ANN ARBOR, Mich.--(BUSINESS WIRE)--Millendo Therapeutics, Inc. (“Millendo” or the “Company”) (Nasdaq: MLND), a clinical-stage biopharmaceutical company developing novel treatments for orphan endocrine diseases, announced today that on April 23, 2019, the Compensation Committee of the Board of Directors approved, effective as of April 23, 2019, the grant of inducement stock options to purchase a total of 65,000 shares of the Company’s common stock to three newly-appointed employees of the Company. The option awards have an exercise price of $15.96 per share, the closing price per share of the Company’s common stock on April 23, 2019. The options vest over four years, with 25 percent of the shares vesting on the first anniversary of each grantee’s respective hiring date, and the remaining shares vesting ratably over the subsequent 36 months, subject to each grantee’s continued service with the Company. The stock options have a ten-year term and are subject to the terms and conditions of the stock option agreements pursuant to which each option was granted.
The options were granted as inducements material to the recipients entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
About Millendo Therapeutics, Inc.
Millendo Therapeutics is a
late-stage biopharmaceutical company focused on developing novel
treatments for orphan endocrine diseases where current therapies do not
exist or are insufficient. As a leading orphan endocrine company,
Millendo creates distinct and transformative treatments where there is a
significant unmet medical need. The company is currently advancing
livoletide for the treatment of Prader-Willi syndrome and nevanimibe for
the treatment of classic congenital adrenal hyperplasia and endogenous
Cushing’s syndrome. For more information, please visit www.millendo.com.
