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

Rhea-AI Summary

UroGen Pharma Ltd. (Nasdaq: URGN) announced the granting of inducement restricted stock units (RSUs) to eleven new employees to support the launch of Jelmyto® and the development of its pipeline. Up to 46,100 shares are issuable, vesting over three years. This initiative aligns with Nasdaq Rule 5635(c)(4) as a material inducement for employment.

UroGen focuses on innovative treatments for specialty cancers and urologic diseases, leveraging its RTGel™ technology for improved therapeutic outcomes.

Positive

• Inducement of RSUs to eleven new employees supports company growth and product launch.
• Potential issuance of 46,100 shares over three years indicates commitment to long-term employee engagement.

Negative

• None.

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 eleven 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 46,100 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/20210604005055/en/

FAQ

What is the significance of UroGen Pharma's RSU grants?

UroGen's RSU grants to eleven new employees aim to enhance the team for the commercial launch of Jelmyto® and further pipeline development.

How many shares are issuable from the RSUs granted by UroGen Pharma?

Up to 46,100 shares of UroGen's common stock are issuable upon the vesting of the RSUs.

What is the vesting schedule for the RSUs granted by UroGen?

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

Which product is UroGen Pharma launching?

UroGen Pharma is launching Jelmyto® (mitomycin) for pyelocalyceal solution.

What is UroGen Pharma's focus area?

UroGen Pharma is dedicated to developing treatments for specialty cancers and urologic diseases.