SAN
DIEGO, Jan. 13, 2023 /PRNewswire/ -- Regulus
Therapeutics Inc. (Nasdaq: RGLS), a biopharmaceutical company
focused on the discovery and development of innovative medicines
targeting microRNAs (the "Company" or "Regulus"), today announced
the grant of an inducement stock option to Claire Padgett, Ph.D. and to Rekha Garg, M.D., M.S., on January 11, 2023 in connection with their
respective appointments as Regulus' Senior Vice President, Clinical
Operations and Senior Vice President, Clinical Development and
Regulatory. The grants in accordance with NASDAQ Listing Rule
5635(c)(4) are an inducement material to Dr. Padgett's and Dr.
Garg's acceptance of employment with Regulus.
![Regulus Therapeutics Inc. Logo Regulus Therapeutics Inc. Logo](https://mma.prnewswire.com/media/370141/regulus_logo_finalnew_Logo.jpg)
In connection with their hiring, each of Dr. Padgett and Dr.
Garg received an option to purchase 120,000 shares of Regulus'
common stock, with an exercise price of $1.48 per share, which is equal to the fair
market value on the grant date. The option has a 10-year term and
vests over a period of four years, with 25% vesting on December 1, 2023, which is one year following the
date of commencement of vesting and the remaining 75% vesting
ratably over the succeeding thirty-six months, subject to their
continuous service through each vesting date, and subject to the
terms and conditions of Regulus' Inducement Plan and stock option
grant notice and agreement thereunder.
About Regulus
Regulus Therapeutics Inc. (Nasdaq: RGLS) is a biopharmaceutical
company focused on the discovery and development of innovative
medicines targeting microRNAs. Regulus has leveraged its
oligonucleotide drug discovery and development expertise to develop
a pipeline complemented by a rich intellectual property estate in
the microRNA field. Regulus maintains its corporate
headquarters in San Diego,
CA.
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SOURCE Regulus Therapeutics Inc.