Albireo Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Albireo Pharma (Nasdaq: ALBO) announced the grant of inducement stock options for 18,500 shares at $39.77 each, equal to the closing stock price on December 9, 2020. These options are part of the company’s strategy to attract employees and will vest over four years. Albireo focuses on developing novel bile acid modulators for rare liver diseases, with its lead candidate, odevixibat, in Phase 3 trials for conditions like progressive familial intrahepatic cholestasis and biliary atresia.

Positive

• The grant of stock options aims to attract talent, enhancing workforce stability.
• Odevixibat is in advanced Phase 3 development, potentially leading to future revenue growth.

Negative

• None.

BOSTON, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, today announced the grant of inducement stock options exercisable for an aggregate of 18,500 shares of Albireo’s common stock. The stock options are exercisable at a price of $39.77 per share, the closing price of Albireo’s common stock on December 9, 2020, the grant date, and were granted as inducements material to the employee’s acceptance of employment with Albireo in accordance with Nasdaq Listing Rule 5635(c)(4). Each stock option has a 10-year term and vests over a four-year period, subject to the employee’s continued service with Albireo through the applicable vesting dates. The vesting schedule for each stock option is 25 percent on the one-year anniversary of the employee’s start date with Albireo and 75 percent in 12 equal quarterly installments thereafter. The stock options are subject to the terms and conditions of Albireo’s 2020 Inducement Equity Incentive Plan.

About Albireo 
Albireo Pharma is a clinical-stage biopharmaceutical company focused on the development of novel bile acid modulators to treat rare pediatric and adult liver diseases. Albireo’s lead product candidate, odevixibat, is being developed to treat rare pediatric cholestatic liver diseases and is in Phase 3 development in progressive familial intrahepatic cholestasis (PFIC) and biliary atresia, with a third Phase 3 trial being planned in Alagille syndrome. Albireo was spun out from AstraZeneca in 2008. Albireo Pharma is located in Boston, Massachusetts, and its key operating subsidiary is located in Gothenburg, Sweden.

Media Contact:
Colleen Alabiso, 857-356-3905, colleen.alabiso@albireopharma.com
Lisa Rivero, 617-947-0899, lisa.rivero@syneoshealth.com

Investor Contact:
Hans Vitzthum, LifeSci Advisors, LLC., 857-272-6177

FAQ

What are the details of the stock options granted by Albireo Pharma?

Albireo Pharma granted inducement stock options for 18,500 shares at $39.77, with a four-year vesting period.

How does the stock option grant affect Albireo Pharma's employees?

The stock options serve as incentives for employees, promoting retention and alignment with company goals.

What is the significance of Albireo Pharma's lead product candidate, odevixibat?

Odevixibat is in Phase 3 trials for rare liver diseases, indicating potential for significant market impact upon successful commercialization.

When were the stock options granted for Albireo Pharma?

The stock options were granted on December 9, 2020.