PHILADELPHIA, Oct. 14, 2022 (GLOBE NEWSWIRE) — Passage Bio, Inc. (Nasdaq: PASG), a clinical-stage genetic medicines firm centered on growing transformative therapies for central nervous system (CNS) issues, at the moment introduced it has granted inducement awards to its newly appointed chief government officer, William Chou, M.D.
As a part of Dr. Chou’s preliminary fairness grant, Passage Bio granted choices to buy 665,500 shares of widespread inventory to Dr. Chou as materials inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4). The inventory choices have an train value of $1.32 per share, which is the same as the closing value of Passage Bio’s widespread inventory on October 10, 2022, the grant date of the choices.
The shares topic to the Inducement Options will vest over 4 years, with 25 p.c of the shares vesting on the one-year anniversary of the relevant grant date, and the rest vesting in 36 equal month-to-month installments thereafter, topic to every worker’s continued employment. The inventory choices have a 10-year time period and are topic to the phrases and circumstances of the inventory choice settlement.
About Passage Bio
Passage Bio (Nasdaq: PASG) is a clinical-stage genetic medicines firm on a mission to offer life-transforming therapies for sufferers with CNS illnesses with restricted or no authorised therapy choices. Our portfolio spans pediatric and grownup CNS indications, and we’re presently advancing three medical applications in GM1 gangliosidosis, Krabbe illness and frontotemporal dementia with a number of extra applications in preclinical growth. Based in Philadelphia, PA, our firm has established a strategic collaboration and licensing settlement with the famend University of Pennsylvania’s Gene Therapy Program to conduct our discovery and IND-enabling preclinical work. Through this collaboration, we have now enhanced entry to a broad portfolio of gene remedy candidates and future gene remedy improvements that we then pair with our deep medical, regulatory, manufacturing and industrial experience to quickly advance our strong pipeline of optimized gene therapies. As we work with pace and tenacity, we’re at all times aware of sufferers who could possibly profit from our therapies. More info is out there at www.passagebio.com.
For additional info, please contact:
Passage Bio Investors:
Stuart Henderson
Passage Bio
267-866-0114
[email protected]
Passage Bio Media:
Mike Beyer
Sam Brown Inc. Healthcare Communications
312-961-2502
[email protected]
