Ardelyx, Inc. Reports Employment Inducement Grants
20 Dezembro 2023 - 10:00AM
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 18, 2023, the compensation
committee of the company’s board of directors granted sixteen new
non-executive employees options to purchase an aggregate of 257,119
shares of the company’s common stock, and granted eighteen new
non-executive employees an aggregate of 201,981 Restricted Stock
Units (RSUs). Each stock option has an exercise price per share
equal to $6.28 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
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Facebook.
Investor and Media Contacts:
Caitlin Lowieclowie@ardelyx.com
Ardelyx (NASDAQ:ARDX)
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