Insmed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
22 Novembre 2017 - 10:30PM
Insmed Incorporated (Nasdaq:INSM), a global biopharmaceutical
company focused on the unmet needs of patients with rare diseases,
today announced the granting of inducement awards to ten new
employees. In accordance with NASDAQ Listing Rule 5635(c)(4), the
awards were approved by Insmed’s Compensation Committee and made as
a material inducement to each employee’s entry into employment with
the Company.
In connection with the November 13, 2017 commencement of their
employment, the employees received options to purchase an aggregate
29,860 shares of Insmed common stock at an exercise price of $31.78
per share, the closing trading price on the Nasdaq Global Select
Market on the date of grant.
The options have a ten-year term and a four-year vesting
schedule, with 25% of the shares subject to the option vesting on
the first anniversary of the relevant grant date and 12.5% of the
shares subject to the option vesting every six months thereafter
through the fourth anniversary of the relevant grant date, subject
to the relevant employee’s continued service with Insmed on the
applicable vesting date.
About Insmed
Insmed Incorporated is a global biopharmaceutical company
focused on the unmet needs of patients with rare diseases. The
Company's lead product candidate is ALIS for adult patients with
treatment refractory NTM lung disease caused by MAC, which is a
rare and often chronic infection that is capable of causing
irreversible lung damage and can be
fatal. Insmed has released top-line results from
the phase 3 CONVERT study indicating the trial met the primary
endpoint of culture conversion. The Company is not aware of any
approved inhaled therapies specifically indicated for refractory
NTM lung disease caused by MAC in North
America, Japan or
Europe. Insmed's earlier-stage clinical pipeline
includes INS1007, a novel oral reversible inhibitor of dipeptidyl
peptidase 1 with therapeutic potential in non-cystic fibrosis
bronchiectasis, and INS1009, an inhaled nanoparticle formulation of
a treprostinil prodrug that may offer a differentiated product
profile for rare pulmonary disorders, including pulmonary arterial
hypertension. For more information,
visit www.insmed.com.
Investor Contact:Blaine Davis Vice President, Head of Investor
Relations Insmed Incorporated (908) 947-2841
blaine.davis@insmed.com
Insmed (NASDAQ:INSM)
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