WALTHAM, Mass., April 12, 2022 /PRNewswire/ — Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company established with a mission to find out, create and commercialize impressive to start with-in-course medicines that satisfy major unmet medical requirements, these days introduced that on April 5, 2022, the payment committee of the firm’s board of administrators granted five new non-govt staff members alternatives to purchase an aggregate of 68,797 shares of the company’s popular inventory, and an mixture of 33,450 Restricted Stock Units (RSUs). Every single inventory option has an exercise rate for every share equivalent to $1.11 for every share, which was the closing trading selling price of the company’s popular stock on the date of grant. The inventory options and RSUs ended up granted as inducements content to each and every employee’s conclusion to enter into employment with Ardelyx, in accordance with Nasdaq Listing Rule 5635(c)(4).
Just about every stock option vests over 4 many years, with 25% of the shares vesting on the 1st anniversary of the employee’s to start with day of work, and the remaining 75% of shares vesting regular thereafter. Each RSU vests around four yrs, with 25% vesting on the initial enterprise designated quarterly RSU vest date pursuing the to start with anniversary of the employee’s 1st day of employment, and the remaining 75% of shares vesting quarterly thereafter. Every single inventory alternative has a 10-yr phrase, and each individual alternative and RSU is issue to the phrases and problems of the company’s 2016 Work Commencement Incentive System and the award agreement masking the grant.
About Ardelyx, Inc.
Ardelyx was launched with a mission to explore, establish and commercialize progressive 1st-in-class medications that meet up with significant unmet health-related requires. Ardelyx’s initially accepted product or service, IBSRELA® (tenapanor) is offered in the United States. Ardelyx is building XPHOZAH® (tenapanor), a novel product or service prospect to command serum phosphorus in adult people with CKD on dialysis, which has finished three effective Period 3 trials. Ardelyx is also advancing RDX013, a potassium secretagogue, for the potential remedy of elevated serum potassium, or hyperkalemia, a trouble amongst certain patients with kidney and/or heart sickness and has an early-stage method in metabolic acidosis, a critical electrolyte ailment in patients with CKD. Ardelyx has founded agreements with Kyowa Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada for the growth and commercialization of tenapanor in their respective territories.
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Source Ardelyx
