SAN DIEGO -- (BUSINESS WIRE) -- Ignyta, Inc. (Nasdaq: RXDX), an oncology precision medicine biotechnology company, announced today that it has issued inducement awards to three new non-executive employees.
The awards were made on March 31, 2014 under Ignyta’s Employment Inducement Incentive Award Plan, which was adopted March 28, 2014 and provides for the granting of equity awards to new employees of Ignyta. The inducement awards consist of options to purchase an aggregate of 135,000 shares of Ignyta common stock. The options have a ten-year term and an exercise price equal to $8.30, the fair market value of Ignyta common stock on the date of grant. The options vest over a four-year period, with 25% of the options vesting on the first anniversary of the date of hire and the remainder vesting in equal monthly installments over the three years thereafter. The awards were approved by Ignyta’s board of directors and were granted as an inducement material to the new employees entering into employment with Ignyta in accordance with Nasdaq Marketplace Rule 5635(c)(4).
About Ignyta, Inc.
Ignyta, Inc., located in San Diego, California, is a biotechnology company developing precision medicine with integrated Rx/Dx solutions for cancer patients. Ignyta’s goal is to discover and develop revolutionary new drugs that target activated genes in cancer cells for the customized treatment of cancer patients. The company’s present focus is on the development of RXDX-101, its proprietary oral tyrosine kinase inhibitor that targets solid tumor indications, and advancing its novel Spark discovery programs that leverage its proprietary cancer genomic and epigenomic knowledge bases. For more information, please visit: www.ignyta.com.