WALTHAM,
Mass., Dec. 23, 2022 /PRNewswire/ -- Ardelyx,
Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a
mission to discover, develop and commercialize innovative
first-in-class medicines that meet significant unmet medical needs,
today announced that on December 16,
2022, the compensation committee of the company's board of
directors granted 17 new non-executive employees options to
purchase an aggregate of 271,735 shares of the company's common
stock, and an aggregate of 123,375 Restricted Stock Units
(RSUs). Each stock option has an exercise price per share
equal to $1.96 per share, which was
the closing trading price of the company's common stock on the date
of grant. The stock options and RSUs were granted as inducements
material to each employee's decision to enter into employment with
Ardelyx, in accordance with Nasdaq Listing Rule 5635(c)(4).
Each stock option vests over four years, with 25% of the shares
vesting on the first anniversary of the employee's first date of
employment, and the remaining 75% of shares vesting monthly
thereafter. Each RSU vests over four years, with 25% vesting on the
first company designated quarterly RSU vest date following the
first anniversary of the employee's first day of employment, and
the remaining 75% of shares vesting quarterly thereafter. Each
stock option has a 10-year term, and each option and RSU is subject
to the terms and conditions of the company's 2016 Employment
Commencement Incentive Plan and the award agreement covering the
grant.
About Ardelyx, Inc.
Ardelyx was founded with a mission
to discover, develop and commercialize innovative first-in-class
medicines that meet significant unmet medical needs. Ardelyx's
first approved product, IBSRELA® (tenapanor) is
available in the United States and
Canada. Ardelyx is developing
XPHOZAH® (tenapanor), a novel product candidate to
control serum phosphorus in adult patients with CKD on dialysis,
which has completed three successful Phase 3 trials. Ardelyx has a
Phase 2 potassium lowering compound, RDX013, for the potential
treatment of elevated serum potassium, or hyperkalemia, a problem
among certain patients with kidney and/or heart disease and an
early-stage program in metabolic acidosis, a serious electrolyte
disorder in patients with CKD. Ardelyx has established agreements
with Kyowa Kirin in Japan, Fosun
Pharma in China and Knight
Therapeutics in Canada for the
development and commercialization of tenapanor in their respective
territories. For more information, please visit
https://ardelyx.com/ and connect with us on Twitter @Ardelyx,
LinkedIn and Facebook.
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SOURCE Ardelyx