Kezar Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
October 06 2022 - 4:01PM
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 85,000 shares of its common stock with an exercise price
of $8.80 per share, which is equal to the closing price of Kezar’s
common stock on October 3, 2022, the grant date of the awards. The
stock options were granted as an inducement award material to the
individuals entering 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 and
autoimmune hepatitis. This product candidate 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/20221006005733/en/
Investor Contact: Gitanjali Jain Vice President, Investor
Relations and External Affairs gjain@kezarbio.com Media
Contact: Julia Deutsch Solebury Strategic Communications
jdeutsch@soleburystrat.com
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