UroGen Pharma Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

UroGen Pharma Ltd. (Nasdaq: URGN) announced the grant of inducement restricted stock units (RSUs) to 19 new employees. This initiative supports the ongoing launch of Jelmyto® for pyelocalyceal solution, UroGen's first approved product, and the development of its pipeline. A total of 94,800 shares of common stock are issuable upon the vesting of these RSUs, which will vest equally over three years. The RSUs comply with Nasdaq Rule 5635(c)(4) and are part of the company's 2019 Inducement Plan.

Positive

• Granting of RSUs to 19 new employees indicates company growth and expansion.
• Supports the commercial launch of UroGen's first approved product, Jelmyto®.

Negative

• None.

PRINCETON, N.J.--(BUSINESS WIRE)-- UroGen Pharma Ltd. (Nasdaq: URGN) a biopharmaceutical company dedicated to building and commercializing novel solutions that treat specialty cancers and urologic diseases, today announced the grants of inducement restricted stock units (“RSUs”) to 19 new employees in connection with their employment with UroGen. These new team members will support the ongoing commercial launch of Jelmyto® (mitomycin) for pyelocalyceal solution, UroGen’s first approved product, and the continued development of the Company’s pipeline.

Up to 94,800 shares of UroGen’s common stock are issuable upon the vesting and settlement of the RSUs. The RSUs will vest equally over three years, with one third of the underlying shares vesting each year on the anniversary of the vesting date, subject in each case to the employee’s continued service relationship with UroGen.

The RSUs are subject to the terms and conditions of UroGen’s 2019 Inducement Plan and RSU grant notice and agreement thereunder. The RSU grants were granted as an inducement material to each employee entering into employment with UroGen in accordance with Nasdaq listing Rule 5635(c)(4).

About UroGen Pharma Ltd.

UroGen is a biopharmaceutical company dedicated to building novel solutions that treat specialty cancers and urologic diseases because patients deserve better options. UroGen has developed RTGel^TM reverse-thermal hydrogel, a proprietary sustained release, hydrogel-based platform technology that has the potential to improve therapeutic profiles of existing drugs. UroGen’s sustained release technology is designed to enable longer exposure of the urinary tract tissue to medications, making local therapy a potentially more effective treatment option. UroGen’s first commercial product, and investigational treatment UGN-102 (mitomycin) for intravesical solution for patients with low-grade non-muscle invasive bladder cancer, are designed to ablate tumors by non-surgical means. UroGen is headquartered in Princeton, New Jersey with operations in Israel. Visit www.urogen.com to learn more or follow us on Twitter, @UroGenPharma.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210903005037/en/

INVESTOR CONTACTS:

Lee Roth

lroth@burnsmc.com

212-213-0006

Source: UroGen Pharma Ltd.

FAQ

What is the purpose of the RSUs granted by UroGen Pharma?

The RSUs are intended to incentivize 19 new employees supporting the commercial launch of Jelmyto® and the company's pipeline development.

How many shares are associated with the RSUs granted by UroGen?

A total of 94,800 shares of UroGen's common stock are issuable upon vesting of the RSUs.

What is the vesting schedule for the RSUs granted to UroGen employees?

The RSUs will vest equally over three years, with one third vesting each year on the anniversary of the vesting date.

Which Nasdaq rule governs the RSUs granted by UroGen?

The RSUs comply with Nasdaq listing Rule 5635(c)(4), which pertains to inducement grants.

What product is UroGen Pharma launching with the new hires?

UroGen is launching Jelmyto®, a treatment for pyelocalyceal solution.