- Protagonist Therapeutics (PTGX, Financial) grants equity inducement award on April 15, 2025.
- 20,000 stock options offered at an exercise price of $46.95 per share.
- Options vest over four years with a structured schedule.
Protagonist Therapeutics (PTGX), a clinical-stage biopharmaceutical company, has announced the issuance of an equity inducement award to a new employee, effective from April 15, 2025. These options, provided under the Company's Amended and Restated 2018 Inducement Plan, allow the new hire to purchase 20,000 shares of common stock at an exercise price of $46.95, which was the closing price of PTGX stock on the Nasdaq Stock Market on the grant date.
The vesting schedule for these options is designed over a four-year period. Initially, 25% of the options will vest after the first year, while the remaining balance will vest in equal monthly installments over the subsequent three years. This award, approved by the Company's Compensation Committee, serves as a significant incentive to the new employee joining Protagonist Therapeutics, in line with Nasdaq Marketplace Rule 5635(c)(4).
For further details on Protagonist Therapeutics and its projects, including its pipeline drug candidates such as icotrokinra and rusfertide currently in advanced clinical development phases, you are encouraged to visit the Company’s official website.
