NervGen Pharma Grants Stock Options

Rhea-AI Summary

NervGen Pharma Corp. grants incentive stock options to employees, including 505,200 to Officers at $3.48 per share for 10 years, vesting every six months over two years, in line with TSX Venture Exchange policies.

Vancouver, British Columbia--(Newsfile Corp. - February 20, 2024) - NervGen Pharma Corp. (TSXV: NGEN) (OTCQX: NGENF), a clinical stage biotech company dedicated to developing innovative solutions for the treatment of nervous system damage, today announced that it has granted incentive stock options to the Company's employees, including 505,200 to the Company's Officers exercisable at a price of $3.48 per share for a period of 10 years and that vest equally every six months over a two-year period. All options have been granted in accordance with the policies of the TSX Venture Exchange and the conditions of the Company's stock option plan.

About NervGen

NervGen (TSXV: NGEN) (OTCQX: NGENF) is a clinical stage biotech company dedicated to developing innovative treatments that enable the nervous system to repair itself following damage, whether due to injury or disease. NervGen's lead drug candidate, NVG-291, is being evaluated in a Phase 1b/2a clinical trial. The Company's initial target indication is spinal cord injury. For more information, go to www.nervgen.com and follow NervGen on Twitter, LinkedIn, and Facebook for the latest news on the Company.

Contacts

Huitt Tracey, Corporate Communications
htracey@nervgen.com
604.537.2094

Bill Adams, Chief Financial Officer
info@nervgen.com
778.731.1711

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198643

FAQ

How many incentive stock options were granted by NervGen Pharma Corp. to its employees?

NervGen Pharma Corp. granted 505,200 incentive stock options to its employees.

At what price are the incentive stock options exercisable by the Company's Officers?

The incentive stock options are exercisable at a price of $3.48 per share by the Company's Officers.

Over what period do the incentive stock options vest?

The incentive stock options vest equally every six months over a two-year period.

What exchange policies were followed for granting the incentive stock options?

The incentive stock options were granted in accordance with the policies of the TSX Venture Exchange.