CV Therapeutics Reports Option Grants Under Nasdaq Marketplace Rule 4350
December 15 2005 - 5:00PM
PR Newswire (US)
PALO ALTO, Calif., Dec. 15 /PRNewswire-FirstCall/ -- CV
Therapeutics, Inc. (NASDAQ:CVTX) announced today that, in
accordance with Nasdaq marketplace rule 4350, the Company issued
new inducement stock options to 17 non-executive employees due to
additional hiring, primarily in connection with its
commercialization efforts to co-promote ACEON(R) (perindopril
erbumine) Tablets in the United States. The inducement stock
options cover an aggregate 47,750 shares of common stock and are
classified as non-qualified stock options with an exercise price
equal to the fair market value on the grant date. The options have
a 10 year term and vest over four years as follows: 20 percent of
these options will vest on the date one year from the optionee's
hire date, 20 percent of the options will vest in monthly
increments during each of the second and third years, and 40
percent of the options will vest in monthly increments during the
fourth year (in all cases subject to the terms and conditions of CV
Therapeutics 2004 Employment Commencement Incentive Plan). About CV
Therapeutics CV Therapeutics, Inc., headquartered in Palo Alto,
California, is a biopharmaceutical company focused on applying
molecular cardiology to the discovery, development and
commercialization of novel, small molecule drugs for the treatment
of cardiovascular diseases. CV Therapeutics currently has three
programs in commercial or late-stage development: ACEON(R)
(perindopril erbumine) Tablets, Ranexa(TM) (ranolazine) and
regadenoson. CV Therapeutics also has other clinical and
preclinical drug development candidates and programs. The company
co-promotes ACEON(R), an ACE inhibitor, for the treatment of
essential hypertension and reduction of the risk of cardiovascular
mortality or non-fatal myocardial infarction in patients with
stable coronary artery disease. Ranexa is being developed as a
novel potential treatment for chronic angina. Regadenoson is being
developed for potential use as a pharmacologic stress agent in
myocardial perfusion imaging studies. Ranexa and regadenoson have
not been approved for marketing by any regulatory authorities.
Except for the historical information contained herein, the matters
set forth in this press release, including statements as to
development, clinical studies, regulatory review and approval, and
commercialization of products, are forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that may cause
actual results to differ materially, including, early stage of
development; regulatory review and approval of our products; the
conduct and timing of clinical trials; the dependence on
collaborative and licensing agreements; commercialization of
products; market acceptance of products; and other risks detailed
from time to time in CV Therapeutics' SEC reports, including its
Quarterly Report on Form 10-Q for the quarter ended September 30,
2005. CV Therapeutics disclaims any intent or obligation to update
these forward-looking statements. DATASOURCE: CV Therapeutics, Inc.
CONTACT: Investors: Christopher Chai, Vice President, Treasury and
Investor Relations, +1-650-384-8560, or, Media: John Bluth, Senior
Director, Corporate Communications, +1-650-384-8850, both of CV
Therapeutics, Inc. Web site: http://www.cvt.com/
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