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Carlsbad, CA, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (Nasdaq: PALI) (“Palisade”, “Palisade Bio”, or the “Company”), a biopharmaceutical company focused on developing and advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases, today announced that it had made an equity grant to a new employee under its 2021 Inducement Plan, as amended.
The Company’s Compensation Committee approved the issuance of an option to purchase 5,000 shares of the Company’s common stock to Joerg Heyer, the new Head of Translational Science and Medicine, as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
The option was issued on August 16, 2024, and has an exercise price of $3.94 (the closing price of the Company’s common stock on the date of grant). The option vests in equal proportions on a quarterly basis over three years with vesting being contingent on Mr. Heyer continuing to provide services to the Company through each vesting date.
Palisade Bio is a biopharmaceutical company focused on developing and advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases. The Company believes that by using a targeted approach with its novel therapeutics it will transform the treatment landscape. For more information, please go to www.palisadebio.com.
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Nasdaq Listing Rule 5635(c)(4)
biopharmaceutical company