Eledon Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 13 2024 - 7:01PM
Eledon Pharmaceuticals, Inc. (“Eledon”) (NASDAQ: ELDN) today
announced that the Company’s Compensation Committee granted 42,500
restricted stock units (RSUs) and stock options to purchase an
aggregate of 90,000 common shares, at a per share exercise price
of $1.77, the closing price of Eledon’s common stock on the
grant date, to one employee. The RSUs and stock options were
granted as inducements material to the new employee entering
employment with Eledon in accordance with Nasdaq Listing Rule
5635(c)(4).
The RSUs vest fully on the one-year anniversary of the grant
date. The stock options have a ten-year term and vest over four
years, with 25% of the original number of shares vesting on the
one-year anniversary of the grant date and 6.25% of the stock
options vesting quarterly thereafter until fully vested on the
fourth anniversary of the grant date. In each case, vesting is
subject to the relevant employee's continued service with Eledon on
the applicable vesting date.
About Eledon Pharmaceuticals and
tegoprubart
Eledon Pharmaceuticals, Inc. is a clinical stage
biotechnology company that is developing immune-modulating
therapies for the management and treatment of life-threatening
conditions. The Company’s lead investigational product is
tegoprubart, an anti-CD40L antibody with high affinity for CD40
Ligand, a well-validated biological target within the
costimulatory CD40/CD40L cellular pathway. The central role of
CD40L signaling in both adaptive and innate immune cell
activation and function positions it as an attractive target
for non-lymphocyte depleting, immunomodulatory therapeutic
intervention. The Company is building upon a deep historical
knowledge of anti-CD40 Ligand biology to conduct preclinical and
clinical studies in kidney allograft transplantation,
xenotransplantation, and amyotrophic lateral sclerosis (ALS).
Eledon is headquartered in Irvine, California. For
more information, please visit the Company’s website
at www.eledon.com.
Follow Eledon Pharmaceuticals on social
media: LinkedIn; Twitter
Investor Contact:
Stephen JasperGilmartin Group(858) 525
2047stephen@gilmartinir.com
Media Contact:
Jenna UrbanBerry & Company Public Relations(212) 253
8881jurban@berrypr.com
Source: Eledon Pharmaceuticals
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