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XenoPort, Inc. : XenoPort Announces New Employment Inducement Award

06/01/2012 | 05:05pm US/Eastern

XenoPort, Inc. (Nasdaq:XNPT) reported today that an equity award was made to a new employee subject to the terms and conditions of the XenoPort 2010 Inducement Award Plan. The employee, Sayuri Ino, was granted restricted stock units representing an aggregate of 500 shares of XenoPort's common stock. The restricted stock units vest in four equal annual installments on anniversaries of the June 1, 2012 grant date. The equity award was approved by the independent compensation committee of XenoPort's board of directors and was granted as an inducement material to the new employee entering into employment with XenoPort in accordance with Nasdaq Market Place Rule 5635(c)(4).

About XenoPort

XenoPort is a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates for the potential treatment of neurological disorders. Horizant® (gabapentin enacarbil) Extended-Release Tablets is XenoPort's first U.S. Food and Drug Administration-approved product. GlaxoSmithKline holds commercialization rights and certain development rights for Horizant in the United States. Regnite® (gabapentin enacarbil) Extended-Release Tablets is approved for the treatment of moderate-to-severe primary restless legs syndrome in Japan. Astellas Pharma Inc. holds all development and commercialization rights for Regnite in Japan and five other Asian countries. XenoPort holds all other world-wide rights and has co-promotion and certain development rights to gabapentin enacarbil in the United States. XenoPort's pipeline of product candidates includes potential treatments for patients with postherpetic neuralgia, spasticity and Parkinson's disease.

To learn more about XenoPort, please visit the company Website at www.XenoPort.com.

Horizant is a registered U.S. trademark of GSK.

XENOPORT is a registered trademark of XenoPort, Inc.

Regnite is a registered trademark of Astellas.


XenoPort, Inc.
Jackie Cossmon, 408-616-7220

© Business Wire 2012
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