Kezar Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
March 08 2024 - 4:05PM
Business Wire
Kezar Life Sciences, Inc. (Nasdaq: KZR), a clinical-stage
biotechnology company developing breakthrough treatments for
immune-mediated and oncologic disorders, today announced that the
Compensation Committee of the company’s Board of Directors granted
one employee a nonqualified stock option to purchase 36,000 shares
of its common stock with an exercise price of $1.03 per share,
which is equal to the closing price of Kezar’s common stock on
March 5, 2024, the grant date of the award. The stock option was
granted as an inducement award material to the individual entering
into employment with Kezar, in accordance with Nasdaq Listing Rule
5635(c)(4).
The stock option will vest over a four-year period, with 25% of
the option vesting on the first anniversary of the employee’s start
date, and 1/48th of the total shares vesting monthly thereafter,
subject to continued employment on each vesting date. The option is
subject to the terms and conditions of Kezar’s 2022 Inducement Plan
and the stock option agreement covering the grant.
About Kezar Life Sciences
Kezar Life Sciences is a clinical-stage biopharmaceutical
company developing novel treatments for immune-mediated and
oncologic disorders. Zetomipzomib, a selective immunoproteasome
inhibitor, is currently being evaluated in a Phase 2b clinical
trial for lupus nephritis and a Phase 2a clinical trial for
autoimmune hepatitis. This product candidate also has the potential
to address multiple chronic immune-mediated diseases. Kezar’s
oncology product candidate, KZR-261, targeting the Sec61 translocon
and protein secretion pathway, is being evaluated in an open-label
dose-escalation Phase 1 clinical trial to assess safety,
tolerability and preliminary tumor activity in solid tumors. For
more information, visit www.kezarlifesciences.com, and follow us on
LinkedIn, Facebook, Twitter and Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20240308295302/en/
Investor and Media Contact: Gitanjali Jain Vice President,
Investor Relations and External Affairs Kezar Life Sciences, Inc.
gjain@kezarbio.com
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