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

Rhea-AI Summary

UroGen Pharma Ltd. (Nasdaq: URGN) announced the issuance of inducement restricted stock units (RSUs) to 13 new employees to support the commercial launch of Jelmyto® and ongoing pipeline development. A total of 53,000 shares will be available upon vesting over three years, contingent on continued employment. This grant aligns with UroGen’s 2019 Inducement Plan and complies with Nasdaq Rule 5635(c)(4). UroGen focuses on innovative solutions for specialty cancers and urologic diseases, utilizing RTGel™ technology aimed at enhancing local treatment effectiveness.

Positive

• Issuance of 53,000 restricted stock units promotes employee retention and supports the commercial launch of Jelmyto®.
• Hiring of 13 new employees indicates growth and commitment to pipeline development.

Negative

• None.

 

PRINCETON, N.J.--(BUSINESS WIRE)-- 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 13 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. 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 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, 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/20211203005040/en/

INVESTOR:

Lee Roth

lroth@burnsmc.com

212-213-0006

Source: UroGen Pharma Ltd.

FAQ

What is the recent announcement by UroGen Pharma Ltd. involving RSUs?

UroGen Pharma announced the granting of inducement restricted stock units to 13 new employees to support the launch of Jelmyto® and pipeline development.

How many shares are tied to the RSUs granted by UroGen?

Up to 53,000 shares of UroGen's common stock are issuable upon the vesting of the RSUs.

What is the vesting schedule for the RSUs at UroGen?

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

What is UroGen Pharma focused on?

UroGen Pharma focuses on building novel solutions for treating urothelial and specialty cancers.

What is Jelmyto® and its significance?

Jelmyto® is UroGen's first approved product, designed for treating pyelocalyceal conditions.