Albireo Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
12 December 2020 - 8:30AM
Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage orphan
pediatric liver disease company developing novel bile acid
modulators, today announced the grant of inducement stock options
exercisable for an aggregate of 18,500 shares of Albireo’s common
stock. The stock options are exercisable at a price of $39.77 per
share, the closing price of Albireo’s common stock on December 9,
2020, the grant date, and were granted as inducements material to
the employee’s acceptance of employment with Albireo in accordance
with Nasdaq Listing Rule 5635(c)(4). Each stock option has a
10-year term and vests over a four-year period, subject to the
employee’s continued service with Albireo through the applicable
vesting dates. The vesting schedule for each stock option is 25
percent on the one-year anniversary of the employee’s start date
with Albireo and 75 percent in 12 equal quarterly installments
thereafter. The stock options are subject to the terms and
conditions of Albireo’s 2020 Inducement Equity Incentive Plan.
About Albireo Albireo
Pharma is a clinical-stage biopharmaceutical company focused on the
development of novel bile acid modulators to treat rare pediatric
and adult liver diseases. Albireo’s lead product candidate,
odevixibat, is being developed to treat rare pediatric cholestatic
liver diseases and is in Phase 3 development in progressive
familial intrahepatic cholestasis (PFIC) and biliary atresia, with
a third Phase 3 trial being planned in Alagille syndrome. Albireo
was spun out from AstraZeneca in 2008. Albireo Pharma is located in
Boston, Massachusetts, and its key operating subsidiary is located
in Gothenburg, Sweden.
Media Contact:Colleen Alabiso,
857-356-3905, colleen.alabiso@albireopharma.comLisa Rivero,
617-947-0899, lisa.rivero@syneoshealth.com
Investor Contact: Hans Vitzthum, LifeSci
Advisors, LLC., 857-272-6177
Albireo Pharma (NASDAQ:ALBO)
Historical Stock Chart
From Apr 2024 to May 2024
Albireo Pharma (NASDAQ:ALBO)
Historical Stock Chart
From May 2023 to May 2024