Protara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Protara Therapeutics (Nasdaq: TARA) announced the grant of inducement non-qualified stock options for 3,700 shares to a new employee.
Sentiment and the balance of points
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Rhea-AI Summary
Protara Therapeutics (Nasdaq: TARA) announced the grant of inducement non-qualified stock options for 3,700 shares to a new employee. The exercise price is set at $51.12, equivalent to Protara's closing price on June 1, 2020. The options will vest over four years, with 25% cliff vesting on the first anniversary, followed by monthly vesting. The award aligns with NASDAQ Listing Rule 5635(c)(4) and is designed to attract talent for Protara's focus on rare diseases, including TARA-002 for lymphatic malformations and IV choline chloride for intestinal failure-associated liver disease.
Positive
- Inducement stock options granted to attract new talent.
- Stock options valued at $51.12 per share, reflecting the market price.
- Structured vesting plan aligns employee interests with company success.
Negative
- None.
Details
News Market Reaction – TARA
The recorded move for TARA in the trading session of this news was -4.66%.
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NEW YORK, June 02, 2020 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a development-stage clinical biopharmaceutical company developing treatments for rare and specialty diseases with significant unmet needs, today announced the grants of inducement non-qualified stock options to purchase an aggregate of 3,700 shares of common stock to one new employee.
Each stock option has an exercise price per share equal to
The Compensation Committee of Protara’s Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with NASDAQ Listing Rule 5635(c)(4).
About Protara Therapeutics
Protara is focused on identifying and optimizing product candidates for patients suffering from rare and specialty diseases where there is a significant unmet need. Protara’s current development programs focus on the treatment of rare diseases in structural and connective tissues, as well as rare hepatology/gastrointestinal and metabolic disorders. The Company’s lead program, TARA-002, is being developed for the treatment of lymphatic malformations. Protara’s second program, IV choline chloride, is a phospholipid substrate replacement therapy in development for the treatment of intestinal failure-associated liver disease.
Company Contact:
Blaine Davis
Protara Therapeutics
Blaine.Davis@protaratx.com
646-844-0337
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