Albireo Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
08 September 2021 - 10:30PM
Albireo Pharma, Inc. (Nasdaq: ALBO), a rare pediatric liver disease
company developing novel bile acid modulators, today announced the
grant of inducement stock options exercisable for an aggregate of
15,000 shares of Albireo’s common stock and restricted stock units
representing the opportunity to acquire 3,500 shares of Albireo’s
common stock. The exercise price for the inducement grants is
$29.50 per share, the closing price of Albireo’s common stock on
September 7, 2021, the grant date, and were granted as inducements
material to the employee’s acceptance of employment with Albireo in
accordance with Nasdaq Listing Rule 5635(c)(4). Each stock option
has a 10-year term and vests over a four-year period, subject to
the employee’s continued service with Albireo through the
applicable vesting dates. The vesting schedule for each stock
option is 25 percent on the one-year anniversary of the employee’s
start date with Albireo and 75 percent in 12 equal quarterly
installments thereafter. The stock options are subject to the terms
and conditions of Albireo’s 2020 Inducement Equity Incentive Plan.
About AlbireoAlbireo Pharma is
a rare disease company focused on the development of novel bile
acid modulators to treat rare pediatric and adult liver diseases.
Albireo’s product, Bylvay, was approved by the U.S. FDA as the
first drug for the treatment of pruritus in all types of
progressive familial intrahepatic cholestasis (PFIC), and is also
being developed to treat other rare pediatric cholestatic liver
diseases with Phase 3 trials in Alagille syndrome and biliary
atresia, as well as an Open-label Extension (OLE) study for PFIC.
In Europe, Bylvay has been approved for the treatment of PFIC and
has been submitted for pricing and reimbursement approval. The
Company has also initiated a Phase 1 clinical trial for A3907 to
advance development in adult cholestatic liver disease, with
IND-enabling studies moving ahead with A2342 for viral and
cholestatic liver disease. Albireo was spun out from AstraZeneca in
2008 and is headquartered in Boston, Massachusetts, with its key
operating subsidiary in Gothenburg, Sweden. The Boston Business
Journal named Albireo one of the 2020 Best Places to Work in
Massachusetts for the second consecutive year. For more information
on Albireo, please visit www.albireopharma.com.
Media Contact: Colleen
Alabiso, 857-356-3905, colleen.alabiso@albireopharma.comLauren
Sneider, 857-300-1737, lauren.sneider@albireopharma.com
Investor Contact: Hans
Vitzthum, LifeSci Advisors, LLC., 617-430-7578
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