Ignyta Reports Granting Of Inducement Awards
Published: Sep 18, 2017
SAN DIEGO--(BUSINESS WIRE)--Ignyta, Inc. (Nasdaq: RXDX), a biotechnology company focused on precision medicine in oncology, announced today that it has issued an inducement award to one new non-executive employee.
The award was made on September 15, 2017, under Ignyta’s 2017 Employment Inducement Equity Incentive Award Plan, which was adopted August 17, 2017, and provides for the granting of equity awards to new employees of Ignyta. The inducement award was not individually negotiated and consists of an option to purchase an aggregate of 8,400 shares of Ignyta common stock and has a ten-year term. The exercise price of the option was $11.65, which was the per-share closing price of Ignyta’s common stock on the Nasdaq Capital Market on September 15, 2017. The option vests over a four-year period, with 25% vesting on the first anniversary of the date of hire and the remainder vesting in equal monthly installments over the three years thereafter. The award was approved by the independent compensation committee of Ignyta’s board of directors and was granted as an inducement material to the new employee entering into employment with Ignyta in accordance with Nasdaq Marketplace Rule 5635(c)(4).
About Ignyta, Inc.
Blazing a New Future for Patients with Cancer™
At Ignyta, we work tirelessly on behalf of patients with cancer to offer potentially life-saving, precisely targeted therapeutics (Rx) guided by diagnostic (Dx) tests. Our integrated Rx/Dx strategy allows us to enter uncharted territory, illuminating the molecular drivers of cancer and quickly advancing treatments to address them. This approach embraces even those patients with rare cancers, who have the highest unmet need and who may otherwise not have access to effective treatment options. With our pipeline of potentially first-in-class or best-in-class precision medicines, we are pursuing the ultimate goal of not just shrinking tumors, but eradicating cancer relapse and recurrence in precisely defined patient populations.
For more information, please visit: www.ignyta.com.
Jacob Chacko, M.D.