Histogen Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
SAN DIEGO, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Histogen Inc. (NASDAQ: HSTO), a clinical-stage therapeutics company focused on developing its pan-caspase and caspase selective inhibitors as treatments for infectious and inflammatory diseases and has a pipeline of restorative therapeutics for orthopedic indications, today announced the Board of Directors, upon the recommendation of the Company’s Compensation Committee granted Alfred J. Spada, the company’s recently appointed Executive Vice President and Chief Scientific Officer, a nonqualified stock option to purchase 106,793 shares of Histogen Inc. common stock with an exercise price of $1.04 based on the closing price on February 23, 2023, the grant date of the award. This grant was made as an inducement material to Dr. Spada’s acceptance of employment with Histogen and was approved by the Compensation Committee of Histogen’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4).
The non-qualified stock option will vest over a four-year period, with 25% of the options vesting on the first anniversary of the employees’ date of hire, and 1/48th of the options vesting monthly thereafter, subject to the employees’ continued employment with Histogen on such vesting dates and has a term of ten years.
Histogen Inc. is a clinical-stage therapeutics company focused on developing potential first-in-class clinical and preclinical small molecule pan-caspase and caspase selective inhibitors focused on treatments for infectious and inflammatory diseases and has a pipeline of restorative therapeutics that ignite the body’s natural process to repair and maintain healthy biological function. Under our small molecule pipeline, our product candidates include emricasan, CTS-2090 and CTS-2096. Currently, we are evaluating the use of emricasan for bacterial skin infections including those related to MRSA, as well as other infectious diseases. We also have preclinical product candidates, CTS-2090 and CTS-2096, novel, potent, orally bioavailable, and highly selective small molecule inhibitors of caspase-1 designed for the treatment of certain inflammatory diseases. Within our biologics technology platform, our Human Multipotent Cell Conditioned Media, or CCM and our Human Extracellular Matrix, or hECM are available for partnering or licensing. For more information, please visit www.histogen.com.
Susan A. Knudson
Executive Vice President & CFO