Insmed Incorporated Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
13 Janvier 2015 - 2:00PM
Business Wire
Insmed Incorporated (NASDAQ:INSM) today announced that on
January 8, 2015, it approved non-statutory stock options to
purchase an aggregate of 100,000 shares of its common stock to two
new employees. The awards were made pursuant to the NASDAQ
inducement grant exception as a component of these new hires'
employment compensation in connection with the Company’s equity
grant program.
The inducement grants were approved by Insmed’s Compensation
Committee on January 8, 2015 and are being made as an inducement
material to each employee's acceptance of employment with the
Company in accordance with NASDAQ Listing Rule 5635(c)(4).
The stock option awards have an exercise price of $16.07 per
share, the closing price of Insmed’s common stock on January 8,
2015. The stock options issued each have a 10-year term and vest
over four years, with 25% of the original number of shares vesting
on the first anniversary of the date of the grant and an additional
12.5% of the original number of shares vesting at the end of each
subsequent six-month period thereafter, subject to the employee's
continued service with the Company through the applicable vesting
dates.
About Insmed Incorporated
Insmed Incorporated is a biopharmaceutical company dedicated to
improving the lives of patients battling serious lung diseases.
Insmed is focused on the development and commercialization of
ARIKAYCE™, or liposomal amikacin for inhalation, for at least two
identified orphan patient populations: patients with nontuberculous
mycobacteria (NTM) lung infections and cystic fibrosis (CF)
patients with Pseudomonas aeruginosa lung infections. Insmed is
also focused on the development of INS-1009 (treprostinil), the
Company’s novel inhalation formulation of a proven prostacyclin for
the treatment of pulmonary arterial hypertension (PAH), a chronic,
life-threatening disorder characterized by abnormally high blood
pressure in the arteries between the heart and lungs. For more
information, please visit http://www.insmed.com.
Forward-looking statements
This release contains forward-looking statements. Words, and
variations of words, such as “intend,” “expect,” “will,”
“anticipate,” “believe,” “continue,” “propose” and similar
expressions are intended to identify forward-looking statements.
Investors are cautioned that such statements in this release,
including statements relating to the status, results and timing of
clinical trials and clinical data, the anticipated benefits of
Insmed’s products, the anticipated timing of regulatory
submissions, and the ability to obtain required regulatory
approvals, bring products to market and successfully commercialize
products constitute forward-looking statements that involve risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Such risks
and uncertainties include, without limitation, failure or delay of
European, Canadian, U.S. Food and Drug Administration and other
regulatory reviews and approvals, competitive developments
affecting the Company’s product candidates, delays in product
development or clinical trials or other studies, patent disputes
and other intellectual property developments relating to the
Company’s product candidates, unexpected regulatory actions, delays
or requests, the failure of clinical trials or other studies or
results of clinical trials or other studies that do not meet
expectations, the fact that subsequent analyses of clinical trial
or study data may lead to different (including less favorable)
interpretations of trial or study results or may identify important
implications of a trial or study that are not reflected in
Company’s prior disclosures, and the fact that trial or study
results or subsequent analyses may be subject to differing
interpretations by regulatory agencies, the inability to
successfully develop the Company’s product candidates or receive
necessary regulatory approvals, the inability to make product
candidates commercially successful, changes in anticipated
expenses, changes in the Company’s financing requirements or
ability to raise additional capital, and other risks and challenges
detailed in the Company’s filings with the U.S. Securities and
Exchange Commission, including its Annual Report on Form 10-K
for the year ended December 31, 2013 and its subsequent
quarterly reports on Form 10-Q. Investors are cautioned not to
place undue reliance on any forward-looking statements that speak
only as of the date of this news release. The Company undertakes no
obligation to update these forward-looking statements to reflect
events or circumstances or changes in its expectations.
Investor Relations:LHAAnne Marie Fields,
212-838-3777Senior Vice Presidentafields@lhai.comorBruce Voss,
310-691-7100Managing Directorbvoss@lhai.com
Insmed (NASDAQ:INSM)
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