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Savara Announces New Employment Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Savara Inc. (NASDAQ: SVRA), a clinical stage biopharmaceutical company, announced the grant of inducement awards to five new employees on December 1, 2021. The awards consist of options to purchase a total of 280,000 shares of common stock at an exercise price of $1.08 per share, matching the closing price on the grant date. These options have a 10-year term and vest quarterly. Savara focuses on rare respiratory diseases, with its lead program being molgramostim nebulizer solution in Phase 3 for autoimmune pulmonary alveolar proteinosis (aPAP).
Positive
Granting inducement awards can attract talented employees, enhancing the company's workforce.
The exercise price of $1.08 aligns with the current market valuation, indicating no immediate dilution risk.
Negative
The issuance of options may create potential shareholder dilution if exercised.
AUSTIN, Texas--(BUSINESS WIRE)--
Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced the grant of inducement awards to five new employees.
On December 1, 2021, the Compensation Committee of Savara's Board of Directors granted inducement awards to five new employees who recently joined the Company. The inducement awards consist of options to purchase an aggregate of 280,000 shares of the Company's common stock. These equity awards were granted under the Savara Inc. 2021 Inducement Equity Incentive Plan pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules as an inducement material to the employee’s acceptance of employment with the Company.
The options have an exercise price of $1.08 per share, the closing trading price of the Company's common stock on the NASDAQ Global Market on the grant date. Each option has a 10-year term and vests as to 1/16th of the number of shares subject to the option on each quarterly anniversary of the employee’s first day of employment, subject to the employee’s continued employment on each such vesting date.
About Savara
Savara is a clinical stage biopharmaceutical company focused on rare respiratory diseases. Our lead program, molgramostim nebulizer solution, is an inhaled granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar proteinosis (aPAP). Molgramostim is delivered via an investigational eFlow® Nebulizer System (PARI Pharma GmbH). Our management team has significant experience in rare respiratory diseases and pulmonary medicine, identifying unmet needs, and effectively advancing product candidates to approval and commercialization. More information can be found at www.savarapharma.com. (Twitter: @SavaraPharma, LinkedIn: www.linkedin.com/company/savara-pharmaceuticals/).
