Protara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 19 2021 - 4:09PM
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 120,000 shares of common stock to Martín Sebastian
Olivo, M.D., Protara’s newly appointed Chief Medical Officer.
Each stock option has an exercise price per
share equal to $15.30 per share, Protara’s closing trading price on
April 19, 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
employee’s 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'Malley Protara
TherapeuticsJustine.OMalley@protaratx.com 646-817-2836
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