You are here

Alder BioPharmaceuticals® Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

BOTHELL, Wash., June 15, 2018 (GLOBE NEWSWIRE) -- Alder BioPharmaceuticals, Inc. (Nasdaq:ALDR), a biopharmaceutical company focused on developing novel therapeutic antibodies for the treatment of migraine, today reported the grant of inducement awards to Robert (“Bob”) Azelby, effective as of June 13, 2018.

The compensation committee of Alder's board of directors granted Mr. Azelby (a) an option to purchase 1,000,000 shares of common stock (the “Time-Based Option”) and (b) an option to purchase 150,000 shares of common stock (the “Performance-Based Option”), each pursuant to Alder’s 2018 Inducement Award Plan. The Time-Based Option will vest with respect to 25% of the shares underlying the Time-Based Option one year after Mr. Azelby’s employment start date and the remaining 75% of the shares underlying the Time-Based Option will vest in equal monthly installments over the 36 month period following the one year anniversary of Mr. Azelby’s employment start date, subject to his continued service to Alder through each relevant vesting date. The Performance-Based Option will vest based upon acceptance by the U.S. Food and Drug Administration (or any successor entity thereto) (the “FDA”) of the first Biologics License Application submitted to the FDA by Alder or an affiliate seeking approval for the commercial sale and marketing of eptinezumab in the United States.  The stock options have a ten-year term and an exercise price of $16.20, equal to the per share closing price of Alder's common stock as reported by Nasdaq on June 13, 2018.

The stock options were granted as an inducement material to Mr. Azelby entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

About Alder BioPharmaceuticals, Inc.
Alder BioPharmaceuticals is a clinical-stage biopharmaceutical company focused on transforming the migraine treatment paradigm through the discovery, development and commercialization of novel therapeutic antibodies. Alder’s lead product candidate, eptinezumab, is a pivotal-stage monoclonal antibody (mAb) that inhibits calcitonin gene-related peptide (CGRP). Eptinezumab is currently in late-stage clinical development and, if approved, will be the first-to-market infusion therapy for migraine prevention. Alder is also developing ALD1910, a preclinical mAb that inhibits pituitary adenylate cyclase-activating polypeptide-38 (PACAP-38) for migraine prevention. For more information, visit

Investor Relations Contact:                                         
Ashwin Agarwal                
Vice President, Corporate Strategy                                                                                                          
Alder Biopharmaceuticals, Inc.

Michael Schaffzin
Stern Investor Relations, Inc.

Media Contact:                                                                 
Ashley Cadle

Friday, June 15, 2018 - 17:00

More Headlines

Agency says products for sexual enhancement, weight loss, and bodybuilding have hidden drugs and chemicals.
A meta-analysis that included 18 million participants found no protection from heart disease or stroke.
There is a small difference between them and biosimilars that physicians, patients, and insurers should be aware of.
It will nearly quadruple within the next five years, according to a new report, though concerns about how they’re manufactured remain.
Some of that can be chalked up to the differences in cost of living from place to place, but not all.
Health plans expected to continue pushing for value-based payment arrangements.
One of the proposed changes makes remote patient monitoring an allowable cost.
European researchers looked at arthritis’ patients reactions when being switched from etanercept or nfliximab.
Puts down $700 million to buy nearly 50% of Samsung.