Taysha Gene Therapies Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Taysha Gene Therapies, a clinical-stage gene therapy company, granted options to purchase 528,000 shares of common stock to four new employees under the 2023 Inducement Plan. The options have an exercise price of $2.42 per share, a 10-year term, and will vest over four years. This grant is in accordance with Nasdaq Listing Rule 5635(c)(4).

DALLAS, May 03, 2024 (GLOBE NEWSWIRE) -- Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a clinical-stage gene therapy company focused on developing and commercializing AAV-based gene therapies for the treatment of severe monogenic diseases of the central nervous system (CNS), today announced that, on May 1, 2024, the Compensation Committee of Taysha's Board of Directors granted four new employees, in the aggregate, options to purchase 528,000 shares of the Company's common stock in connection with their employment. The stock options were granted under the Taysha Gene Therapies, Inc. 2023 Inducement Plan as an inducement material to the individuals entering employment with Taysha in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $2.42 per share, which is equal to the closing price of Taysha's common stock on the date of grant. The stock option has a 10-year term and will vest over four years, with 25% of the option vesting on the first anniversary of the vesting commencement date and the remaining 75% of the option vesting in equal monthly installments over the 36 months thereafter. Vesting of the stock option is subject to such employee's continued service to Taysha on each vesting date.

About Taysha Gene Therapies
Taysha Gene Therapies (Nasdaq: TSHA) is a clinical-stage biotechnology company focused on advancing adeno-associated virus (AAV)-based gene therapies for severe monogenic diseases of the central nervous system. Its lead clinical program TSHA-102 is in development for Rett syndrome, a rare neurodevelopmental disorder with no approved disease-modifying therapies that address the genetic root cause of the disease. With a singular focus on developing transformative medicines, Taysha aims to address severe unmet medical needs and dramatically improve the lives of patients and their caregivers. The Company’s management team has proven experience in gene therapy development and commercialization. Taysha leverages this experience, its manufacturing process and a clinically and commercially proven AAV9 capsid in an effort to rapidly translate treatments from bench to bedside. For more information, please visit http://www.tayshagtx.com.

Company Contact:
Hayleigh Collins
Director, Head of Corporate Communications and Investor Relations
Taysha Gene Therapies, Inc.
hcollins@tayshagtx.com

Media Contact:
Carolyn Hawley
Inizio Evoke
Carolyn.hawley@inizioevoke.com

FAQ

What did Taysha Gene Therapies announce?

Taysha Gene Therapies announced an inducement grant under Nasdaq Listing Rule 5635(c)(4).

How many shares were granted to new employees?

Four new employees were granted options to purchase 528,000 shares of the company's common stock.

What is the exercise price of the stock options?

The stock options have an exercise price of $2.42 per share.

How long is the term of the stock options?

The stock options have a 10-year term.

How will the stock options vest?

The stock options will vest over four years, with 25% on the first anniversary and the remaining 75% in equal monthly installments over 36 months.