CV Therapeutics Reports Option Grants Under Nasdaq Marketplace Rule 4350
February 21 2007 - 7:00AM
PR Newswire (US)
PALO ALTO, Calif., Feb. 21 /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 23 non-executive employees due to
additional hiring, primarily in connection with its
commercialization efforts in the United States. The inducement
stock options cover an aggregate 32,600 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' approved product,
Ranexa(R) (ranolazine extended-release tablets), is indicated for
the treatment of chronic angina in patients who have not achieved
an adequate response with other antianginal drugs, and should be
used in combination with amlodipine, beta-blockers or nitrates. CV
Therapeutics also has other clinical and preclinical drug
development candidates and programs, including regadenoson, which
is being developed for potential use as a pharmacologic stress
agent in myocardial perfusion imaging studies and CVT-6883, which
is being developed as a potential treatment for asthma and other
conditions. Regadenoson and CVT-6883 have not been determined by
any regulatory authorities to be safe or effective in humans for
any use. DATASOURCE: CV Therapeutics, Inc. CONTACT: John Bluth,
Senior Director, Corporate Communications & Investor Relations,
CV Therapeutics, Inc., +1-650-384-8850 Web site:
http://www.cvt.com/
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