Strongbridge Biopharma plc Announces New Employment Inducement Awards
14 December 2017 - 11:30PM
Strongbridge Biopharma plc, (Nasdaq:SBBP), a global
commercial-stage biopharmaceutical company focused on the
development and commercialization of therapies for rare diseases
with significant unmet needs, today announced that it has approved
inducement equity awards to 21 individuals who have recently
become, or are expected to become, non-executive employees of the
Company.
The inducement awards are being made in the form
of non-qualified stock options to purchase an aggregate of 391,650
ordinary shares of the Company, and are being made as a material
inducement to these individuals to enter into employment with the
Company pursuant to NASDAQ Listing Rule 5635(c)(4).
The exercise price of the options will be equal
to the closing price of the Company’s ordinary shares on the grant
date. One quarter of the options will vest on the one-year
anniversary of the grant date and the remaining three quarters of
the options will vest in 12 equal quarterly installments following
the one-year anniversary of the grant date, subject to the
employee’s continuous employment with the Company. The options
will have a ten-year term. The options will be subject to the
terms and conditions of the Company’s 2017 Inducement Plan,
pursuant to which the options have been, or will be,
granted.
About Strongbridge
BiopharmaStrongbridge Biopharma is a global
commercial-stage biopharmaceutical company focused on the
development and commercialization of therapies for rare diseases
with significant unmet needs. Strongbridge's first commercial
product is KEVEYIS® (dichlorphenamide), the first and only
FDA-approved treatment for hyperkalemic, hypokalemic, and related
variants of Primary Periodic Paralysis. KEVEYIS has orphan drug
exclusivity status in the U.S. through August 7, 2022. In addition
to establishing this neuromuscular disease franchise, the Company
has a clinical-stage pipeline of therapies for rare endocrine
diseases. Strongbridge's lead compounds include
RECORLEV™ (levoketoconazole), a cortisol synthesis
inhibitor currently being studied for the treatment of endogenous
Cushing's syndrome, and veldoreotide, a next-generation
somatostatin analog being investigated for the treatment of
acromegaly, with potential additional applications in Cushing's
syndrome and neuroendocrine tumors. Both RECORLEV and veldoreotide
have received orphan designation from the U.S. Food and Drug
Administration and the European Medicines Agency. For more
information, visit www.strongbridgebio.com.
Forward-Looking StatementsAll
statements, other than statements of historical facts, contained in
this press release, are forward-looking statements. These
statements relate to future events and involve known and unknown
risks, including, without limitation, uncertainties regarding
Strongbridge's strategy, plans, and objectives of management for
future operations. The words "anticipate," "estimate," "expect,"
"intend," "may," "plan," "potential," "project," "target," "will,"
"would," or the negative of these terms or other similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements are based on
current expectations, estimates, forecasts and projections and are
not guarantees of future performance or development and involve
known and unknown risks, uncertainties and other factors. The
forward-looking statements contained in this press release are made
as of the date of this press release, and Strongbridge
Biopharma does not assume any obligation to update any
forward-looking statements except as required by applicable
law.
Contacts:
Corporate and Media Relations Elixir Health
Public Relations Lindsay Rocco +1 862-596-1304
lrocco@elixirhealthpr.com
Investor RelationsU.S.:The Trout Group Marcy
Nanus +1 646-378-2927 mnanus@troutgroup.com
Europe:First HouseMitra Hagen Negård+47 21 04 62
19strongbridgebio@firsthouse.no
USA 900 Northbrook Drive Suite 200 Trevose,
PA 19053 Tel. +1 610-254-9200 Fax. +1 215-355-7389
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