Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) ended Friday session in green amid volatile trading. The shares closed up +0.72 points or 6.58% at $11.66 with 1.69 million shares getting traded. Post opening the session at $10.80, the shares hit an intraday low of $10.80 and an intraday high of $11.83 and the price vacillated in this range throughout the day. The company has a market cap of $425.61 million and the numbers of outstanding shares have been calculated to be 34.25 million shares.
PTC Therapeutics, Inc. (PTCT) on Sept. 12, 2016 announced that on September 8, 2016 it approved non-statutory stock options to purchase an aggregate of 22,900 shares of its common stock to eleven new employees. The awards were made pursuant to the NASDAQ inducement grant exception as a component of our new hires’ employment compensation.
The inducement grants were approved by PTC’s Compensation Committee on September 8, 2016 and are being made as an inducement material to each employee’s acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
Ten of the stock option awards have an exercise price of $8.20 per share, the closing price of PTC’s common stock on September 8, 2016, the date of the grant. The remaining stock option award will have an exercise price equal to the closing price of PTC’s common stock on the applicable employee’s new hire date, or the first trading day thereafter, which will be the date of the grant. The stock options each have a 10-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s new hire date and an additional 6.25% of the original number of shares vesting at the end of each subsequent three-month period thereafter, subject to the employee’s continued service with the Company through the applicable vesting dates.
Shares of Perrigo Company plc Ordinary Shares (NYSE:PRGO) ended Friday session in green amid volatile trading. The shares closed up +0.28 points or 0.29% at $97.40 with 1.66 million shares getting traded. Post opening the session at $96.97, the shares hit an intraday low of $96.85 and an intraday high of $99.14 and the price vacillated in this range throughout the day. The company has a market cap of $13.92 billion and the numbers of outstanding shares have been calculated to be 143.28 million shares.
Perrigo Company plc Ordinary Shares (PRGO) on Sept. 1, 2016 announced it has received tentative approval from the U.S. Food and Drug Administration for the generic version of Epiduo® Gel (adapalene and benzoyl peroxide 0.1%/2.5%).
Epiduo® Gel (adapalene and benzoyl peroxide 0.1%/2.5%) is indicated for the treatment of acne vulgaris in patients 12 years of age and older. Annual sales for the 12 months ending July 2016 were $379 million.
Perrigo’s CEO John T. Hendrickson stated, “This tentative approval is another example of Perrigo’s ongoing commitment to developing high quality value alternatives in important treatment categories. The Rx team continues to leverage Perrigo’s development capabilities in order to deliver Quality Affordable Healthcare Products® to our customers and consumers around the world.”