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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)
Tags
Rhea-AI Summary
Astria Therapeutics, Inc. (NASDAQ:ATXS) announced the grant of stock options for 39,300 shares of common stock on April 3, 2023. This grant, made under the 2022 Inducement Stock Incentive Plan, targets new employees as per Nasdaq Listing Rule 5635(c)(4). The options will have an exercise price of $12.93, equivalent to the closing stock price on the grant date. Vesting occurs over four years, with 25% vesting after the first anniversary and the remainder vesting monthly for 36 months, contingent upon continued employment. Astria focuses on rare and niche immunological diseases with its lead program, STAR-0215, targeting hereditary angioedema.
Positive
Grant of stock options may attract and retain talent.
STAR-0215 is in clinical development, indicating potential future revenue.
Negative
None.
BOSTON--(BUSINESS WIRE)--
Astria Therapeutics, Inc. (Nasdaq:ATXS), a biopharmaceutical company developing STAR-0215 for the treatment of hereditary angioedema and focused on life-changing therapies for rare and niche allergic and immunological diseases, granted stock options to purchase 39,300 shares of Astria’s common stock on April 3, 2023 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 an employee or employees entering into employment with Astria in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $12.93, which is equal to the closing price of Astria’s common stock on April 3, 2023 (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 rare and niche allergic and immunological diseases. Our lead program, STAR-0215, is a monoclonal antibody inhibitor of plasma kallikrein in clinical 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.
What is the significance of the stock option grant by Astria Therapeutics (ATXS) on April 3, 2023?
The stock option grant is significant as it aims to attract new employees, aligning with Nasdaq regulations and indicating potential growth for Astria Therapeutics.
What is the exercise price for the stock options granted by Astria Therapeutics (ATXS)?
The exercise price for the stock options is $12.93, equal to the closing stock price on the grant date of April 3, 2023.
How long is the vesting period for the stock options granted by Astria Therapeutics (ATXS)?
The vesting period for the stock options is four years, with 25% vesting after the first year and the remaining shares vesting monthly over the following 36 months.
What is Astria Therapeutics' lead program targeting?
Astria Therapeutics' lead program, STAR-0215, is targeting hereditary angioedema, a rare immunological disease.
