Kezar Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
August 03 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, in connection with the previously announced
appointment of Nick Mordwinkin, Pharm.D., Ph.D., as the Company’s
Chief Business Officer, the Compensation Committee of the company’s
Board of Directors granted Dr. Mordwinkin a nonqualified stock
option to purchase 200,000 shares of its common stock with an
exercise price of $9.35 per share, which is equal to the closing
price of Kezar’s common stock on August 1, 2022. In addition, the
Compensation Committee of the company’s Board of Directors granted
one additional employee a nonqualified stock option to purchase
60,000 shares of its common stock with an exercise price of $9.35
per share, which is equal to the closing price of Kezar’s common
stock on August 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/20220803005778/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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