Optimer Pharmaceuticals (OPTR) says that on March 31, its Board approved the grant of inducement stock options to purchase an aggregate of 258,000 shares of common stock to 7 new employees.
Each stock option has an exercise price per share equal to $11.83, the fair market value on the grant date, and vests over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and 1/48 of the shares vesting monthly thereafter, subject to the new employee's continued service relationship with the company. Each stock option also has a ten year term.
Separately, an FDA advisory committee meeting next week is expected to support the company's lead drug, fidaxomicin, for treatment of C. diff. infection, the most common cause for antimicrobial, drug-associated diarrhea in the U.S.