SAN DIEGO--(BUSINESS WIRE)--Ignyta, Inc. (Nasdaq: RXDX), a precision oncology biotechnology company, announced today that it has issued inducement awards to five new non-executive employees.
All of the awards were made on August 15, 2015 under Ignyta’s 2015 Employment Inducement Equity Incentive Award Plan, which was adopted July 17, 2015 and provides for the granting of equity awards to new employees of Ignyta. The inducement awards consist of options to purchase an aggregate of 81,000 shares of Ignyta common stock and have a ten-year term. The exercise price of the options was $13.12, which was the per-share closing price of Ignyta’s common stock on the Nasdaq Capital Market on August 14, 2015, the last trading day prior to the date of grant. The options vest over a four-year period, with 25% of the options vesting on the first anniversary of the date of hire and the remainder vesting in equal monthly installments over the three years thereafter. The awards were approved by the independent compensation committee of Ignyta’s board of directors and were granted as an inducement material to the new employees entering into employment with Ignyta in accordance with Nasdaq Marketplace Rule 5635(c)(4).
About Ignyta, Inc.
Ignyta, Inc., located in San Diego, California, is a precision oncology biotechnology company pursuing an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. The company’s goal with this Rx/Dx approach is to discover, develop and commercialize new drugs that target activated cancer genes and pathways for the customized treatment of cancer, as well as novel chemotherapeutics that can potentially provide additional benefit to cancer patients. It aims to achieve this goal by pairing its product candidates with biomarker-based companion diagnostics that are designed to identify, at the molecular level, the patients who are most likely to benefit from the precisely targeted drugs the company develops. For more information, please visit: www.ignyta.com.