Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
23 December 2023 - 8:30AM
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a clinical-stage
biopharmaceutical company pursuing novel therapeutics for
nonalcoholic steatohepatitis (NASH), today announced that the
company granted equity awards to thirty-two new employees with a
grant date of December 19, 2023 as equity inducement awards outside
of the Company’s Amended 2015 Stock Plan under the terms of the
company's 2023 Inducement Plan. The equity awards were approved in
accordance with Nasdaq Listing Rule 5635(c)(4).
The equity awards were granted as inducement
material to the employees’ acceptance of employment with the
company. The employees received, in the aggregate, 10,571
time-based restricted stock units. The restricted stock units vest
ratably over four years, subject to each such employee’s continued
employment as of the vesting date.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a
clinical-stage biopharmaceutical company pursuing novel
therapeutics for nonalcoholic steatohepatitis (NASH), a liver
disease with high unmet medical need. Madrigal’s lead candidate,
resmetirom, is a liver-directed THR-β agonist oral therapy that is
designed to target key underlying causes of NASH. For more
information, visit www.madrigalpharma.com.
Investor Contact Alex Howarth,
Madrigal Pharmaceuticals, Inc., IR@madrigalpharma.com
Media ContactChristopher Frates,
Madrigal Pharmaceuticals, Inc., media@madrigalpharma.com
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