NEWARK,
Calif., July 19, 2022 /PRNewswire/ -- Protagonist
Therapeutics, Inc. (Nasdaq: PTGX) today reported that on
July 15, 2022, it issued an
inducement award to Karen Peterson,
the Company's recently hired Vice President, Controller, in
accordance with the terms of Ms. Peterson's employment offer
letter. The award was granted under the Protagonist Therapeutics
Amended and Restated Inducement Plan, which was adopted
May 29, 2018, and amended
February 18, 2020 and February 15, 2022.
The inducement award consists of an option to purchase 25,000
shares of Protagonist Therapeutics common stock and has a ten-year
term. The exercise price of the options is $9.46, which was the per-share closing price of
Protagonist Therapeutics common stock on the Nasdaq Global Market
on July 15, 2022. The shares subject
to the option vest over a four-year period, with 25 percent of the
shares subject to the option vesting on the first anniversary of
Ms. Peterson's date of hire and the remainder vesting in equal
monthly installments over three years thereafter. The award was
approved by the compensation committee of the Company's board of
directors and was granted as a material inducement to Ms.
Peterson's entering into employment with the Company in accordance
with Nasdaq Marketplace Rule 5635(c)(4).
About Protagonist Therapeutics
Protagonist Therapeutics is a biopharmaceutical company with
peptide-based new chemical entities rusfertide, PN-943, and PN-235
in different stages of clinical development, all derived from the
Company's proprietary technology platform. Rusfertide, a mimetic of
the natural hormone hepcidin, is the Company's lead drug candidate.
VERIFY, the global Phase 3 registrational study of rusfertide in
polycythemia vera, is currently underway. Protagonist is
headquartered in Newark,
California. For more information on Protagonist, please
visit the Company's website at www.protagonist-inc.com.
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SOURCE Protagonist Therapeutics, Inc.