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 12 new employees to support the commercial launch of Jelmyto® and ongoing pipeline development. The RSUs, totaling up to 39,100 shares, will vest over three years, contingent upon continued employment. This grant follows Nasdaq listing Rule 5635(c)(4) and emphasizes UroGen's commitment to expanding its workforce for innovative cancer treatments.

Positive

• Granting of RSUs to attract talent, supporting ongoing commercial activities.
• Vesting of up to 39,100 shares over three years enhances employee retention.

Negative

• None.

PRINCETON, N.J.--(BUSINESS WIRE)-- UroGen Pharma Ltd. (Nasdaq: URGN) a biotech company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers, today announced the grants of inducement restricted stock units (“RSUs”) to 12 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 39,100 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 biotech company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers 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 the investigational treatment UGN-102 (mitomycin) for intravesical solution in development for patients with low-grade non-muscle invasive bladder cancer, are designed to ablate tumors by non-surgical means. UroGen is headquartered in Princeton, NJ 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/20220304005515/en/

INVESTOR CONTACT:

Vincent Perrone

vincent.perrone@urogen.com

(609) 460-3588

MEDIA CONTACT:

Cindy Romano

cindy.romano@urogen.com

(609) 460-3583

Source: UroGen Pharma Ltd.

FAQ

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

The RSUs are designed to attract and retain new talent to support the commercial launch of Jelmyto® and the development of UroGen's product pipeline.

How many shares are associated with the RSUs granted to new employees of UroGen?

Up to 39,100 shares of UroGen's common stock are tied to the RSUs granted.

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

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

Why were RSUs granted to UroGen employees?

The RSUs were granted as an inducement for new hires to enhance UroGen's capacity in developing cancer treatments.

What product is UroGen currently launching?

UroGen is launching Jelmyto® (mitomycin) for pyelocalyceal solution, its first approved product.