireo through the applicable vesting dates. The
vesting schedule for each stock option is 25 percent on the
one-year anniversary of the employee’s start date with Albireo and
75 percent in 12 equal quarterly installments thereafter. The stock
options are subject to the terms and conditions of Albireo’s 2020
Inducement Equity Incentive Plan.
About AlbireoAlbireo Pharma is a
clinical-stage biopharmaceutical company focused on the development
of novel bile acid modulators to treat rare pediatric and adult
liver diseases and disorders. Albireo’s lead product candidate,
odevixibat, is being developed to treat rare pediatric cholestatic
liver diseases with Phase 3 pivotal trials in PFIC, Alagille
syndrome and biliary atresia. The Company completed IND-enabling
studies for new preclinical candidate A3907 this year and plans to
advance development in adult liver disease. Albireo was spun out
from AstraZeneca in 2008 and is headquartered
in Boston, Massachusetts, with its key operating
subsidiary in Gothenburg, Sweden.
Media & Investor contacts:Colleen Alabiso,
857-356-3905, colleen.alabiso@albireopharma.comHans Vitzthum,
LifeSci Advisors, LLC., 857-272-6177
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