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

Rhea-AI Summary

Taysha Gene Therapies (Nasdaq: TSHA) has announced that its Compensation Committee granted a stock option to one new employee on December 2, 2024. The inducement grant, issued under the company's 2023 Inducement Plan and in accordance with Nasdaq Listing Rule 5635(c)(4), consists of an option to purchase 152,000 shares of common stock at an exercise price of $3.08 per share. The option has a 10-year term and will vest over four years, with 25% vesting after the first year and the remaining 75% vesting monthly over the following 36 months, subject to continued employment.

DALLAS, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Taysha Gene Therapies, Inc. (Nasdaq: TSHA) (Taysha or the Company), a clinical-stage biotechnology company focused on advancing adeno-associated virus (AAV)-based gene therapies for severe monogenic diseases of the central nervous system (CNS), today announced that, on December 2, 2024, the Compensation Committee of Taysha's Board of Directors granted one new employee an option to purchase 152,000 shares of the Company's common stock in connection with their employment. The stock option was granted under the Taysha Gene Therapies, Inc. 2023 Inducement Plan as an inducement material to the individual entering employment with Taysha in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price of $3.08 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 stock options did Taysha Gene Therapies (TSHA) grant on December 2, 2024?

Taysha Gene Therapies granted one new employee an option to purchase 152,000 shares of common stock at an exercise price of $3.08 per share, with a 10-year term and four-year vesting schedule.

What is the vesting schedule for TSHA's December 2024 stock option grant?

The stock option vests over four years, with 25% vesting on the first anniversary and the remaining 75% vesting in equal monthly installments over the following 36 months.

What was the exercise price of TSHA's December 2024 inducement grant?

The stock option exercise price was $3.08, equal to Taysha's common stock closing price on the date of grant.