SCYNEXIS Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SCYNEXIS, Inc. (NASDAQ: SCYX) announced grants of stock options and Restricted Stock Units (RSUs) to three new employees, totaling 28,000 stock options at an exercise price of $4.18 and 11,500 RSUs. This move aims to attract talent in the biotechnology sector focusing on innovative treatments for drug-resistant fungal infections. The options will vest over a four-year period, while the RSUs will vest over three years. These grants are part of SCYNEXIS’ 2015 Inducement Award Plan, aligned with their mission to develop medicines like ibrexafungerp, aimed at combating serious fungal infections.
- Granting of stock options and RSUs indicates SCYNEXIS' commitment to attracting skilled employees.
- The exercise price of $4.18 is equal to the market price, indicating no immediate dilution for existing shareholders.
- The RSUs and stock options are aligned with long-term employee retention strategies.
- None.
JERSEY CITY, N.J., March 04, 2022 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (NASDAQ: SCYX), a biotechnology company pioneering innovative medicines to overcome and prevent difficult-to-treat and drug-resistant fungal infections, today announced grants of stock options and Restricted Stock Units (“RSUs”) to three new employees. The grants consisted of stock options to purchase an aggregate of 28,000 shares of SCYNEXIS common stock at a per share exercise price of
Each option has a ten-year term, with one-fourth of the shares subject to the option vesting on the one-year anniversary of the employee’s first date of employment and the remainder vesting in equal monthly installments for thirty-six months thereafter, provided the employee continues to provide service to SCYNEXIS. The RSUs will vest over 3 years, with one-third vesting each year on the anniversary of the first date of employment, provided the employee continues to provide service to SCYNEXIS. The stock options and RSUs were granted pursuant to SCYNEXIS’ 2015 Inducement Award Plan, as amended, which was adopted by SCYNEXIS’ board of directors under Rule 5635(c)(4) for equity grants to induce new employees to enter into employment with SCYNEXIS.
About SCYNEXIS
SCYNEXIS, Inc. (NASDAQ: SCYX) is a biotechnology company pioneering innovative medicines to help millions of patients worldwide overcome and prevent difficult-to-treat infections that are becoming increasingly drug-resistant. SCYNEXIS scientists are developing the company’s lead asset, ibrexafungerp (formerly known as SCY-078), as a broad-spectrum, systemic antifungal for multiple fungal indications in both the community and hospital settings. SCYNEXIS has initiated the launch of its first commercial product in the U.S., BREXAFEMME® (ibrexafungerp tablets). The U.S. Food and Drug Administration (FDA) approved BREXAFEMME on June 1, 2021. In addition, late-stage clinical investigation of ibrexafungerp for the prevention of recurrent vulvovaginal candidiasis (rVVC) and the treatment of life-threatening invasive fungal infections in hospitalized patients is ongoing. For more information, visit www.scynexis.com.
CONTACT:
Investor Relations
Irina Koffler
LifeSci Advisors
Tel: (646) 970-4681
ikoffler@lifesciadvisors.com
Media Relations
Gloria Gasaatura
LifeSci Communications
Tel: (646) 970-4688
ggasaatura@lifescicomms.com
FAQ
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