Protara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 02 2021 - 8:00AM
Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical stage company
developing transformative therapies for the treatment of cancer and
rare diseases with significant unmet needs, today announced the
grants of inducement non-qualified stock options to purchase an
aggregate of 44,500 shares of common stock to five new employees.
Each stock option has an exercise price per
share equal to $17.83 per share, Protara’s closing trading price on
February 1, 2021, the grant date, and will vest over four years,
with 25% of the underlying shares vesting on the one-year
anniversary of the individual’s applicable vesting commencement
date and 1/36th of the underlying shares vesting monthly thereafter
over 36 months subject to the new employee's continued service
relationship with Protara through the applicable vesting dates.
The Compensation Committee of Protara’s Board of
Directors approved the awards as an inducement material to the new
employees’ employment in accordance with NASDAQ Listing Rule
5635(c)(4).
About Protara Therapeutics
Protara is committed to identifying and advancing transformative
therapies for people with cancer and rare diseases with limited
treatment options. Protara’s portfolio includes its lead program,
TARA-002, an investigational cell-based therapy being developed for
the treatment of non-muscle invasive bladder cancer and lymphatic
malformations, and IV Choline Chloride, an investigational
phospholipid substrate replacement therapy for the treatment of
intestinal failure-associated liver disease. For more information,
visit www.protaratx.com.
Company Contact:
Justine O'MalleyProtara
TherapeuticsJustine.OMalley@protaratx.com646-817-2836
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