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Pharma Tech Outlook | Monday, May 17, 2021
Prothena Corporation announces an inducement grant.
FREMONT, CA: Prothena Corporation, a late-stage clinical firm with a robust pipeline of new investigational therapeutics developed on protein dysregulation expertise, announces that in connection with hiring two new employees, the compensation committee of the Company's board of directors given the individuals employed by the Company, in the aggregate, choices to purchase 155,000 ordinary shares of the Company.
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The choices have an exercise price per share equal to $27.04, which was the closing trading price on May 3, 2021, the date of the grants. The inducements will vest over four years, with 25 percent of the underlying shares vesting on the first anniversary of the date of grants and 1/48th of the underlying shares vesting monthly after that over 36 months. The choices were granted according to the Company's 2020 Employment Inducement Incentive Plan, approved by the Company's board of directors under Rule 5635(c)(4) of The Nasdaq Global Market for equity to induce new employees to enter into employment with the Company.
Prothena Corporation plc is a late-stage clinical firm with a robust pipeline of novel investigational therapeutics built on protein dysregulation expertise with the ability to change the course of devastating rare peripheral amyloid and neurodegenerative illnesses. Fueled by its deep scientific expertise built over years of research, Prothena is advancing a pipeline of therapeutic candidates for several indications and new targets for its potential to integrate scientific insights around neurological dysfunction, and the biology of misfolded proteins can be used. Prothenas pipeline comprises both wholly-owned and partnered programs being developed for the potential treatment of illnesses including AL amyloidosis, ATTR amyloidosis, Alzheimer's disease, Parkinson's disease, and several other neurodegenerative diseases.
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