Portola Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
27 Juillet 2017 - 10:09PM
Portola Pharmaceuticals, Inc.® (NASDAQ:PTLA) announced today that
on July 25, 2017, the Compensation Committee of the Board of
Directors approved, effective as of July 31, 2017, the grant of
inducement stock options to purchase an aggregate of 342,000 shares
of common stock to 53 new employees.
Each stock option shall have an exercise price per share equal
to the closing price per share of the Company’s Common Stock on
July 31, 2017, and will vest over four years, with 25% of the
shares vesting on the one-year anniversary of the applicable
vesting commencement date and the remaining shares vest ratably
over the subsequent 36 months, subject to each new employee's
continued service with the Company. Each stock option has a ten
year term and is subject to the terms and conditions of the
Company's Inducement Plan and the stock option agreement pursuant
to which the option was granted.
The stock options were granted as inducements material to the
new employees entering into employment with Portola in accordance
with NASDAQ Listing Rule 5635(c)(4).
About Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals is a
biopharmaceutical company developing product candidates that could
significantly advance the fields of thrombosis and other
hematologic diseases. The Company’s first medicine
Bevyxxa® (betrixaban), an oral, once-daily Factor
Xa inhibitor, was approved by the U.S. Food and Drug Administration
in June 2017. The company is also working to advance two clinical
programs for andexanet alfa, a recombinant protein designed to
reverse the anticoagulant effect in patients treated with an oral
or injectable Factor Xa inhibitor; and cerdulatinib, a SYK/JAK
inhibitor in development to treat hematologic cancers. Portola's
partnered program is focused on developing selective SYK inhibitors
for inflammatory conditions. For more information,
visit http://www.portola.com and follow the Company on Twitter
@Portola_Pharma.
Investor Contact:
Mardi Dier, CFO
Portola Pharmaceuticals
IR@portola.com
Media Contact:
Julie Normart
Pure Communications
jnormart@purecommunications.com
415.946.1087
Portola Pharmaceuticals (NASDAQ:PTLA)
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