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Astria Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Astria Therapeutics, Inc. (NASDAQ: ATXS) announced on April 1, 2022, the grant of equity awards under its 2022 Inducement Stock Incentive Plan. The awards, totaling options for 32,500 shares of common stock, were given to new employees as an incentive. Each option has an exercise price of $6.48, matching the closing stock price on the grant date. The options will vest over four years, contingent upon the employees' continued employment. Astria focuses on developing therapies for rare allergic and immunological diseases, with its lead program being STAR-0215 for hereditary angioedema.
Positive
Grant of 32,500 share options incentivizes new employees, enhancing talent acquisition.
Options vested over four years align employee interests with company growth.
Negative
None.
BOSTON--(BUSINESS WIRE)--
Astria Therapeutics, Inc. (Nasdaq:ATXS), a biopharmaceutical company developing STAR-0215 for the treatment of hereditary angioedema (HAE) and focused on life-changing therapies for rare and niche allergic and immunological diseases, granted equity awards on April 1, 2022 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 inducement awards consist of options to purchase an aggregate of 32,500 shares of Astria’s common stock and were granted as an inducement material to the new employees entering into employment with Astria in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $6.48, which is equal to the closing price of Astria’s common stock on April 1, 2022 (the “Grant Date”). Each option will vest over a four-year period, with 25% of shares vesting on the first anniversary of the employment start date of each employee (which, in each case, 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 rare and niche allergic and immunological diseases. Our lead program, STAR-0215, is a monoclonal antibody inhibitor of plasma kallikrein in preclinical development for the treatment of hereditary angioedema. Learn more about our company on our website, www.astriatx.com, or follow us on Twitter and Instagram @AstriaTx and on Facebook and LinkedIn.
