CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 10, 2016--
Please replace the release dated February 2, 2016 with the following
corrected version due to multiple revisions.
The corrected release reads:
SAREPTA THERAPEUTICS ANNOUNCES INDUCEMENT GRANTS UNDER NASDAQ LISTING
RULE 5635(C)(4)
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a developer of innovative
RNA-targeted therapeutics, issued a Press Release on Feb. 2, 2016
announcing that it granted equity awards on January 29, 2016, that were
previously approved by the Compensation Committee of its Board of
Directors under Sarepta’s 2014 Employment Commencement Incentive Plan,
as a material inducement to employment to six individuals hired by
Sarepta in December 2015. The equity awards were approved in accordance
with NASDAQ Listing Rule 5635(c)(4).
Due to a clerical error, the Feb. 2, 2016 press release incorrectly
stated the number of individuals hired and the month of hire. The press
release should have stated that the inducement grants were for three new
hires in the month of January 2016.
The employees received, in the aggregate, options to purchase 5,450
shares of Sarepta's common stock. The options have an exercise price of
$11.88 per share, which is equal to the closing price of Sarepta's
common stock on January 29, 2016. One-fourth of the shares underlying
each employee’s option will vest on the one year anniversary of his or
her date of hire and thereafter 1/48th of the shares underlying each
employee’s option will vest monthly, such that the shares underlying the
option granted to each employee will be fully vested on the fourth
anniversary of his or her date of hire, in each case, subject to each
such employee’s continued employment with Sarepta on such vesting dates.
About Sarepta Therapeutics
Sarepta Therapeutics is a biopharmaceutical company focused on the
discovery and development of unique RNA-targeted therapeutics for the
treatment of rare, infectious and other diseases. The Company is
primarily focused on rapidly advancing the development of its
potentially disease-modifying Duchenne muscular dystrophy (DMD) drug
candidates, including its lead DMD product candidate, eteplirsen,
designed to skip exon 51. Sarepta is also developing therapeutics for
the treatment infectious diseases, such as drug-resistant bacteria and
other rare human diseases. For more information, please visit us at www.sarepta.com.
Internet Posting of Information
We routinely post information that may be important to investors in
the 'For Investors' section of our website at www.sarepta.com.
We encourage investors and potential investors to consult our website
regularly for important information about us.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160202006592/en/
Source: Sarepta Therapeutics, Inc.
Sarepta Therapeutics, Inc.
Media and Investors:
Ian Estepan,
617-274-4052
iestepan@sarepta.com
or
W2O
Group
Ryan Flinn, 415-946-1059
Mobile: 510-207-7616
rflinn@w2ogroup.com
