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(4) - EconoTimes)
SAN DIEGO, Aug. 14, 2017 -- Retrophin, Inc. (NASDAQ:RTRX) today announced that its Compensation Committee granted inducement awards pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules on July 31, 2017, August 7, 2017 and August 14, 2017 consisting of stock options to purchase an aggregate of 65,000 shares to three new employees. Each stock option has an exercise price per share equal to the closing price of Retrophin's common stock on the date of grant, is a non-qualified stock option, has a 10-year term and will vest over four years, with one-fourth vesting on the one-year anniversary of the grant date and the remaining three-fourths vesting over the following three years in twelve equal quarterly installments.
Each stock option described above is subject to the terms of Retrophin's 2015 Equity Incentive Plan, but was granted outside of the 2015 Equity Incentive Plan, and was granted as an inducement material to each new employee entering into employment with Retrophin in accordance with NASDAQ Listing Rule 5635(c)(4).
About Retrophin
Retrophin is a fully integrated biopharmaceutical company dedicated to delivering life-changing therapies to people living with rare diseases who have few, if any, treatment options. The Company's approach centers on its pipeline featuring late-stage assets targeting rare diseases with significant unmet medical needs, including sparsentan for focal segmental glomerulosclerosis (FSGS), a disorder characterized by progressive scarring of the kidney often leading to end-stage renal disease, and RE-024 for pantothenate kinase-associated neurodegeneration (PKAN), a life-threatening neurological disorder that typically begins in early childhood. Research exploring the potential of early-stage assets in additional rare diseases is also underway. Retrophin's R&D efforts are supported by revenues from the Company's commercial products Thiola®, Cholbam® and Chenodal®.
Contact: Chris Cline, CFA Vice President, Investor Relations & Corporate Communications 760-260-8600 [email protected]
