Radius Health Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
WALTHAM, Mass., Nov. 27, 2017 (GLOBE NEWSWIRE) -- Radius Health, Inc. (“Radius” or the “Company”) (Nasdaq:RDUS) today announced that its Board of Directors granted Joseph Kelly, in connection with his appointment as the Company’s Senior Vice President of Sales and Marketing, an option to purchase 60,000 shares of the Company’s common stock with a per share exercise price of $27.80, the closing trading price of the Company’s common stock on the NASDAQ Global Market on the grant date of November 27, 2017. The stock option vests 25% on the first anniversary of the grant date, with the remaining 75% to vest in monthly installments over the three years thereafter, and has a ten-year term. The stock option was granted as an inducement material to Mr. Kelly entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
Radius is a science-driven fully integrated biopharmaceutical company that is committed to developing and commercializing innovative therapeutics in the areas of osteoporosis, oncology and endocrine diseases. Radius’ lead product, TYMLOS™ (abaloparatide) injection, was approved by the U.S. Food and Drug Administration for the treatment of postmenopausal women with osteoporosis at high risk for fracture. Radius’ Marketing Authorisation Application (MAA) for abaloparatide-SC for the treatment of postmenopausal women with osteoporosis is under regulatory review in Europe. The Radius clinical pipeline includes an investigational abaloparatide transdermal patch for potential use in osteoporosis; the investigational drug elacestrant (RAD1901) for potential use in hormone-receptor positive breast cancer, and vasomotor symptoms in postmenopausal women; and the investigational drug RAD140, a non-steroidal, selective androgen receptor modulator (SARM) under investigation for potential use in hormone-receptor positive breast cancer. For more information, please visit www.radiuspharm.com.
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