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

Rhea-AI Summary

Taysha Gene Therapies (Nasdaq: TSHA) announced that its Compensation Committee has granted a stock option to one new employee on January 2, 2025. The grant includes options to purchase 311,000 shares of common stock at an exercise price of $1.85 per share, matching the closing price on the grant date. The stock option was issued under the company's 2023 Inducement Plan, complying with Nasdaq Listing Rule 5635(c)(4). The option has a 10-year term and follows a four-year vesting schedule: 25% vests after the first year, with the remaining 75% vesting monthly over the following 36 months, contingent on continued employment.

Positive

• New employee compensation aligned with market value through equity-based incentives
• Long-term retention strategy implemented through 4-year vesting schedule

Negative

• Potential dilution of existing shareholders through new stock option issuance

DALLAS, Jan. 03, 2025 (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 January 2, 2025, 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 $1.85 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 TSHA's new stock option grant announced on January 2, 2025?

The stock option has an exercise price of $1.85, which equals the closing price of Taysha's common stock on the date of grant.

How many shares were included in TSHA's January 2025 inducement grant?

The inducement grant included options to purchase 311,000 shares of the Company's common stock.

What is the vesting schedule for TSHA's January 2025 stock option grant?

The stock option vests over four years, with 25% vesting after the first year and the remaining 75% vesting in equal monthly installments over the following 36 months.

Under which plan was TSHA's January 2025 stock option grant issued?

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