Karyopharm Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) announced the grant of stock options to purchase 41,700 shares of its common stock to eight new employees as part of their inducement for joining the company.
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
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) announced the grant of stock options to purchase 41,700 shares of its common stock to eight new employees as part of their inducement for joining the company. The options, priced at $18.94 per share, were approved by the Compensation Committee on June 30, 2020, in compliance with Nasdaq Listing Rule 5635(c)(4). These options vest over four years with specific conditions regarding termination tied to a change in control event. Karyopharm is focused on developing innovative treatments for cancer and other major diseases.
Positive
- Grant of stock options to attract new talent enhances the workforce.
- Stock options priced at favorable market rate of $18.94 per share.
Negative
- None.
Details
News Market Reaction – KPTI
The recorded move for KPTI in the trading session of this news was +2.39%.
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NEWTON, Mass., July 01, 2020 (GLOBE NEWSWIRE) -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), an innovation-driven pharmaceutical company, today announced that the Compensation Committee of Karyopharm’s Board of Directors granted stock options to purchase an aggregate of 41,700 shares of Karyopharm’s common stock to eight newly-hired employees, with a grant date of June 30, 2020. The stock options were granted as inducements material to the new employees entering into employment with Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4).
Each of the stock options has an exercise price of
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is an innovation-driven pharmaceutical company dedicated to the discovery, development, and commercialization of novel first-in-class drugs directed against nuclear export and related targets for the treatment of cancer and other major diseases. Karyopharm's Selective Inhibitor of Nuclear Export (SINE) compounds function by binding with and inhibiting the nuclear export protein XPO1 (or CRM1). Karyopharm’s lead compound, XPOVIO® (selinexor), received accelerated approval from the U.S. Food and Drug Administration (FDA) in July 2019 in combination with dexamethasone as a treatment for patients with heavily pretreated multiple myeloma. In June 2020, XPOVIO was approved by the FDA as a treatment for patients with relapsed or refractory diffuse large B-cell lymphoma. A Marketing Authorization Application for selinexor for patients with heavily pretreated multiple myeloma is also currently under review by the European Medicines Agency. In addition to single-agent and combination activity against a variety of human cancers, SINE compounds have also shown biological activity in models of neurodegeneration, inflammation, autoimmune disease, certain viruses and wound-healing. Karyopharm has several investigational programs in clinical or preclinical development. For more information, please visit www.karyopharm.com.
Contact:
Karyopharm Therapeutics Inc.
Ian Karp
Vice President, Investor and Public Relations
857-297-2241 | ikarp@karyopharm.com
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