Albireo Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
February 17 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 $38.39 per share, the closing
price of Albireo’s common stock on February 16, 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.
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 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. The Boston Business
Journal named Albireo one of the 2020 Best Places to Work
in Massachusetts for the second consecutive year. For more
information on Albireo, please
visit www.albireopharma.com.
Media & Investor contacts:Colleen Alabiso,
857-356-3905, colleen.alabiso@albireopharma.com
Hans Vitzthum, LifeSci Advisors, LLC., 617-430-7578
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