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BOSTON, Dec. 29, 2017 (GLOBE NEWSWIRE) -- Albireo Pharma, Inc. (Nasdaq:ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, today announced the grant to two employees of inducement stock options exercisable for an aggregate of 37,000 shares of Albireo’s common stock. The stock options are exercisable at a price of $26.12 per share, the closing price of Albireo’s common stock on December 28, 2017, the grant date, and were granted as inducements material to each employee’s acceptance of employment with Albireo in accordance with Nasdaq Listing Rule 5635(c)(4).
Each stock option has a 10-year term and vests over a four-year period, subject to the employee’s continued service with Albireo through the applicable vesting dates. The vesting schedule for each stock option is 25 percent on the one-year anniversary of the employee’s start date with Albireo and 75 percent in equal installments on the last day of the 12 consecutive quarters beginning with December 31, 2018. The stock options are subject to the terms and conditions of Albireo’s 2017 Inducement Equity Incentive Plan.
Albireo Pharma is a clinical-stage biopharmaceutical company focused through its operating subsidiary on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo's clinical pipeline includes a Phase 3 product candidate, a Phase 2 product candidate and a product candidate for which an application for regulatory approval has been submitted in Japan. Albireo was spun out from AstraZeneca in 2008.
Albireo Pharma is located in Boston, Massachusetts, and its key operating subsidiary is located in Gothenburg, Sweden. For more information on Albireo, please visit www.albireopharma.com.
LifeSci Advisors, LLC.
Source: Albireo Pharma, Inc.