Abeona Therapeutics Announces New Employee Inducement Grants
Abeona Therapeutics Inc. (Nasdaq: ABEO) announced the granting of equity awards to six new employees as part of an inducement for their employment. On March 23, 2023, a total of 131,750 restricted shares of common stock were awarded. These shares will vest one-quarter every year over four years, contingent on continued employment. The compensation committee approved these grants under Nasdaq Rule 5635(c)(4). Abeona focuses on developing cell and gene therapies for serious diseases, including its lead program EB-101 for recessive dystrophic epidermolysis bullosa.
- Equity awards granted to new employees could attract and retain talent.
- Inducement grants show commitment to strengthening the team and advancing clinical programs.
- Dependency on new hires may indicate previous staffing challenges or turnover.
NEW YORK and CLEVELAND, March 24, 2023 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (Nasdaq: ABEO) today announced it has granted equity awards to new employees who joined Abeona.
On March 23, 2023, Abeona granted restricted stock equity awards to six employees as an inducement for them to accept employment, which equity awards relate to, in the aggregate, up to 131,750 restricted shares of Abeona common stock. One-quarter (1/4) of the shares subject to such restricted stock awards vesting on the first anniversary of the grant date, conditioned upon each employee’s continued employment on the vesting date(s).
The inducement grants were approved by Abeona’s Compensation Committee of the Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as a material inducement to employment in accordance with Nasdaq Rule 5635(c)(4).
About Abeona Therapeutics
Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company developing cell and gene therapies for serious diseases. Abeona’s lead clinical program is EB-101, its investigational autologous, engineered cell therapy currently in development for recessive dystrophic epidermolysis bullosa. The Company’s development portfolio also features AAV-based gene therapies for ophthalmic diseases with high unmet medical need. Abeona’s novel, next-generation AAV capsids are being evaluated to improve tropism profiles for a variety of devastating diseases. Abeona’s fully integrated cell and gene therapy cGMP manufacturing facility produces EB-101 for the pivotal Phase 3 VIITAL™ study and is capable of clinical and potential commercial production of AAV-based gene therapies. For more information, visit www.abeonatherapeutics.com.
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