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.
Source: Millendo Therapeutics, Inc.