Myovant Sciences Announces New Employment Inducement Grants Under NYSE Rule 303A.08

Rhea-AI Summary

Myovant Sciences (NYSE: MYOV) announced the approval of equity awards for 7 new employees, granting them a total of 37,700 restricted stock units (RSUs) as part of its 2020 Inducement Plan. The RSUs will vest over a period of time, with one-fourth vesting after one year and the remainder in twelve quarterly installments. Myovant aims to innovate care for men and women through science and advocacy, having previously achieved regulatory approvals for treatments in oncology and women's health. The company is also reviewing a supplemental New Drug Application with the FDA.

Positive

• Approval of equity awards for 7 new employees demonstrates company growth.
• Grant of 37,700 restricted stock units (RSUs) indicates commitment to employee retention and alignment with shareholder interests.
• Previous regulatory approvals for three drugs showcase strong product pipeline.

Negative

• None.

BASEL, Switzerland, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Myovant Sciences (NYSE: MYOV), a biopharmaceutical company that aspires to redefine care for women and for men through purpose-driven science, empowering medicines, and transformative advocacy, today announced that it approved equity awards for 7 new employees with a grant date of September 15, 2022 pursuant to Myovant’s 2020 Inducement Plan. The equity awards were granted to the employees joining Myovant in accordance with NYSE’s Listed Company Manual Rule 303A.08.

The new employees received, in the aggregate, restricted stock units (RSUs) to purchase 37,700 common shares of Myovant. One-fourth of the shares underlying each employee’s RSU will vest on the one-year anniversary of the grant date, with the balance of the common shares vesting in twelve equal quarterly installments thereafter, in each case, subject to each such employee’s continued employment with Myovant on such vesting dates. The RSUs are subject to the terms and conditions of the 2020 Inducement Plan and the applicable RSU agreements.

ABOUT MYOVANT SCIENCES
Myovant Sciences aspires to redefine care for women and for men through purpose-driven science, empowering medicines, and transformative advocacy. Founded in 2016, Myovant has executed five successful Phase 3 clinical trials across oncology and women’s health leading to three regulatory approvals by the U.S. Food and Drug Administration (FDA) for men with advanced prostate cancer, women with heavy menstrual bleeding associated with uterine fibroids, and premenopausal women with moderate to severe pain associated with endometriosis, respectively. Myovant also has received regulatory approvals by the European Commission (EC) and the United Kingdom Medicines and Healthcare Products Regulatory Agency (MHRA) for women with symptomatic uterine fibroids and for men with advanced hormone-sensitive prostate cancer. Myovant has a supplemental New Drug Application under review with the FDA for updates to the United States Prescribing Information (USPI) based on safety and efficacy data from the Phase 3 LIBERTY randomized withdrawal study (RWS) of MYFEMBREE in premenopausal women with heavy menstrual bleeding due to uterine fibroids for up to two years. Myovant also is conducting a Phase 3 study to evaluate the prevention of pregnancy in women with uterine fibroids or endometriosis. Myovant also is developing MVT-602, an investigational oligopeptide kisspeptin-1 receptor agonist, which has completed a Phase 2a study for female infertility as part of assisted reproduction. Sumitovant Biopharma, Ltd., a wholly owned subsidiary of Sumitomo Pharma Co., Ltd., is Myovant’s majority shareholder. For more information, please visit www.myovant.com. Follow @Myovant on Twitter and LinkedIn.

Myovant Sciences Contacts
Investor Contact:
Uneek Mehra
Chief Financial and Business Officer
Myovant Sciences, Inc.
investors@myovant.com 

Media Contact:
Noelle Cloud Dugan
Vice President, Corporate Communications
Myovant Sciences, Inc.
media@myovant.com 

FAQ

What recent equity awards have been approved by Myovant Sciences?

Myovant Sciences approved equity awards for 7 new employees, granting a total of 37,700 restricted stock units (RSUs) on September 15, 2022.

How are the RSUs structured for Myovant Sciences employees?

The RSUs will vest one-fourth on the one-year anniversary of the grant date, with the remaining shares vesting in twelve equal quarterly installments.

What is Myovant Sciences' focus in the biopharmaceutical industry?

Myovant Sciences focuses on redefining care for men and women through innovative science and developing treatments for conditions like advanced prostate cancer and uterine fibroids.

Is Myovant Sciences currently under FDA review?

Yes, Myovant has a supplemental New Drug Application under review by the FDA based on safety and efficacy data from its Phase 3 LIBERTY study.