Albireo Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
January 14 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 $37.22 per share, the closing
price of Albireo’s common stock on January 11, 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 headquarteredin Boston, Massachusetts,
with its key operating subsidiary in Gothenburg, Sweden.
Media & Investor contacts:Colleen Alabiso,
857-356-3905, colleen.alabiso@albireopharma.com Hans Vitzthum,
LifeSci Advisors, LLC., 617-430-7578
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