Strongbridge Biopharma plc Announces New Employment Inducement Awards
March 17 2017 - 7:30AM
Strongbridge Biopharma plc, (Nasdaq:SBBP), a global
commercial-stage biopharmaceutical company focused on the
development and commercialization of therapies for rare diseases
with significant unmet needs, today announced that it has approved
inducement equity awards to 17 individuals who have recently
become, or are expected to become, non-executive employees of the
Company.
The inducement awards are being made in the form
of non-qualified stock options to purchase an aggregate of 326,000
ordinary shares of the Company, and are being made as a material
inducement to these individuals to enter into employment with the
Company pursuant to NASDAQ Listing Rule 5635(c)(4).
The exercise price of the options will be equal
to the closing price of the Company’s ordinary shares on the grant
date and will be exercisable in 16 equal quarterly installments
following the grant date, subject to the employee’s continuous
employment with the Company. The options will have a ten-year
term and will be subject to the terms and conditions of the
Company’s 2017 Inducement Plan, pursuant to which the options have
been, or will be, granted.
About Strongbridge
BiopharmaStrongbridge Biopharma is a global
commercial-stage biopharmaceutical company focused on the
development and commercialization of therapies for rare diseases
with significant unmet needs. Strongbridge's first commercial
product is KEVEYIS® (dichlorphenamide), the first and only
FDA-approved treatment for hyperkalemic, hypokalemic, and related
variants of Primary Periodic Paralysis. KEVEYIS has orphan drug
exclusivity status in the U.S. through August 7, 2022. In addition
to establishing this neuromuscular disease franchise, the Company
has a clinical-stage pipeline of therapies for rare endocrine
diseases. Strongbridge's lead compounds include COR-003
(levoketoconazole), a cortisol synthesis inhibitor currently being
studied for the treatment of endogenous Cushing's syndrome, and
COR-005, a next-generation somatostatin analog (SSA) being
investigated for the treatment of acromegaly, with potential
additional applications in Cushing's syndrome and neuroendocrine
tumors. Both COR-003 and COR-005 have received orphan designation
from the U.S. Food and Drug Administration and the European
Medicines Agency. For more information, visit
www.strongbridgebio.com.
Forward-Looking StatementsThis
press release contains forward-looking statements that involve
substantial risks and uncertainties. All statements, other
than statements of historical facts, contained in this press
release, are forward-looking statements. These statements relate to
future events and involve known and unknown risks, including,
without limitation, uncertainties regarding Strongbridge's
strategy, plans, and objectives of management for future
operations. The words "anticipate," "estimate," "expect," "intend,"
"may," "plan," "potential," "project," "target," "will," "would,"
or the negative of these terms or other similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections and are not guarantees of
future performance or development and involve known and unknown
risks, uncertainties and other factors. The forward-looking
statements contained in this press release are made as of the date
of this press release, and Strongbridge Biopharma does
not assume any obligation to update any forward-looking statements
except as required by applicable law.
Contacts:
Corporate and Media Relations
Elixir Health Public Relations
Lindsay Rocco
+1 862-596-1304
lrocco@elixirhealthpr.com
Investor Relations
The Trout Group
Marcy Nanus
+1 646-378-2927
mnanus@troutgroup.com
USA
900 Northbrook Drive
Suite 200
Trevose, PA 19053
Tel. +1 610-254-9200
Fax. +1 215-355-7389
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