PRINCETON, N.J.--(BUSINESS WIRE)--UroGen Pharma Ltd. (Nasdaq:URGN) a biopharmaceutical company dedicated to building novel solutions that treat specialty cancers and urologic diseases because patients deserve better options, today announced the grants of inducement restricted stock units (“RSUs”) on June 3, 2020 to eight new employees in connection with their employment with UroGen. These new team members will support the Company’s commercial launch of JelmytoTM (mitomycin) for pyelocalyceal solution, its first approved product.
Up to 47,500 shares of UroGen Pharma’s common stock are issuable upon the vesting and settlement of the RSUs. The RSUs vest over three years, with one third of the underlying shares vesting after one year from the vesting date, and the balance of the underlying shares vesting on a quarterly basis thereafter, subject in each case to the employee’s continued service relationship with UroGen.
The RSUs are subject to the terms and conditions of UroGen’s 2019 Inducement Plan and RSU grant notice and agreement thereunder.
The RSU grants were granted as an inducement material to each employee entering into employment with UroGen Pharma in accordance with Nasdaq listing Rule 5635(c)(4).
About UroGen Pharma Ltd.
UroGen is a biopharmaceutical company dedicated to building novel solutions that treat specialty cancers and urologic diseases because patients deserve better options. UroGen has developed RTGelTM reverse-thermal hydrogel, a proprietary sustained release, hydrogel-based platform technology that has the potential to improve therapeutic profiles of existing drugs. UroGen’s sustained release technology is designed to enable longer exposure of the urinary tract tissue to medications, making local therapy a potentially more effective treatment option. UroGen’s approved product, JelmytoTM (mitomycin) for pyelocalyceal solution, and pipeline treatment UGN-102 (mitomycin) for intravesical solution, are designed to ablate tumors by non-surgical means and to treat several forms of non-muscle invasive urothelial cancer, including low-grade upper tract urothelial cancer and low-grade non-muscle invasive bladder cancer, respectively. UroGen is headquartered in Princeton, NJ with operations in Israel. Visit www.urogen.com to learn more or follow us on Twitter, @UroGenPharma.