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

Rhea-AI Summary

Taysha Gene Therapies, Inc. granted two new employees options to purchase 180,000 shares of the Company's common stock. The stock options were granted under the 2023 Inducement Plan and have an exercise price of $1.56 per share. The options will vest over four years, subject to continued service to Taysha.

DALLAS, Feb. 02, 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 monogenic diseases of the central nervous system (CNS), today announced that, on February 1, 2024, the Compensation Committee of Taysha's Board of Directors granted two new employees, in the aggregate, options to purchase 180,000 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 $1.56 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 on a mission to eradicate monogenic CNS disease. With a singular focus on developing curative medicines, we aim to rapidly translate our treatments from bench to bedside. We have combined our team’s proven experience in gene therapy drug development and commercialization with the world-class UT Southwestern Gene Therapy Program. Together, we leverage our fully integrated platform with a goal of dramatically improving patients’ lives. More information is available at 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
Canale Communications
carolyn.hawley@canalecomm.com

FAQ

What is the significance of the stock options granted to new employees at Taysha Gene Therapies, Inc.?

The stock options were granted as an inducement material to the individuals entering employment with Taysha in accordance with Nasdaq Listing Rule 5635(c)(4).

How many shares of the Company's common stock were granted to the new employees?

The new employees were granted options to purchase 180,000 shares of Taysha Gene Therapies, Inc.'s common stock.

What is the exercise price of the stock options?

The exercise price of the stock options is $1.56 per share, which is equal to the closing price of Taysha's common stock on the date of grant.

How long is the term of the stock options?

The stock options have a 10-year term.

How will the stock options vest?

The options will vest over four years, with 25% of the option vesting on the first anniversary of the vesting commencement date and the remaining 75% vesting in equal monthly installments over the 36 months thereafter.