ArTara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

ArTara Therapeutics (TARA) announced the grant of inducement stock options totaling 4,100 shares to two new employees at an exercise price of $24.02 per share, equivalent to the May 1, 2020 closing price. These options will vest over four years, with 25% vesting after one year and the remainder monthly thereafter. The Compensation Committee approved these awards in line with NASDAQ Listing Rule 5635(c)(4). ArTara focuses on developing treatments for rare diseases, including TARA-002 for lymphatic malformations and IV choline chloride for intestinal failure-associated liver disease.

Positive

• Grant of stock options may enhance employee retention and incentivize new talent.
• Focus on rare diseases addresses significant unmet needs, potentially expanding market opportunity.

Negative

• None.

NEW YORK, May 05, 2020 (GLOBE NEWSWIRE) -- ArTara Therapeutics, Inc. (Nasdaq: TARA), a development-stage clinical biopharmaceutical company developing treatments for rare and specialty diseases with significant unmet needs, today announced the grants of inducement non-qualified stock options to purchase an aggregate of 4,100 shares of common stock to two new employees.

Each stock option has an exercise price per share equal to $24.02 per share, ArTara’s closing trading price on May 1, 2020, the grant date, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the individual’s start date and 1/48th of the underlying shares vesting monthly thereafter over 36 months subject to the new employee's continued service relationship with ArTara through the applicable vesting dates.

The Compensation Committee of ArTara’s Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with NASDAQ Listing Rule 5635(c)(4).

About ArTara Therapeutics

ArTara is focused on identifying and optimizing product candidates for patients suffering from rare and specialty diseases where there is a significant unmet need. ArTara’s current development programs focus on the treatment of rare diseases in structural and connective tissues, as well as rare hepatology/gastrointestinal and metabolic disorders. The Company’s lead program, TARA-002, is being developed for the treatment of lymphatic malformations. ArTara’s second program, IV choline chloride, is a phospholipid substrate replacement therapy in development for the treatment of intestinal failure-associated liver disease.

Company Contact:

Blaine Davis
ArTara Therapeutics
Blaine.Davis@artaratx.com
646-844-0337

Media Contact:

Karen O’Shea, Ph.D.
LifeSci Communications
koshea@lifescicomms.com  
929-469-3860

FAQ

What stock options were granted by ArTara Therapeutics?

ArTara Therapeutics granted inducement stock options to purchase 4,100 shares at an exercise price of $24.02 per share.

When was the stock option grant date for ArTara?

The stock option grant date for ArTara was May 1, 2020.

What is the vesting schedule for the stock options at ArTara?

The stock options will vest over four years, with 25% vesting on the one-year anniversary and the remainder vesting monthly over 36 months.

What is ArTara Therapeutics focused on developing?

ArTara Therapeutics is focused on developing treatments for rare and specialty diseases.

What are ArTara's lead programs?

ArTara's lead program is TARA-002 for lymphatic malformations, and the second program is IV choline chloride for intestinal failure-associated liver disease.