XenoPort Announces New Employment Inducement Award
SANTA CLARA, Calif. -- November 02, 2012
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, Jyothi Tammineni, was granted restricted
stock units representing an aggregate of 750 shares of XenoPort's common
stock. The restricted stock units vest in four equal annual installments on
anniversaries of the November 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
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 approved in the United States for the
treatment of moderate-to-severe primary restless legs syndrome (RLS) in adults
and for the management of postherpetic neuralgia in adults. 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 RLS 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 spasticity, Parkinson's disease and
relapsing-remitting multiple sclerosis.
To learn more about XenoPort, please visit the Web site at www.XenoPort.com.
XENOPORT and Regnite are registered trademarks of XenoPort, Inc.
Horizant is a registered U.S. trademark of GlaxoSmithKline.
Jackie Cossmon, 408-616-7220
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