Aeglea BioTherapeutics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
12/02/2022 - 04:05 PM
AUSTIN, Texas , Dec. 2, 2022 /PRNewswire/ -- Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE), a clinical-stage biotechnology company developing a new generation of human enzyme therapeutics as innovative solutions for rare metabolic diseases, today announced that the compensation committee of its board of directors has granted non-qualified stock options to purchase an aggregate of 1,884,838 shares of Aeglea's common stock to Jeffrey M. Goldberg as a material inducement to his appointment as the chief executive officer of Aeglea in accordance with Rule 5635(c)(4) of the Nasdaq Listing Rules.
The stock options approved under Mr. Goldberg's inducement grant were issued on terms substantially similar to Aeglea's 2016 Equity Incentive Plan and have an exercise price of $1.22 per share, which is equal to the closing price of Aeglea's common stock on November 29, 2022. The option award vests as to 25% of the shares on the one-year anniversary of its grant, with the remainder of the shares vesting ratably over 36 months thereafter subject to Mr. Goldberg's continued employment through the applicable vesting date.
About Aeglea BioTherapeutics
Aeglea BioTherapeutics is a clinical-stage biotechnology company redefining the potential of human enzyme therapeutics to benefit people with rare metabolic diseases with limited treatment options. Aeglea is investigating pegtarviliase in an ongoing Phase 1/2 clinical trial for the treatment of Classical Homocystinuria. Pegtarviliase has been granted Rare Pediatric Disease Designation. Aeglea's other clinical program, pegzilarginase, achieved the primary endpoint of arginine reduction in the PEACE Phase 3 clinical trial and has received both Rare Pediatric Disease and Breakthrough Therapy Designations. The Marketing Authorization Application for pegzilarginase is currently under review with the European Medicines Agency. Aeglea has an active discovery platform focused on engineering small changes in human enzymes to have a big impact on the lives of patients and their families. For more information, please visit http://aeglea.com .
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SOURCE Aeglea BioTherapeutics, Inc.
Aeglea BioTherapeutics Inc
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Pharmaceutical Preparation Manufacturing
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Manufacturing
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Health Technology, Pharmaceuticals: Major, Biotechnology, Manufacturing, Pharmaceutical Preparation Manufacturing
About AGLE
aeglea was founded in december of 2013 to develop engineered human enzymes invented in the laboratory of george georgiou, ph.d. of the university of texas at austin. the convergence of discovery and technology has created a significant opportunity for aeglea to impact both the treatment of inborn errors of metabolism and cancer. three drug candidates that degrade specific amino acids in the circulation are in development. for inborn errors of metabolism efforts are underway to normalize high arginine levels in patients who suffer from a gene mutation in the arginine degrading enzyme arginase1 and for patients who have mutations leading to excess levels of homocysteine. taking advantage of a cancer’s metabolic vulnerability and selectively killing only the tumor through deprivation of arginine, cysteine/cystine, and methionine are techniques in development for multiple oncology indications. coupling amino acid depletion therapy with the development of diagnostics for each oncology f
