Cidara Therapeutics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Cidara Therapeutics (Nasdaq: CDTX) has granted a stock option for 115,000 shares to a new employee under its 2020 Inducement Incentive Plan, effective December 31, 2020.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Cidara Therapeutics (Nasdaq: CDTX) has granted a stock option for 115,000 shares to a new employee under its 2020 Inducement Incentive Plan, effective December 31, 2020. The exercise price is $2.00 per share, equal to the closing price on the grant date. The option vests over four years, with 25% vesting after one year and the remainder in monthly installments. This award complies with Nasdaq Listing Rule 5635(c)(4) as an inducement for the employee's hiring. Cidara focuses on long-acting therapeutics for serious fungal and viral infections, including its lead candidate, rezafungin.
Positive
- Granting of 115,000 stock options aligns employee incentives with company performance.
- The stock option's exercise price matches the market price, ensuring no immediate dilution.
Negative
- None.
Details
News Market Reaction – CDTX
The recorded move for CDTX in the trading session of this news was -4.50%.
Data tracked by StockTitan Argus. Session date unavailable.
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SAN DIEGO, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing long-acting therapeutics designed to transform the standard of care for patients facing serious fungal or viral infections, today announced that the Compensation Committee of its Board of Directors granted a stock option to purchase 115,000 shares of its common stock to a new employee, pursuant to the Cidara Therapeutics, Inc. 2020 Inducement Incentive Plan, with a grant date of December 31, 2020. The stock option has an exercise price of
The foregoing equity award was granted as an inducement material to the employee entering into employment with Cidara, in accordance with Nasdaq Listing Rule 5635(c)(4). The Cidara Therapeutics, Inc. 2020 Inducement Incentive Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Cidara, or following a bona fide period of non-employment, as an inducement material to such individual’s entering into employment with Cidara, pursuant to Nasdaq Listing Rule 5635(c)(4).
About Cidara Therapeutics
Cidara is developing long-acting therapeutics designed to transform the standard of care for patients facing serious fungal or viral infections. The Company’s portfolio is comprised of its lead antifungal candidate, rezafungin, in addition to antiviral conjugates (AVCs) for the prevention and treatment of influenza and other viral diseases from Cidara’s proprietary Cloudbreak® antiviral platform. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.
INVESTOR CONTACT:
Brian Ritchie
LifeSci Advisors
(212) 915-2578
britchie@lifesciadvisors.com
MEDIA CONTACT:
Karen O’Shea, Ph.D.
LifeSci Communications
(929) 469-3860
koshea@lifescicomms.com
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