SAN DIEGO, Oct. 3, 2011 /PRNewswire/ -- Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR) announced today that on September 30, 2011, the Compensation Committee of its Board of Directors approved the grant of inducement stock options to purchase an aggregate of 133,000 shares of common stock to 7 new employees.
Each stock option has an exercise price per share equal to $13.84, the fair market value on the grant date, and vests over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and 1/48 of the shares vesting monthly thereafter, subject to the new employee's continued service relationship with the Company. Each stock option also has a ten year term and is subject to the terms and conditions of the Company's 2006 Equity Incentive Plan and the stock option agreement pursuant to which the option was granted.
The stock options were granted as inducements material to the new employees entering into employment with Optimer in accordance with NASDAQ Listing Rule 5635(c)(4).
About Optimer Pharmaceuticals
Optimer Pharmaceuticals, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing innovative hospital specialty products that have a positive impact on society. Optimer developed and is commercializing DIFICID™ (fidaxomicin) tablets, an FDA-approved antibacterial drug for the treatment of adult patients 18 years of age and older with Clostridium difficile-associated diarrhea (CDAD). Optimer's clinical pipeline includes Pruvel™, a product in the fluoroquinolone class of antibiotics that has completed Phase 3 trials as a treatment for infectious diarrhea. Additional information can be found at http://www.optimerpharma.com.
Contacts Optimer Pharmaceuticals, Inc. David Walsey, VP of Investor Relations and Corporate Communications 858-909-0736
Canale Communications Jason I. Spark, Senior Vice President 619-849-6005
SOURCE Optimer Pharmaceuticals, Inc.