WALTHAM, Mass., Feb. 4, 2022 /PRNewswire/ -- Ardelyx, Inc.
(Nasdaq: ARDX), a biopharmaceutical company founded with a mission
to discover, develop and commercialize innovative first-in-class
medicines that meet significant unmet medical needs, today
announced that on February 1, 2022,
the compensation committee of the company's board of directors
granted four new non-executive employees options to purchase an
aggregate of 35,547 shares of the company's common stock, and
granted an aggregate of 25,750 Restricted Stock Units (RSUs) to
five new non-executive employees. Each stock option has an exercise
price per share equal to $0.84 per
share, which was the closing trading price of the company's common
stock on the date of grant. The stock options and RSUs were granted
as inducements material to each employee's decision to enter into
employment with Ardelyx, in accordance with Nasdaq Listing Rule
5635(c)(4).
![Ardelyx logo (PRNewsFoto/Ardelyx) (PRNewsfoto/Ardelyx) Ardelyx logo (PRNewsFoto/Ardelyx) (PRNewsfoto/Ardelyx)](https://mma.prnewswire.com/media/1309911/Ardelyx_Logo.jpg)
Each stock option vests over four years, with 25% of the shares
vesting on the first anniversary of the grant date, and the
remaining 75% of shares vesting monthly thereafter. Each RSU vests
over four years, with 25% vesting on the first company designated
quarterly RSU vest date following the first anniversary of the
grant date, and the remaining 75% of shares vesting quarterly
thereafter. Each stock option has a 10-year term, and each option
and RSU is subject to the terms and conditions of the company's
2016 Employment Commencement Incentive Plan and the award agreement
covering the grant.
About Ardelyx, Inc.
Ardelyx is focused on discovering, developing and
commercializing innovative first-in-class medicines to meet
significant unmet medical needs. Ardelyx received approval for
IBSRELA® (tenapanor) with plans to launch in the second
quarter of 2022. Ardelyx is developing tenapanor, a novel product
candidate to control serum phosphorus in adult patients with CKD on
dialysis, which has completed three successful Phase 3 trials.
Ardelyx is also advancing RDX013, a potassium secretagogue, for the
potential treatment of elevated serum potassium, or hyperkalemia, a
problem among certain patients with kidney and/or heart disease and
has an early-stage program in metabolic acidosis, a serious
electrolyte disorder in patients with CKD. Ardelyx has
established agreements with Kyowa Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada for the development and
commercialization of tenapanor in their respective territories.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ardelyx-inc-reports-employment-inducement-grants-301475507.html
SOURCE Ardelyx