Prothena Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
February 05 2021 - 4:05PM
Prothena Announces Inducement Grant Under Nasdaq Listing Rule
5635(c)(4)
Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical
company with expertise in protein dysregulation and a pipeline of
investigational therapeutics for rare peripheral amyloid
and neurodegenerative diseases, today announced that in
connection with hiring three new employees, the compensation
committee of the Company’s board of directors granted the
individuals hired by the Company, in the aggregate, options to
purchase 75,000 ordinary shares of the Company. The options have an
exercise price per share equal to $11.00, which was the closing
trading price on February 1, 2021, the date of the grants. The
inducement awards will vest over four years, with 25% of the
underlying shares vesting on the one-year anniversary of the date
of grants and 1/48th of the underlying shares vesting monthly
thereafter over 36 months. The options were granted pursuant to the
Company’s 2020 Employment Inducement Incentive Plan, which was
approved by the Company’s board of directors under Rule 5635(c)(4)
of The Nasdaq Global Market for equity grants to induce new
employees to enter into employment with the Company.
About Prothena
Prothena Corporation plc is a late-stage
clinical company with expertise in protein dysregulation and a
pipeline of novel investigational therapeutics with the potential
to change the course of devastating neurodegenerative and rare
peripheral amyloid diseases. Fueled by its deep scientific
expertise built over decades of research, Prothena is advancing a
pipeline of therapeutic candidates for a number of indications and
novel targets for which its ability to integrate scientific
insights around neurological dysfunction and the biology of
misfolded proteins can be leveraged. Prothena’s wholly-owned
programs include birtamimab for the potential treatment of AL
amyloidosis, PRX004 for the potential treatment of ATTR
amyloidosis, and a portfolio of programs for the potential
treatment of Alzheimer’s disease including PRX012 that targets Aβ
(Amyloid beta). Prothena’s partnered programs include prasinezumab
(PRX002/RG7935), in collaboration with Roche for the potential
treatment of Parkinson’s disease and other related
synucleinopathies, and programs that target tau (PRX005), TDP-43
and an undisclosed target in collaboration with Bristol-Myers
Squibb for the potential treatment of Alzheimer’s disease,
amyotrophic lateral sclerosis (ALS), frontotemporal dementia (FTD)
or other neurodegenerative diseases. For more information, please
visit the Company’s website at www.prothena.com and follow the
Company on Twitter @ProthenaCorp.
Contacts:
MediaEllen Rose, Head of
Communications650-922-2405, ellen.rose@prothena.com
InvestorsJennifer Zibuda,
Director, Investor Relations & Communications650-837-8535,
jennifer.zibuda@prothena.com
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