SAN
MATEO, Calif., May 20, 2024
/PRNewswire/ -- Talphera, Inc. (Nasdaq: TLPH), ("Talphera"), a
specialty pharmaceutical company focused on the development and
commercialization of innovative therapies for use in medically
supervised settings, today announced that the Board of Directors
of Talphera has granted inducement awards consisting of a
non-statutory time-based stock option to purchase 185,000 shares of
common stock and a time-based restricted stock unit award for
32,000 shares of common stock on May 20,
2024 to Dr. Shakil Aslam in
connection with his appointment as the Chief Development Officer of
Talphera in May 2024.
The non-statutory stock option grant has an exercise price per
share equal to $1.08, the closing
price of Talphera's common stock on May
20, 2024, which will vest as to 25% of such shares on
May 20, 2025, with the remainder
vesting in equal monthly installments over the subsequent
three-year period, subject to Dr. Aslam's continuous service on
each vesting date. The time-based restricted stock units will vest
over three years, with 1/3 of the underlying shares of common stock
vesting on May 20, 2025, and the
remainder vesting in equal annual installments over the subsequent
two-year period, subject to Dr. Aslam's continuous service on each
vesting date.
The Board of Directors, acting through a majority of the
independent directors, approved the equity awards as an inducement
material to Dr. Aslam's employment in accordance with Nasdaq
Listing Rule 5635(c)(4). The terms of the inducement awards are
governed by Talphera's 2020 Equity Incentive Plan but are made
outside of such plan.
About Talphera, Inc.
Talphera, Inc. is a specialty pharmaceutical company focused on
the development and commercialization of innovative therapies for
use in medically supervised settings. Talphera's lead product
candidate, Niyad™ is a lyophilized formulation of nafamostat and is
currently being studied under an investigational device exemption
(IDE) as an anticoagulant for the extracorporeal circuit, and has
received Breakthrough Device Designation status from the U.S. Food
and Drug Administration (FDA). Talphera is also developing two
pre-filled syringes in-licensed from its partner Aguettant:
Fedsyra™, a pre-filled ephedrine syringe, and PFS-02, a pre-filled
phenylephrine syringe.
This release is intended for investors only. For additional
information about Talphera, please visit www.talphera.com.
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SOURCE Talphera, Inc.