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

Rhea-AI Summary

UroGen Pharma Ltd. (Nasdaq: URGN) announced the grant of up to 43,300 inducement restricted stock units (RSUs) to 10 new employees as part of their employment. These RSUs will vest over three years, supporting the launch of Jelmyto® for treating pyelocalyceal solution and the company's ongoing pipeline development. This initiative aims to enhance their team to further innovate in the treatment of urothelial and specialty cancers, demonstrating UroGen's commitment to advancing therapeutic options for patients.

Positive

• Granting of 43,300 RSUs indicates UroGen's commitment to expanding its workforce.
• The hiring supports the ongoing commercial launch of Jelmyto®, enhancing market presence.
• Focused on developing innovative treatments for urothelial and specialty cancers.

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 10 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 43,300 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^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 Jelmyto® (mitomycin) for pyelocaliceal solution, 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/20220909005063/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 did UroGen Pharma announce regarding employee stock units?

UroGen Pharma announced the grant of up to 43,300 inducement restricted stock units (RSUs) to 10 new employees.

How will the RSUs granted by UroGen vest?

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

What is the purpose of the new hires at UroGen?

The new hires will support the ongoing commercial launch of Jelmyto® and the development of the company's pipeline.

What is Jelmyto® used for?

Jelmyto® is used for the treatment of pyelocalyceal solution in urothelial and specialty cancers.

Is UroGen expanding its workforce?

Yes, UroGen is expanding its workforce, indicated by the inducement RSUs granted to new employees.