{"id":470226,"date":"2021-04-01T17:13:57","date_gmt":"2021-04-01T21:13:57","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470226"},"modified":"2021-04-01T17:13:57","modified_gmt":"2021-04-01T21:13:57","slug":"ocuphire-pharma-inc-reports-inducement-grant-under-nasdaq-listing-rule-5635c4","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ocuphire-pharma-inc-reports-inducement-grant-under-nasdaq-listing-rule-5635c4\/","title":{"rendered":"Ocuphire Pharma, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">FARMINGTON HILLS, Mich., April  01, 2021  (GLOBE NEWSWIRE) &#8212; Ocuphire Pharma, Inc. (Nasdaq: OCUP), today announced that the Compensation Committee of its Board of Directors, which is composed entirely of independent directors, approved an equity award under Ocuphire\u2019s Inducement Plan, as a material inducement to Erik Sims in connection with his employment with the Company as Controller of the Company effective on April 1, 2021. The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.<\/p>\n<p align=\"justify\">In connection with the individual entering into employment with Ocuphire, the individual, who was not previously an employee or director of Ocuphire, received options to purchase an aggregate of 38,000 shares of the Company\u2019s common stock. The option awards have an exercise price of $6.38 per share, the closing price of Ocuphire Pharma\u2019s common stock on April 1, 2021. The options have ten-year terms and vest over a period of four years, with 25% vesting one year after the date of grant and the remaining 75% vesting in 36 approximately equal monthly increments, provided the new hire\u2019s employment is continuing on each such date, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in the new hire\u2019s option agreement.<\/p>\n<p align=\"justify\">\n        <strong>About Ocuphire Pharma<\/strong>\n      <\/p>\n<p align=\"justify\">Ocuphire\u00a0is a publicly traded (NASDAQ: OCUP), clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing therapies for the treatment of several eye disorders.\u00a0Ocuphire\u2019s\u00a0pipeline currently includes two small-molecule product candidates targeting front and back of the eye indications. The company\u2019s lead product candidate,\u00a0Nyxol<sup>\u00ae<\/sup>\u202f(0.75% phentolamine ophthalmic solution)\u00a0Eye Drops, is a once-daily preservative-free eye drop formulation of phentolamine mesylate, a non-selective alpha-1 and alpha-2 adrenergic antagonist designed to reduce pupil size, and is being developed for several indications, including dim light or night vision disturbances (NVD), reversal of pharmacologically-induced mydriasis (RM), and presbyopia, and has been studied in\u00a08\u00a0clinical\u00a0trials\u00a0including the recently completed Phase 3 trial in RM.\u00a0Nyxol\u00a0is\u00a0also\u00a0currently in Phase 3 clinical development for NVD and\u00a0in\u00a0Phase 2 for presbyopia.\u00a0Ocuphire\u2019s\u00a0second product candidate, APX3330, is an oral tablet designed to inhibit angiogenesis and inflammation pathways relevant to retinal and choroidal vascular diseases, such as diabetic retinopathy (DR) and diabetic macular edema (DME),\u00a0and\u00a0has been studied in 11 Phase 1 and 2 trials. APX3330 is entering Phase 2 clinical development for DR\/DME. As part of its strategy,\u00a0Ocuphire\u00a0will continue to explore opportunities to acquire additional ophthalmic assets and to seek strategic partners for late-stage development, regulatory preparation and commercialization of drugs in key global markets.\u00a0Please\u00a0visit\u202f<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=11GGEEGNIjfIkqkXEfNCjPIXdv5PMxW2dDVT_Ucfn6VVV5VJyUU2pKuS42zUK_wxLx6MIFzIvu24fz6AYtaGgqbH3oO5Eh2zF4BEED2WXf4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.clinicaltrials.gov<\/a>\u202fto learn more about\u00a0Ocuphire\u2019s\u00a0completed Phase 2 trials,\u00a0recently\u00a0completed Phase 3 registration\u00a0trial\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LjuezACzGkfqz8NDTJamxogJWpkdGXRgwgqjFV9KeonvB0bB2GGHX5m3YEF1EqlGa7qS67rQHsHs2iRzcL0IKawHdEhnZLxSfA_hh1FRcIJot5zPG1vXdyx0AxrInpWQ\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">(NCT04620213<\/a>),\u00a0ongoing Phase 3 registration trial\u202f(<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0X_r9W1BjYo2H__lGo0NHznu6J84BKwg0pvv6lDwFZcmjhTgQsrwcxd_Qmr1K2oE85C4YapYLNQajaCgg8NbfCutuCKyCoS0Gt4duNQwL8Y=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">NCT04638660<\/a>)\u00a0and\u00a0Phase 2 trial in presbyopia (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0X_r9W1BjYo2H__lGo0NHzKCDpwLYPGjhTsJzt30P8bABcS8MPlACnywJROWjdNaqaqrynRrk7NyOL0Q__AbApXETW81PMOC0-dXsegQAy4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">NCT04675151<\/a>),\u00a0and\u00a0soon to recruit Phase 2 trial in DR\/DME (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0X_r9W1BjYo2H__lGo0NH9RWo03UGvEjB3Q_kbsJi9lYLkR7rxB5pd4z5a9I36VnXaBPKbMABgbNPW-bB9J0AMHm_wfIs97tq48Txmpc66s=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">NCT04692688<\/a>). For more information, please\u00a0visit\u202f<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3SLRMSclAID_vydipGmTzDeVRypf7cqQ0leLXyr7pxeqgqDEEA9Ta-TekVQ4Osw9IQnzwJ3Yuu9R5qt1JkQTLw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.ocuphire.com<\/a>.\u00a0<\/p>\n<p align=\"justify\">\n        <strong>Ocuphire Contacts<\/strong>\n      <\/p>\n<p align=\"justify\">Mina Sooch, President &amp; CEO <br \/>Ocuphire Pharma, Inc. <br \/>ir@ocuphire.com<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3SLRMSclAID_vydipGmTzEMPMfVeZ4PCWsgNR2Yu2NP5kJssCWbsDFdY-j_6v6IcdxMIGVsf8GhYZgQ6p32jgg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.ocuphire.com<\/a><\/p>\n<p align=\"justify\">Corey Davis, Ph.D.<br \/>LifeSci Advisors<br \/>cdavis@lifesciadvisors.com\u00a0<\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDU2NCM0MTAzMjYyIzUwMDA3Mzk4OA==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/71d1db5e-4776-48fa-a098-c6bb37083f1b\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FARMINGTON HILLS, Mich., April 01, 2021 (GLOBE NEWSWIRE) &#8212; Ocuphire Pharma, Inc. (Nasdaq: OCUP), today announced that the Compensation Committee of its Board of Directors, which is composed entirely of independent directors, approved an equity award under Ocuphire\u2019s Inducement Plan, as a material inducement to Erik Sims in connection with his employment with the Company as Controller of the Company effective on April 1, 2021. The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan. In connection with the individual entering into employment with Ocuphire, the individual, who was not previously an employee or director of Ocuphire, received options &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ocuphire-pharma-inc-reports-inducement-grant-under-nasdaq-listing-rule-5635c4\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ocuphire Pharma, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-470226","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ocuphire Pharma, Inc. 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(Nasdaq: OCUP), today announced that the Compensation Committee of its Board of Directors, which is composed entirely of independent directors, approved an equity award under Ocuphire\u2019s Inducement Plan, as a material inducement to Erik Sims in connection with his employment with the Company as Controller of the Company effective on April 1, 2021. The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan. In connection with the individual entering into employment with Ocuphire, the individual, who was not previously an employee or director of Ocuphire, received options &hellip; Continue reading &quot;Ocuphire Pharma, Inc. 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The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan. In connection with the individual entering into employment with Ocuphire, the individual, who was not previously an employee or director of Ocuphire, received options &hellip; Continue reading \"Ocuphire Pharma, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ocuphire-pharma-inc-reports-inducement-grant-under-nasdaq-listing-rule-5635c4\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-01T21:13:57+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDU2NCM0MTAzMjYyIzUwMDA3Mzk4OA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ocuphire-pharma-inc-reports-inducement-grant-under-nasdaq-listing-rule-5635c4\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ocuphire-pharma-inc-reports-inducement-grant-under-nasdaq-listing-rule-5635c4\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Ocuphire Pharma, Inc. 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