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 January 28, 2019, the Compensation Committee of the Board of Directors approved, effective as of January 31, 2019, the grant of inducement stock options to purchase a total of 34,100 shares of the Company’s common stock to three newly-appointed employees of the Company. The option awards have an exercise price of $10.48 per share, the closing price per share of the Company’s common stock on January 31, 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. The Company’s objective is to build a leading
endocrine company that creates distinct and transformative treatments
for a wide range of endocrine diseases 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.
