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XenoPort Announces New Employment Inducement Award

  XenoPort Announces New Employment Inducement Award

Business Wire

SANTA CLARA, Calif. -- December 07, 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, Richard Galvez, was granted restricted
stock units representing an aggregate of 1,000 shares of XenoPort's common
stock. The restricted stock units vest in four equal annual installments on
anniversaries of the December 3, 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).

About XenoPort

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 for Horizant in the United States during a
transition period ending on April 30, 2013, following which XenoPort will be
responsible for the further development, manufacturing and commercialization
of Horizant. Regnite^® (gabapentin enacarbil) Extended-Release Tablets is
approved and is being marketed 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 to gabapentin enacarbil. 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 Website at www.XenoPort.com.

XENOPORT, Horizant and Regnite are registered trademarks of XenoPort, Inc.

XNPT2G

Contact:

XenoPort, Inc.
Jackie Cossmon, 408-616-7220
ir@XenoPort.com
 
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