FREMONT, Calif., November 29, 2021 (GLOBE NEWSWIRE) – Pharmaceutical company Zosano (NASDAQ: ZSAN), a clinical-stage biopharmaceutical company, today announced that the board of directors has granted a stock option to purchase 220,000 common shares of Zosano to a new employee at incentive title.
The stock option has an exercise price of $ 0.59 per share, which corresponds to the closing price of the common shares of Zosano on November 29, 2021. 25% of the shares underlying the option will vest on November 29, 2022 and 1 / 48th of the total shares will vest monthly thereafter, subject to continuous service.
The price has been approved under the Nasdaq listing rule 5635 (c) (4).
About Zosano Pharma
Zosano Pharma Corporation is a clinical-stage biopharmaceutical company focused on developing products where rapid delivery of approved molecules with established safety and efficacy profiles can deliver substantial benefits to patients, in markets where patients remain underserved by existing therapies. The Company’s transdermal microneedle system technology consists of titanium drug coated microneedles designed to enable rapid systemic delivery of therapeutics to patients. Zosano’s lead product candidate is M207, which is a proprietary formulation of zolmitriptan designed to be delivered through its transdermal microneedle system technology, as an acute treatment for migraine. Learn more at www.zosanopharma.com.