Kezar Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
Kezar Life Sciences, a leading biotechnology company focused on developing groundbreaking treatments for immune-mediated and oncologic disorders, has made an exciting announcement today. The Compensation Committee of the company’s Board of Directors has granted a nonqualified stock option to one of its employees, further highlighting Kezar’s commitment to attracting top talent.
This inducement award, in accordance with Nasdaq Listing Rule 5635(c)(4), grants the employee the opportunity to purchase 18,000 shares of Kezar’s common stock. The exercise price for these shares is set at $1.15 per share, reflecting the closing price of Kezar’s common stock on October 2, 2023, the day the award was granted.
The stock option will vest over a four-year period, with 25% of the option becoming available on the first anniversary of the employee’s start date. Subsequently, 1/48th of the total shares will vest monthly, contingent upon the employee’s continued employment on each vesting date. This structure not only incentivizes the employee but also ensures their ongoing commitment to Kezar’s mission.
Kezar’s 2022 Inducement Plan and the stock option agreement covering the grant govern the terms and conditions of this stock option. By providing such attractive incentives, Kezar demonstrates its dedication to fostering a positive and rewarding work environment that encourages employee growth and success.
Kezar Life Sciences is a clinical-stage biopharmaceutical company at the forefront of developing novel treatments for immune-mediated and oncologic disorders. One of its promising product candidates, Zetomipzomib, is currently undergoing evaluation in a Phase 2b clinical trial for lupus nephritis and a Phase 2a clinical trial for autoimmune hepatitis. This innovative therapy has the potential to address multiple chronic immune-mediated diseases, offering hope to patients worldwide.
Additionally, Kezar’s oncology product candidate, KZR-261, is being assessed in an open-label dose-escalation Phase 1 clinical trial. This trial aims to evaluate the safety, tolerability, and preliminary tumor activity of KZR-261 in solid tumors. The company’s commitment to advancing these potential breakthrough treatments showcases its dedication to improving patient outcomes and revolutionizing the field of biopharmaceuticals.
For more information about Kezar Life Sciences and its groundbreaking research, visit their official website. Stay updated on the latest news and developments by following Kezar on LinkedIn, Facebook, Twitter, and Instagram.
Kezar Life Sciences continues to make significant strides in the biopharmaceutical industry, attracting top talent and developing innovative therapies that have the potential to transform the lives of patients. With its unwavering commitment to scientific excellence and patient-centric approach, Kezar is poised to make a lasting impact in the field of immune-mediated and oncologic disorders.