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).
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.
Jackie Cossmon, 408-616-7220
© Business Wire 2012