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

Rhea-AI Summary

UroGen Pharma Ltd. (Nasdaq: URGN) has granted inducement restricted stock units (RSUs) to nine new employees to support the launch of Jelmyto^® and ongoing pipeline development. Up to 38,500 shares of common stock will be issued upon RSU vesting, occurring over three years. The grant complies with Nasdaq Rule 5635(c)(4) and is part of UroGen's 2019 Inducement Plan. UroGen focuses on innovative solutions for specialty cancers and urologic diseases, utilizing technologies like RTGel™ to enhance drug efficacy. For more details, visit www.urogen.com.

Positive

• Grant of RSUs indicates company growth and expansion with nine new employees.
• Support for the launch of Jelmyto^®, enhancing product pipeline and market presence.

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 nine 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 38,500 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™ 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.

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FAQ

What are the new RSUs granted by UroGen Pharma for?

The RSUs are granted to nine new employees to support the launch of Jelmyto^® and ongoing pipeline development.

How many shares can be issued upon the vesting of RSUs at UroGen?

Up to 38,500 shares of UroGen's common stock can be issued upon the vesting and settlement of the RSUs.

What is the vesting period for the RSUs at UroGen Pharma?

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

What is UroGen Pharma's first approved product?

UroGen Pharma's first approved product is Jelmyto^® (mitomycin) for pyelocalyceal solution.