aTyr Pharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
09 Juni 2023 - 10:00PM
aTyr Pharma, Inc. (Nasdaq: LIFE), a biotherapeutics company engaged
in the discovery and development of first-in-class medicines from
its proprietary tRNA synthetase platform, today announced that the
Compensation Committee of aTyr’s Board of Directors has granted two
employees nonstatutory stock options to purchase an aggregate of
23,400 shares of its common stock, each with an exercise price of
$2.26 per share, which is equal to the closing price of aTyr’s
common stock on the Nasdaq Capital Market on June 8, 2023, the
effective date of the grants. These stock awards were granted as an
inducement material to the new employees entering into employment
with aTyr in accordance with Nasdaq Listing Rule 5635(c)(4) and
were made pursuant to the aTyr Pharma, Inc. 2022 Inducement Plan.
Each option vests over a period of four years,
with 25% of the shares vesting on the one-year anniversary of the
applicable vesting commencement date and the remaining 75% vesting
in equal monthly installments over three years, subject to the
applicable employee’s continued employment with aTyr through each
vesting date. The options are subject to the terms and conditions
of the aTyr Pharma, Inc. 2022 Inducement Plan and the terms and
conditions of an award agreement covering the grant.
About aTyr
aTyr is a biotherapeutics company engaged in the
discovery and development of first-in-class medicines from its
proprietary tRNA synthetase platform. aTyr’s research and
development efforts are concentrated on a newly discovered area of
biology, the extracellular functionality and signaling pathways of
tRNA synthetases. aTyr has built a global intellectual property
estate directed to a potential pipeline of protein compositions
derived from 20 tRNA synthetase genes and their extracellular
targets. aTyr’s primary focus is efzofitimod, a clinical-stage
product candidate which binds to the neuropilin-2 receptor and is
designed to downregulate immune engagement in fibrotic lung
disease. For more information, please visit www.atyrpharma.com.
Contact:Ashlee DunstonDirector,
Investor Relations and Corporate
Communicationsadunston@atyrpharma.com
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