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

Rhea-AI Summary

UroGen Pharma Ltd. (Nasdaq: URGN) recently granted inducement restricted stock units (RSUs) to 7 new employees from March 1 to March 6, 2023, aimed at bolstering its workforce for the commercial launch of Jelmyto® and ongoing pipeline development. A total of 11,700 shares of common stock will be issued upon RSU vesting over three years, contingent on continued employment. The RSUs align with UroGen’s 2019 Inducement Plan and Nasdaq listing Rule 5635(c)(4). UroGen focuses on innovative treatments for urothelial and specialty cancers, with its first commercial product being Jelmyto®.

Positive

• Inducement RSUs granted to 7 new employees support commercial launch and pipeline development.
• Total of 11,700 shares will be issued upon RSU vesting over three years.

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• 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 7 new employees in connection with their entering into employment with UroGen. The grants were made between March 1, 2023 and March 6, 2023. 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 11,700 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/20230306005090/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 recent stock grants by UroGen Pharma Ltd. (URGN)?

UroGen Pharma Ltd. granted inducement restricted stock units (RSUs) to 7 new employees between March 1 and March 6, 2023.

How many shares are associated with the RSUs granted by UroGen Pharma?

Up to 11,700 shares of UroGen's common stock are issuable upon the vesting and settlement of the RSUs.

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

The RSUs support the ongoing commercial launch of Jelmyto® and the continued development of the company's pipeline.

What is the vesting schedule for the RSUs granted by UroGen Pharma?

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