Astria Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Astria Therapeutics (Nasdaq:ATXS) has granted stock options for 210,000 shares to two new employees under its 2022 Inducement Stock Incentive Plan. The options, priced at $11.32 per share (matching the closing price on November 1, 2024), will vest over four years, with 25% vesting after one year and the remainder vesting monthly over the following 36 months. This grant complies with Nasdaq Listing Rule 5635(c)(4) for inducement awards to new employees.

Positive

• Employee retention strategy implemented through equity incentives
• Structured vesting schedule promotes long-term commitment

Negative

• Potential future dilution of existing shareholders through 210,000 new stock options

BOSTON--(BUSINESS WIRE)-- Astria Therapeutics, Inc. (Nasdaq:ATXS), a biopharmaceutical company focused on developing life-changing therapies for allergic and immunologic diseases, granted stock options to purchase 210,000 shares of Astria’s common stock on November 1, 2024 under Astria’s 2022 Inducement Stock Incentive Plan. The 2022 Inducement Stock Incentive Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee of Astria.

The options were granted as an inducement material to two employees entering into employment with Astria in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $11.32, which is equal to the closing price of Astria’s common stock on November 1, 2024 (the “Grant Date”), and will vest over a four-year period, with 25% of shares vesting on the first anniversary of the employee’s employment start date (which preceded the Grant Date) and the remaining shares vesting monthly on a ratable basis over the following 36 months, subject to the employee’s continued employment with Astria on such vesting dates. The options are subject to the terms and conditions of the 2022 Inducement Stock Incentive Plan and the terms and conditions of an award agreement covering the grant.

About Astria Therapeutics:

Astria Therapeutics is a biopharmaceutical company, and our mission is to bring life-changing therapies to patients and families affected by allergic and immunologic diseases. Our lead program, navenibart (STAR-0215), is a monoclonal antibody inhibitor of plasma kallikrein in clinical development for the treatment of hereditary angioedema. Our second program, STAR-0310, is a monoclonal antibody OX40 antagonist in preclinical development for the treatment of atopic dermatitis. Learn more about our company on our website, www.astriatx.com, or follow us on X and Instagram @AstriaTx and on Facebook and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241104640225/en/

Astria:

Investor Relations and Media:

Elizabeth Higgins

investors@astriatx.com

Source: Astria Therapeutics, Inc.

FAQ

How many stock options did Astria Therapeutics (ATXS) grant on November 1, 2024?

Astria Therapeutics granted stock options to purchase 210,000 shares of common stock on November 1, 2024.

What is the exercise price for ATXS stock options granted on November 1, 2024?

The exercise price for the stock options is $11.32, equal to Astria's closing stock price on November 1, 2024.

What is the vesting schedule for ATXS's November 2024 stock option grants?

The options vest over 4 years, with 25% vesting after the first year and the remaining shares vesting monthly over the following 36 months.