CAMBRIDGE, Mass.–(BUSINESS WIRE)–Dicerna™
Pharmaceuticals, Inc. (Nasdaq: DRNA) (the “Company” or “Dicerna”), a
leading developer of investigational RNA interference (RNAi)
therapeutics, today announced that the Compensation Committee of the
Company’s Board of Directors approved the grant of inducement stock
options to purchase a total of 282,500 shares of common stock to be
distributed among 10 new employees, with a grant date of April 1, 2019
(the “Inducement Grant”).
The stock options approved under the Inducement Grant were issued
pursuant to Dicerna’s 2016 Inducement Plan and have an exercise price
per share equal to $14.70, the fair market value on the grant date. The
stock options vest over four years, with 25% vesting on the one-year
anniversary of the employees’ first days of employment with the Company
and 1/36 of the remaining shares vesting monthly thereafter, subject to
the new employees’ continued service relationship with the Company on
each such date. The stock options have a 10-year term and are subject to
the terms and conditions of the applicable stock option agreement.
The Company granted the stock options as inducement materials to the new
employees entering into employment with Dicerna Pharmaceuticals, Inc. in
accordance with Nasdaq listing Rule 5635(c)(4).
About Dicerna™ Pharmaceuticals, Inc.
Dicerna™ Pharmaceuticals, Inc., is a biopharmaceutical company focused
on the discovery and development of innovative, subcutaneously delivered
RNAi-based therapeutics for the treatment of diseases involving the
liver, including rare diseases, chronic liver diseases, cardiovascular
diseases and viral infectious diseases. Dicerna is leveraging its
proprietary GalXC™ RNAi technology platform to build a broad pipeline in
these core therapeutic areas, focusing on target genes where connections
between these genes and diseases are well understood and documented.
Dicerna intends to discover, develop and commercialize novel
therapeutics either on its own or in collaboration with pharmaceutical
partners. Dicerna has strategic collaborations with Eli Lilly and
Company, Alexion Pharmaceuticals, Inc. and Boehringer Ingelheim
International GmbH. For more information, please visit www.dicerna.com.
Cautionary Note on Forward-Looking Statements
This press release includes forward-looking statements. Such
forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied in such statements. Examples of forward-looking statements
include, among others, statements we make regarding: (i) the therapeutic
and commercial potential of GalXC™; (ii) research and development plans
related to GalXC; and (iii) the potential of our technology and drug
candidates in our research and development pipeline. The process by
which an early stage platform such as GalXC could potentially lead to an
approved product is long and subject to highly significant risks,
particularly with respect to a preclinical research collaboration.
Applicable risks and uncertainties include those relating to our
preclinical research and other risks identified under the heading “Risk
Factors” included in our most recent Form 10-K filing and in other
future filings with the SEC. The forward-looking statements contained in
this press release reflect Dicerna’s current views with respect to
future events, and Dicerna does not undertake and specifically disclaims
any obligation to update any forward-looking statements.
Head of Corporate Communications