Jaguar Health Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Jaguar Health, Inc. (NASDAQ:JAGX) announced employee inducement grants on March 26, 2021, allocating nonstatutory stock options totaling 2,000 to 35,000 shares to five new employees. The exercise price is set at $1.84 per share, reflecting the March 26 closing price. Vesting occurs over three years, with the first 25% vesting nine months post-hire. Grants were made to attract talent as per NASDAQ rules. Jaguar develops plant-based medicines focused on gastrointestinal conditions, notably offering Mytesi, an FDA-approved product for HIV/AIDS patients.
- Inducement grants may attract skilled professionals, potentially enhancing company performance.
- Stock options priced at $1.84 could incentivize employees to contribute to share price growth.
- New employee stock options may pose dilution risk to existing shareholders if exercised.
SAN FRANCISCO, CA / ACCESSWIRE / April 2, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") announced today that effective March 26, 2021, the Company granted nonstatutory stock options for the purchase of up to 2,000 shares of the Company's common stock to new employee 1, nonstatutory stock options for the purchase of up to 3,000 shares of the Company's common stock to new employee 2, nonstatutory stock options for the purchase of up to 4,000 shares of the Company's common stock to new employee 3, nonstatutory stock options for the purchase of up to 5,000 shares of the Company's common stock to new employee 4, and nonstatutory stock options for the purchase of up to 35,000 shares of the Company's common stock to new employee 5, as inducement awards under the Company's Inducement Award Plan. These nonstatutory stock options granted to the five new employees referenced above have an exercise price of
All nonstatutory stock options described above were granted as an inducement material to each respective new employee's acceptance of employment with the Company and were approved by the Compensation Committee of the Board. Vesting of the nonstatutory stock options is subject to each respective employee's continued service with Jaguar through the applicable vesting dates.
About Jaguar Health, Inc. and Napo Pharmaceuticals, Inc.
Jaguar Health, Inc. is a commercial stage pharmaceuticals company focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for people and animals with GI distress, specifically chronic, debilitating diarrhea. Our wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human gastrointestinal pharmaceuticals from plants harvested responsibly from rainforest areas. Our Mytesi® (crofelemer) product is approved by the U.S. FDA for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy and the only oral plant-based prescription medicine approved under FDA Botanical Guidance.
For more information about Jaguar, please visit https://jaguar.health. For more information about Napo, visit www.napopharma.com.
About Mytesi®
Mytesi® (crofelemer delayed release tablets) is an antidiarrheal indicated for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy (ART). Mytesi® is not indicated for the treatment of infectious diarrhea. Rule out infectious etiologies of diarrhea before starting Mytesi®. If infectious etiologies are not considered, there is a risk that patients with infectious etiologies will not receive the appropriate therapy and their disease may worsen. In clinical studies, the most common adverse reactions occurring at a rate greater than placebo were upper respiratory tract infection (
More information and complete Prescribing Information are available at Mytesi.com. Crofelemer, the active ingredient in Mytesi®, is a botanical (plant-based) drug extracted and purified from the red bark sap of the medicinal Croton lechleri tree in the Amazon Rainforest. Napo has established a sustainable harvesting program for crofelemer to ensure a high degree of quality and ecological integrity.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "aim," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this release are only predictions. Jaguar has based these forward-looking statements largely on its current expectations and projections about future events. These forward-looking statements speak only as of the date of this release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond Jaguar's control. Except as required by applicable law, Jaguar does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
Contact:
Peter Hodge
Jaguar Health, Inc.
phodge@jaguar.health
Jaguar-JAGX
SOURCE: Jaguar Health, Inc.
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FAQ
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