EMERYVILLE, Calif., Oct. 06, 2017 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc. (Nasdaq:ADMS) today announced that the compensation committee of the company's board of directors granted eleven new employees the option to purchase an aggregate of 78,750 shares of the company's common stock, at a per share exercise price of $23.11, the closing trading price on October 6, 2017, and restricted stock units to acquire 25,625 shares of the company's common stock. The stock option and restricted stock units vest over four years and were granted pursuant to the Adamas Pharmaceuticals, Inc. 2016 Inducement Plan, which was approved by the company's board of
directors in March 2016 under Rule 5653(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.
About Adamas Pharmaceuticals, Inc.
At Adamas, we believe in the power and the promise of medicines derived from a deep understanding of time-dependent biology. Our expertise lies in uncovering and mapping the relationship between disease and drug activity. From there, we strive to create medicines with therapeutic profiles that match the pattern of disease to drive a more significant and durable clinical effect. This understanding of time-dependent biological processes informs our every innovation, targeting advancement in treatment of chronic neurologic disorders. Our portfolio includes: GOCOVRITM (amantadine) extended release capsules (previously ADS-5102), the first and only FDA-approved medicine for the treatment of dyskinesia in patients with Parkinson's disease receiving levodopa-based therapy, with or without
concomitant dopaminergic medications; ADS-5102 in development for the treatment of multiple sclerosis walking impairment; and ADS-4101, a high-dose, modified-release lacosamide in Phase 1 clinical development for the treatment of partial onset seizures in patients with epilepsy. Additionally, Adamas's licensed assets are currently marketed by Allergan under the brand names NAMENDA XR® and NAMZARIC®, and Adamas is eligible to receive royalties on sales of these medicines beginning in June 2018 and May 2020, respectively. For more information, please visit www.adamaspharma.com.
NAMENDA XR® and NAMZARIC
® are trademarks of Merz Pharma GmbH & Co. KGaA.
Director, Corporate Communications & Investor Relations
Adamas Pharmaceuticals, Inc.
Source: Adamas Pharmaceuticals, Inc.
News Provided by Acquire Media