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

Rhea-AI Summary

Taysha Gene Therapies announced that its Compensation Committee granted stock options to three new employees on November 1, 2024. The options allow the purchase of 157,000 shares of common stock at $1.53 per share, matching the closing price on the grant date. These options were granted under the company's 2023 Inducement Plan, following Nasdaq Listing Rule 5635(c)(4). The options have a 10-year term and vest over four years, with 25% vesting after one year and the remaining 75% vesting monthly over the following 36 months, subject to continued employment.

Positive

• Stock options align new employee interests with shareholder value

Negative

• Potential future dilution of existing shareholders through stock option grants

DALLAS, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Taysha Gene Therapies, Inc. (Nasdaq: TSHA) (Taysha or the Company), 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 November 1, 2024, the Compensation Committee of Taysha's Board of Directors granted three new employees, in the aggregate, options to purchase 157,000 shares of the Company's common stock in connection with their employment. The stock options were granted under the Taysha Gene Therapies, Inc. 2023 Inducement Plan as an inducement material to the individuals entering employment with Taysha in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $1.53 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

How many shares were granted in Taysha Gene Therapies (TSHA) November 2024 stock options?

Taysha Gene Therapies granted options to purchase 157,000 shares of common stock to three new employees.

What is the exercise price for TSHA's November 2024 stock option grant?

The stock options have an exercise price of $1.53 per share, equal to the closing price on November 1, 2024.

What is the vesting schedule for TSHA's November 2024 stock options?

The options vest over 4 years, with 25% vesting after the first year and the remaining 75% vesting monthly over the following 36 months.