Protara Therapeutics, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
NEW YORK, June 24, 2024 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (NASDAQ:TARA), a clinical stage company developing transformative therapies for the treatment of cancer and rare diseases, today announced the grant of inducement non-qualified stock options to purchase an aggregate of 118,400 shares of common stock to Lisa Schlesinger, Protara's newly appointed Vice President, Head of New Product Development and Market Access.
Each stock option has an exercise price per share equal to $2.23 per share, Protara's closing trading price on June 24, 2024, the grant date, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the grant date and 1/36th of the underlying shares vesting monthly thereafter over 36 months subject to Ms. Schlesinger's continued service relationship with Protara through the applicable vesting dates.
The independent members of Protara's Board of Directors approved the award as an inducement material to Ms. Schlesinger's employment in accordance with NASDAQ Listing Rule 5635(c)(4).
About Protara Therapeutics, Inc.
Protara is a clinical-stage biotechnology company committed to advancing transformative therapies for people with cancer and rare diseases. Protara's portfolio includes its lead candidate, TARA-002, an investigational cell-based therapy in development for the treatment of non-muscle invasive bladder cancer (NMIBC) and lymphatic malformations (LMs). The Company is evaluating TARA-002 in an ongoing Phase 2 trial in NMIBC patients with carcinoma in situ (CIS) who are unresponsive or naïve to treatment with Bacillus Calmette-Guérin (BCG), as well as a Phase 2 trial in pediatric patients with LMs. Additionally, Protara is developing IV Choline Chloride, an investigational phospholipid substrate replacement for patients on parenteral nutrition who are otherwise unable to meet their choline needs via oral or enteral routes. For more information, visit www.protaratx.com.
Company Contact:
Justine O'Malley
Protara Therapeutics
[email protected]
646-817-2836
