Ardelyx, Inc. Reports Employment Inducement Grants
12 January 2024 - 11:56PM
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 January 10, 2024, the
compensation committee of the company’s board of directors granted
two new non-executive employees options to purchase an aggregate of
23,580 shares of the company’s common stock, and granted three new
non-executive employees an aggregate of 33,300 Restricted Stock
Units (RSUs). Each stock option has an exercise price equal
to $9.08 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 has two commercial
products approved in the United States, IBSRELA® (tenapanor) and
XPHOZAH® (tenapanor) as well as early-stage pipeline candidates.
Ardelyx has agreements for the development and commercialization of
tenapanor outside of the U.S. Kyowa Kirin has received approval for
PHOZEVEL® (tenapanor) for hyperphosphatemia in Japan. A New Drug
Application for tenapanor for hyperphosphatemia has been submitted
in China with Fosun Pharma. Knight Therapeutics commercializes
IBSRELA in Canada. For more information, please visit
https://ardelyx.com/ and connect with us on X (formerly known as
Twitter), LinkedIn and Facebook.
Investor and Media Contacts:Caitlin
Lowieclowie@ardelyx.com
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