Inozyme Pharma Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
03 Mai 2024 - 2:30PM
Inozyme Pharma, Inc. (Nasdaq: INZY) (“Company” or “Inozyme”), a
clinical-stage rare disease biopharmaceutical company developing
novel therapeutics for the treatment of pathologic mineralization
and intimal proliferation, today announced that it granted stock
options to one new employee to purchase shares of the Company’s
common stock, pursuant to the Company’s 2023 Inducement Stock
Incentive Plan, as an inducement material to the new employee
entering into employment with the Company in accordance with Nasdaq
Listing Rule 5635(c)(4).
The Company’s compensation committee granted
nonstatutory stock options to purchase up to an aggregate of 20,000
shares of the Company’s common stock to the one new employee on May
1, 2024, at an exercise price of $4.61 per share, the closing price
per share of the Company’s common stock as reported by Nasdaq on
May 1, 2024. The options have a 10-year term and vest over four
years, with 25% of the original number of shares vesting on the
first anniversary of the employee’s start date and 2.0833% of the
shares underlying the option vesting monthly thereafter, subject to
such employee’s continued service to the Company through the
applicable vesting dates.
About Inozyme
Pharma
Inozyme Pharma, Inc. is a clinical-stage rare disease
biopharmaceutical company developing novel therapeutics for the
treatment of diseases impacting the vasculature, soft tissue, and
skeleton. Inozyme is developing INZ-701, an enzyme replacement
therapy, to address pathologic mineralization and intimal
proliferation, which can drive morbidity and mortality in these
severe diseases. INZ-701 is currently in clinical development for
the treatment of ENPP1 Deficiency, ABCC6 Deficiency, and
calciphylaxis.For more information, please visit
https://www.inozyme.com/ or follow Inozyme on
LinkedIn, X (formerly
Twitter), and Facebook.
ContactsInvestors:Inozyme PharmaStefan Riley,
Senior Director of IR and Corporate Communications (857)
330-8871stefan.riley@inozyme.com
Media: SmithSolve Matt Pera (973)
886-9150matt.pera@smithsolve.com
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