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) and options to 16 new employees as part of their ongoing commercial launch of Jelmyto® and pipeline development. A total of 53,000 shares will be available through RSUs, while 12,000 shares are associated with options, both vesting over three years. These grants comply with Nasdaq rules, aimed at incentivizing new talent to enhance UroGen's capabilities in treating urothelial and specialty cancers.

Positive

• Inducement RSUs and options granted to 16 new employees support strategic growth.
• Total of 53,000 RSUs and 12,000 options aim to bolster the commercial launch of Jelmyto®.

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”) and options (“Options”) to 16 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 53,000 shares of UroGen’s common stock are issuable upon the vesting and settlement of the RSUs and up to 12,000 shares or UroGen’s common stock are issuable upon the vesting and exercise of the Options. The RSUs and Options 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 and Options are subject to the terms and conditions of UroGen’s 2019 Inducement Plan and RSU and Option grant notice and agreements thereunder. The RSU and Option 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/20220603005009/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 are the details of the RSU and option grants by UroGen Pharma (URGN)?

UroGen Pharma granted RSUs and options to 16 new employees, totaling 53,000 shares from RSUs and 12,000 shares from options, vesting equally over three years.

How does the RSU and option grant affect UroGen's business strategy?

The grants are part of UroGen's strategy to enhance its team for the commercial launch of Jelmyto® and support ongoing pipeline development.

What is the purpose of the inducement grants by UroGen Pharma?

The inducement grants aim to attract and retain new talent crucial for UroGen's growth in developing innovative cancer treatments.