12/06/2019 | Press release | Distributed by Public on 12/06/2019 07:51
NEW YORK--(BUSINESS WIRE)--Dec. 6, 2019-- UroGen Pharma Ltd. (Nasdaq:URGN), a clinical-stage biopharmaceutical company developing treatments to address unmet needs in uro-oncology, today announced the grants of inducement restricted stock units ('RSUs') to five new employees in connection with their employment with Urogen. These new team members will support pre-launch activities and infrastructure buildout as the Company prepares for potential approval and commercial launch of its first product candidate.
Up to 22,000 shares of UroGen Pharma's common stock are issuable upon the vesting and settlement of the RSUs. The RSUs vest over three years, with one third of the underlying shares vesting after one year from the vesting date, and the balance of the underlying shares vesting on a quarterly basis thereafter, subject in each case to the employee's continued service relationship with UroGen.
The RSUs are subject to the terms and conditions of UroGen's 2019 Inducement Plan and RSU grant notice and agreement thereunder.
The RSU grants were granted as an inducement material to each employee entering into employment with UroGen Pharma in accordance with Nasdaq listing Rule 5635(c)(4).
About UroGen Pharma Ltd.
UroGen Pharma Ltd. (Nasdaq:URGN) is a clinical-stage biopharmaceutical company developing advanced non-surgical treatments to address unmet needs in the field of urology, with a focus on uro-oncology. UroGen has developed RTGel™ reverse-thermal hydrogel, a proprietary sustained release, hydrogel-based platform technology that has the potential to improve therapeutic profiles of existing drugs. UroGen's sustained release technology is designed to enable longer exposure of the urinary tract tissue to medications, making local therapy a potentially more effective treatment option. UroGen's lead investigational candidates, UGN-101 (mitomycin gel) for instillation, and UGN-102 (mitomycin gel) for intravesical instillation, are designed to potentially ablate tumors by non-surgical means and to treat several forms of non-muscle invasive urothelial cancer, including low-grade upper tract urothelial cancer and low-grade non-muscle invasive bladder cancer, respectively. UroGen is headquartered in New York, NY with operations in Israel.
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Source: UroGen Pharma Ltd.
Senior Director, Investor Relations