SANTA CLARA, Calif. -- (Business Wire)
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).
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.
Jackie Cossmon, 408-616-7220
Source: XenoPort, Inc.
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