PRINCETON, N.J., September 08, 2023--(BUSINESS WIRE)--UroGen Pharma Ltd. (Nasdaq: URGN), a biotech company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers, today announced the grants of inducement restricted stock units ("RSUs") to 11 new employees, as well as options ("Options") to one of the new employees, in connection with their employment with UroGen. These new team members will support the ongoing commercial launch of Jelmyto® (mitomycin) for pyelocalyceal solution, UroGen’s first approved product, and the continued development of the Company’s pipeline.
Up to 37,300 ordinary shares of UroGen are issuable upon the vesting and settlement of the RSUs and up to 30,000 ordinary shares are issuable upon the vesting and exercise of the Options. The Options have an exercise price of $17.94 per share, which was the closing price of the ordinary shares on September 6, 2023, the date of grant, as reported on The Nasdaq Stock Market. The RSUs and Options will vest equally over three years, with one-third of the underlying shares vesting each year on the anniversary of the vesting date, subject in each case to the employee’s continued service relationship with UroGen.
The RSUs and Options are subject to the terms and conditions of UroGen’s 2019 Inducement Plan and RSU and Option grant notice and agreements thereunder. The RSUs and Options were granted as an inducement material to each employee entering into employment with UroGen in accordance with Nasdaq listing Rule 5635(c)(4).
About UroGen Pharma Ltd.
UroGen is a biotech company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers because patients deserve better options. UroGen has developed RTGel® reverse-thermal hydrogel, a proprietary sustained release, hydrogel-based platform technology that has the potential to improve therapeutic profiles of existing drugs. UroGen’s sustained release technology is designed to enable longer exposure of the urinary tract tissue to medications, making local therapy a potentially more effective treatment option. UroGen’s first commercial product Jelmyto® (mitomycin) for pyelocalyceal solution, and investigational treatment UGN-102 (mitomycin) for intravesical solution for patients with low-grade non-muscle invasive bladder cancer, are designed to ablate tumors by non-surgical means. UroGen is headquartered in Princeton, New Jersey with operations in Israel. Visit www.urogen.com to learn more or follow us on Twitter, @UroGenPharma.
Jelmyto®, RTGel® and UroGen® are registered trademarks of UroGen Pharma Ltd.
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