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Nabriva Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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DUBLIN, Ireland, April 02, 2021 (GLOBE NEWSWIRE) -- Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections, today announced that it has granted non-statutory stock options to purchase an aggregate of 106,000 ordinary shares of Nabriva Therapeutics as an inducement to two newly-hired employees. These grants included a non-statutory option to purchase 100,000 ordinary shares of Nabriva Therapeutics awarded to Daniel Dolan, Nabriva’s newly appointed Chief Financial Officer. Both awards were made pursuant to the Nasdaq inducement grant exception as a component of the new hires’ employment compensation.
The stock options were granted effective March 31, 2021 with an exercise price of $1.66 per share, which is equal to the closing price of Nabriva Therapeutics’s ordinary shares on the date of grant. Each stock option granted has a 10-year term and vests over four years, with 25% of the original number of shares vesting on the annual anniversary of the grant date until fully vested, subject to the employee's continued service with the Company through the applicable vesting dates. The stock option awards were approved by Nabriva Therapeutics’ Compensation Committee and were granted as an inducement material to each employee’s acceptance of employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each of the stock options is subject to the terms and conditions of a stock option agreement covering the grant and Nabriva Therapeutics’ 2021 Inducement Share Incentive Plan.
About Nabriva Therapeutics plc Nabriva Therapeutics is a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections. Nabriva Therapeutics received U.S. Food and Drug Administration approval for XENLETA® (lefamulin injection, lefamulin tablets), the first systemic pleuromutilin antibiotic for community-acquired bacterial pneumonia (CABP). Nabriva Therapeutics is also developing CONTEPO™ (fosfomycin) for injection, a potential first-in-class epoxide antibiotic for complicated urinary tract infections (cUTI), including acute pyelonephritis. Nabriva entered into an exclusive agreement with subsidiaries of Merck & Co. Inc., Kenilworth, N.J., USA to market, sell and distribute SIVEXTRO® (tedizolid phosphate) in the United States and certain of its territories.
CONTACTS:
For Investors Kim Anderson Nabriva Therapeutics plc ir@nabriva.com
nabriva is a clinical-stage biopharmaceutical company engaged in the research and development of novel antibiotics to treat serious infections, with a focus on the pleuromutilin class of antibiotics. our goal is to become a fully integrated biopharmaceutical company focused on the research, development and commercialization of novel anti-infective products. nabriva was incorporated as a spin-off from sandoz gmbh antibiotics research institute (abri) in vienna, austria and commenced operations in february 2006. the new organization included small molecule assets, including pleuromutilin structure activity relationships (sar) knowledge and was focused on synthesis of pleuromutilins for systemic human use. following identification of our lead compound lefamulin and based on the clinical results of lefamulin for acute skin and skin structure infections. we believed that targeted in vitro spectrum of activity for the common pathogens causing community acquired bacterial pneumonia (cabp), wo
