Kezar Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Kezar Life Sciences, Inc., (Nasdaq: KZR), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today announced that the company’s Board of Directors has granted one employee a nonqualified stock option to purchase 100,000 shares of its common stock with an exercise price of $15.44 per share, which is equal to the closing price of Kezar’s common stock on April 13, 2022, the grant date of the award. This grant was part of an inducement award material to the individual’s employment with Kezar, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option will vest over a four-year period, with 25% of the option vesting on the first anniversary of the employee’s date of hire, and 1/48th of the option vesting monthly thereafter, subject to the employee’s continued employment with Kezar on such vesting dates. The option is subject to the terms and conditions of Kezar’s 2022 Inducement Plan and the stock option agreement covering the grant.
About Kezar Life Sciences
Kezar Life Sciences is a clinical-stage biopharmaceutical company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders. The company is pioneering first-in-class, small-molecule therapies that harness master regulators of cellular function to inhibit multiple drivers of disease via single, powerful targets. Zetomipzomib, its lead development asset, is a selective immunoproteasome inhibitor being evaluated in Phase 2 clinical trials in lupus nephritis, dermatomyositis and polymyositis. KZR-261 is the first anti-cancer clinical candidate from the company’s platform targeting the Sec61 translocon and the protein secretion pathway. An open-label dose-escalation Phase 1 clinical trial of KZR-261 to assess safety, tolerability and preliminary tumor activity in solid tumors is underway. For more information, visit www.kezarlifesciences.com.
Vice President, Investor Relations and External Affairs
Source: Kezar Life Sciences, Inc.
Released April 15, 2022