Retrophin Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
Retrophin, Inc. (NASDAQ:RTRX) today announced the grant of inducement awards to 66 employees, as well as the grant of an inducement award to Alvin Shih, M.D., the Company’s Executive Vice President of Research and Development. The awards were granted as an inducement material to each such employee’s entering into employment with Retrophin pursuant to Rule 5635(b)(4) of the NASDAQ Listing Rules. 66 employees were granted inducement awards consisting of stock options to purchase an aggregate of 2,014,500 shares of Retrophin common stock and 200,000 shares of restricted common stock, and Dr. Shih was granted an inducement award consisting of 230,000 shares of restricted common stock. The stock options and restricted common stock generally vest in equal quarterly installments over a period of three years. The stock options are nonstatutory stock options and have an exercise price equal to the fair market value of Retrophin’s common stock on their grant date.
Retrophin is a pharmaceutical company focused on the development, acquisition and commercialization of drugs for the treatment of serious, catastrophic or rare diseases for which there are currently no viable options for patients. The Company’s approved products include Chenodal(R), Thiola(R) and Vecamyl(R), and its pipeline includes compounds for several catastrophic diseases, including focal segmental glomerulosclerosis (FSGS), pantothenate kinase-associated neurodegeneration (PKAN), schizophrenia, infantile spasms, nephrotic syndrome and others. For additional information, please visit www.retrophin.com.
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the research, development and commercialization of pharmaceutical products. Without limiting the foregoing, these statements are often identified by the words “may”, “might”, “believes”, “thinks”, “anticipates”, “plans”, “expects”, “intends” or similar expressions. No forward-looking statement can be guaranteed. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond our control. The Company undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events, or otherwise. Investors are referred to the full discussion of risks and uncertainties as included in the Company’s filings with the Securities and Exchange Commission.
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