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

Rhea-AI Summary

UroGen Pharma Ltd. announces the grants of inducement restricted stock units to 12 new employees to support the commercialization of Jelmyto® and the development of their pipeline.

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 commercialization of Jelmyto^® (mitomycin) for pyelocalyceal solution, UroGen’s first approved product, and the continued development of the Company’s pipeline.

Up to 35,000 ordinary shares of UroGen 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 RSUs 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 Jelmyto^® (mitomycin) for pyelocalyceal 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.

Jelmyto^®, RTGel^® and UroGen^® are registered trademarks of UroGen Pharma Ltd.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240308154847/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

How many new employees were granted inducement restricted stock units by UroGen Pharma Ltd.?

UroGen Pharma Ltd. granted inducement restricted stock units to 12 new employees.

What is the name of UroGen Pharma Ltd.'s first approved product?

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

How many ordinary shares of UroGen are issuable upon the vesting and settlement of the RSUs?

Up to 35,000 ordinary shares of UroGen are issuable upon the vesting and settlement of the RSUs.

How long will it take for the RSUs to vest equally?

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.

What is the purpose of granting the RSUs to new employees?

The RSUs were granted as an inducement material to each employee entering into employment with UroGen to support the ongoing commercialization of Jelmyto® and the development of the Company’s pipeline.