Kezar Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
July 06 2022 - 4:30PM
Business Wire
Kezar Life Sciences, Inc., (Nasdaq: KZR), a clinical-stage
biotechnology company discovering and developing breakthrough
treatments for immune-mediated and oncologic disorders, today
announced that the Compensation Committee of the company’s Board of
Directors granted three employees nonqualified stock options to
purchase an aggregate of 24,500 shares of its common stock with an
exercise price of $9.29 per share, which is equal to the closing
price of Kezar’s common stock on July 1, 2022. The stock options
were granted as an inducement award material to the individuals
entering into employment with Kezar, in accordance with Nasdaq
Listing Rule 5635(c)(4).
The stock options will vest over a four-year period, with 25% of
each option vesting on the first anniversary of the employee’s
start date, and 1/48th of the total shares vesting monthly
thereafter, subject to continued employment on each vesting date.
The options are subject to the terms and conditions of Kezar’s 2022
Inducement Plan and the stock option agreement covering the
grants.
About Kezar Life Sciences
Kezar Life Sciences is a clinical-stage biopharmaceutical
company discovering and developing breakthrough treatments for
immune-mediated and oncologic disorders. The company is pioneering
first-in-class, small-molecule therapies that harness master
regulators of cellular function to inhibit multiple drivers of
disease via single, powerful targets. Zetomipzomib, its lead
development asset, is a selective immunoproteasome inhibitor being
evaluated in a Phase 2 clinical trial in lupus nephritis. This
product candidate also has the potential to address multiple
chronic immune-mediated diseases. KZR-261 is the first anti-cancer
clinical candidate from the company’s platform targeting the Sec61
translocon and the protein secretion pathway. An open-label
dose-escalation Phase 1 clinical trial of KZR-261 to assess safety,
tolerability and preliminary tumor activity in solid tumors is
underway. For more information, visit
www.kezarlifesciences.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220706005837/en/
Gitanjali Jain Vice President, Investor Relations and External
Affairs 650-269-7523 gjain@kezarbio.com Liza Sullivan Argot
Partners 212-600-1902 kezar@argotpartners.com
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