Taysha Gene Therapies Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Taysha Gene Therapies (Nasdaq: TSHA), a clinical-stage biotech company focusing on AAV-based gene therapies for severe monogenic CNS diseases, has announced an inducement grant under Nasdaq Listing Rule 5635(c)(4). On September 3, 2024, the company's Compensation Committee granted a new employee an option to purchase 311,000 shares of common stock. The stock option, issued under Taysha's 2023 Inducement Plan, has an exercise price of $2.06 per share, equal to the closing price on the grant date. The option has a 10-year term and will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting monthly over the following 36 months, subject to continued employment.

Positive

• Attraction of new talent with stock options as incentive
• Alignment of employee interests with company performance through equity compensation

Negative

• Potential dilution of existing shareholders' equity

DALLAS, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a clinical-stage biotechnology company focused on advancing adeno-associated virus (AAV)-based gene therapies for severe monogenic diseases of the central nervous system (CNS), today announced that, on September 3, 2024, the Compensation Committee of Taysha's Board of Directors granted one new employee an option to purchase 311,000 shares of the Company's common stock in connection with their employment. The stock option was granted under the Taysha Gene Therapies, Inc. 2023 Inducement Plan as an inducement material to the individual entering employment with Taysha in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price of $2.06 per share, which is equal to the closing price of Taysha's common stock on the date of grant. The stock option has a 10-year term and will vest over four years, with 25% of the option vesting on the first anniversary of the vesting commencement date and the remaining 75% of the option vesting in equal monthly installments over the 36 months thereafter. Vesting of the stock option is subject to such employee's continued service to Taysha on each vesting date.

About Taysha Gene Therapies
Taysha Gene Therapies (Nasdaq: TSHA) is a clinical-stage biotechnology company focused on advancing adeno-associated virus (AAV)-based gene therapies for severe monogenic diseases of the central nervous system. Its lead clinical program TSHA-102 is in development for Rett syndrome, a rare neurodevelopmental disorder with no approved disease-modifying therapies that address the genetic root cause of the disease. With a singular focus on developing transformative medicines, Taysha aims to address severe unmet medical needs and dramatically improve the lives of patients and their caregivers. The Company’s management team has proven experience in gene therapy development and commercialization. Taysha leverages this experience, its manufacturing process and a clinically and commercially proven AAV9 capsid in an effort to rapidly translate treatments from bench to bedside. For more information, please visit http://www.tayshagtx.com.

Company Contact:
Hayleigh Collins
Director, Head of Corporate Communications and Investor Relations
Taysha Gene Therapies, Inc.
hcollins@tayshagtx.com

Media Contact:
Carolyn Hawley
Inizio Evoke
Carolyn.hawley@inizioevoke.com

FAQ

What is the exercise price of the stock option granted by Taysha Gene Therapies (TSHA) on September 3, 2024?

The stock option granted by Taysha Gene Therapies (TSHA) on September 3, 2024, has an exercise price of $2.06 per share, which is equal to the closing price of Taysha's common stock on the date of grant.

How many shares of common stock are included in the option granted by Taysha Gene Therapies (TSHA) to the new employee?

Taysha Gene Therapies (TSHA) granted a new employee an option to purchase 311,000 shares of the Company's common stock.

What is the vesting schedule for the stock option granted by Taysha Gene Therapies (TSHA) on September 3, 2024?

The stock option will vest over four years, with 25% vesting on the first anniversary of the vesting commencement date and the remaining 75% vesting in equal monthly installments over the following 36 months, subject to the employee's continued service to Taysha.

Under which plan was the inducement grant issued by Taysha Gene Therapies (TSHA) on September 3, 2024?

The inducement grant was issued under the Taysha Gene Therapies, Inc. 2023 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4).