Kezar Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
07/07/2023 - 04:01 PM
SOUTH SAN FRANCISCO, Calif. --(BUSINESS WIRE)--
Kezar Life Sciences, Inc ., (Nasdaq: KZR ), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today announced that the Compensation Committee of the company’s Board of Directors granted one employee a nonqualified stock option to purchase 6,000 shares of its common stock with an exercise price of $2.44 per share, which is equal to the closing price of Kezar’s common stock on July 5, 2023, the grant date of the award. The stock option was granted as an inducement award material to the individual entering into employment with Kezar, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option will vest over a four-year period, with 25% of the option vesting on the first anniversary of the employee’s start date, and 1/48th of the total shares vesting monthly thereafter, subject to continued employment on each vesting date. The option is subject to the terms and conditions of Kezar’s 2022 Inducement Plan and the stock option agreement covering the grant.
About Kezar Life Sciences
Kezar Life Sciences is a clinical-stage biopharmaceutical company discovering and developing novel treatments for immune-mediated and oncologic disorders. The company is pioneering first-in-class, small-molecule therapies that harness master regulators of cellular function to inhibit multiple drivers of disease via single, powerful targets. Zetomipzomib, its lead development asset, is a selective immunoproteasome inhibitor that has completed a Phase 2 clinical trial in lupus nephritis. This product candidate also has the potential to address multiple chronic immune-mediated diseases. KZR-261 is the first anti-cancer clinical candidate from the company’s platform targeting the Sec61 translocon and the protein secretion pathway. An open-label dose-escalation Phase 1 clinical trial of KZR-261 to assess safety, tolerability and preliminary tumor activity in solid tumors is underway. For more information, visit www.kezarlifesciences.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20230707807146/en/
Investor:
Gitanjali Jain
Vice President, Investor Relations and External Affairs
gjain@kezarbio.com
Media:
Julia Deutsch
Solebury Strategic Communications
jdeutsch@soleburystrat.com
Source: Kezar Life Sciences, Inc.
Kezar Life Sciences Inc
NASDAQ:KZR
KZR Rankings
#5461 Ranked by Stock Gains
KZR Stock Data
Industry
Research and Development in Biotechnology
Sector
Professional, Scientific, and Technical Services
Tags
Health Technology, Biotechnology
Country
US
City
South San Francisco
About KZR
kezar life sciences, inc., a clinical-stage biotechnology company, engages in the discovery and development of novel small molecule therapeutics to treat unmet needs in autoimmunity and cancer in the united states. the company's lead product candidate is kzr-616, a selective immunoproteasome inhibitor that is in phase 2 clinical trials across five autoimmune indications, including lupus nephritis, autoimmune hemolytic anemia, immune thrombocytopenia, dermatomyositis, and polymyositis; and phase 1b/2 clinical trials in systemic lupus erythematosus and lupus nephritis. its preclinical products include kzr-616, a selective immunoproteasome inhibitor for the treatment of various autoimmune disease indications; and kzr-tbd for the treatment of oncology and autoimmunity. the company was founded in 2015 and is headquartered in south san francisco, california.