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Paratek Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

BOSTON, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK), a commercial-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics, today announced that on October 31, 2019, the Company granted stock options and restricted stock units to three new employees of the Company. These awards were granted pursuant to the Paratek Pharmaceuticals, Inc. 2017 Inducement Plan, as amended, which was approved by the Company's board of directors on June 15, 2017, under Rule 5635(c)(4) of the NASDAQ Listing Rules, for equity grants to employees entering into employment or returning to employment after a bona fide period of non-employment with the Company, as an inducement material to such individuals entering into employment with the Company.
The stock options are to acquire, in the aggregate, 6,300 shares of the Companya??s common stock at a per share exercise price of $3.08, the closing sales price on October 31, 2019, and shall vest over a four-year vesting period, under which 25% of the shares will vest after 12 months of employment, with the remaining shares vesting monthly thereafter over the remaining 36-month period, subject to the employeea??s continuous service. The restricted stock units are to acquire, in the aggregate, 3,000 shares of the Companya??s common stock and shall vest upon the conclusion of a 36-monthAvesting period, under which one hundred percent 100% of the restricted stock units will vest after 36 months of employment, subject to the employeea??s continuous service. The stock options and restricted stock units are subject to the terms and conditions of the Paratek Pharmaceuticals, Inc. 2017 Inducement Plan, as amended, and the terms and conditions of the stock option agreement and restricted stock unit award agreement covering each grant. AboutAParatek Pharmaceuticals, Inc.
Paratek Pharmaceuticals, Inc.Ais a commercial-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics. The companya??s lead commercial product, NUZYRAA (omadacycline), which has launched and is available in the U.S., isAa once-daily oral and intravenous antibiotic for the treatment of adults with community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections. Paratek has entered into a collaboration agreement withAZaiALab for the development and commercialization of omadacycline in the greaterAChinaAregion and retains all remaining global rights.Under a research agreement with theAU.S. Department of Defense, omadacycline also is being studied against pathogenic agents causing infectious diseases of public health and biodefense importance, including plague and anthrax.
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