Kezar Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
July 10 2024 - 4:01PM
Business Wire
Kezar Life Sciences, Inc. (Nasdaq: KZR), a clinical-stage
biotechnology company developing novel small molecule therapeutics
to treat unmet needs in immune-mediated diseases and cancer, today
announced that the Compensation Committee of the company’s Board of
Directors granted one employee a nonqualified stock option to
purchase 72,000 shares of its common stock with an exercise price
of $0.55 per share, which is equal to the closing price of Kezar’s
common stock on July 8, 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
each 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 small molecule therapeutics to treat unmet
needs in immune-mediated diseases and cancer. 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/20240710548697/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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