CAMBRIDGE, Mass., March 05, 2025 (GLOBE NEWSWIRE) -- Agios Pharmaceuticals, Inc. (Nasdaq: AGIO), a leader in cellular metabolism and pyruvate kinase (PK) activation pioneering therapies for rare diseases, today announced the grant of inducement equity awards outside of the Company's 2023 Stock Incentive Plan to its newly appointed Chief Corporate Development & Strategy Officer, Krishnan Viswanadhan. The grants were approved by the Board of Directors effective as of March 5, 2025, as inducements material to Mr. Viswanadhan entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement grants consisted of (i) a nonstatutory option to purchase up to 55,374 shares of common stock, (ii) restricted stock units for 24,300 shares of common stock and (iii) performance stock units for 16,200 shares of common stock. The option has an exercise price of $33.95 per share, the closing price per share of the Company's common stock, as reported by Nasdaq on March 5, 2025. The option has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of Mr. Viswanadhan's start date and 2.0833% of the shares underlying the options vesting monthly thereafter, subject to his continued service with the Company through the applicable vesting dates. Each restricted stock unit will entitle Mr. Viswanadhan to receive one share of the Company's common stock for each restricted stock unit that vests. The restricted stock units will vest in equal annual installments on each anniversary of Mr. Viswanadhan's start date, until the third anniversary of such date, subject to his continued service with the Company through the applicable vesting dates. Each performance stock unit represents a contingent right to receive one share of the Company's common stock upon the achievement of specified performance milestones.
About Agios
Agios is the pioneering leader in PK activation and is dedicated to developing and delivering transformative therapies for patients living with rare diseases. In the U.S., Agios markets a first-in-class pyruvate kinase (PK) activator for adults with PK deficiency, the first disease-modifying therapy for this rare, lifelong, debilitating hemolytic anemia. Building on the company's deep scientific expertise in classical hematology and leadership in the field of cellular metabolism and rare hematologic diseases, Agios is advancing a robust clinical pipeline of investigational medicines with programs in alpha- and beta-thalassemia, sickle cell disease, pediatric PK deficiency, myelodysplastic syndromes (MDS)-associated anemia and phenylketonuria (PKU). In addition to its clinical pipeline, Agios is advancing a preclinical TMPRSS6 siRNA as a potential treatment for polycythemia vera. For more information, please visit the company's website at www.agios.com.
Contacts:
Investor Contact
Chris Taylor, VP, Investor Relations and Corporate Communications
Agios Pharmaceuticals
IR@agios.com
Media Contact
Eamonn Nolan, Senior Director, Corporate Communications
Agios Pharmaceuticals
media@agios.com
