EMERYVILLE, Calif., July 10, 2017 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc. (Nasdaq:ADMS) today reported the grant of inducement awards to its new Chief Financial Officer, Alfred G. Merriweather. The compensation committee of the company’s board of directors granted Mr. Merriweather a stock option to purchase 112,500 shares of the company’s common stock, at a per share exercise price of $16.98, the closing trading price on July 10, 2017, and restricted stock units to acquire 18,750 shares of the company’s common stock. The stock option and restricted stock units vest over four years and were granted pursuant to the Adamas Pharmaceuticals, Inc. 2016 Inducement Plan, which was approved by the company's board of directors in March 2016 under Rule 5653(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.
About Adamas Pharmaceuticals, Inc.
Adamas develops new medicines to improve the daily lives of those affected by chronic neurologic disorders, including Parkinson’s disease, multiple sclerosis, epilepsy, and Alzheimer’s disease. Adamas has pioneered a platform to develop medicines for chronic neurologic disorders based on an understanding of the time-dependent biologic processes responsible for disease activity and drug response. The company’s most advanced product candidate, ADS-5102, is a high-dose amantadine, taken once-daily at bedtime, in development for the treatment of levodopa-induced dyskinesia in people with Parkinson’s disease and for the treatment of walking impairment in people with multiple sclerosis. A New Drug Application supporting ADS-5102 for the treatment of levodopa-induced dyskinesia in people with Parkinson’s disease is under review by the FDA with a PDUFA date of August 24, 2017. Adamas is exploring other indications for further development of ADS-5102. Adamas is also investigating ADS-4101 for the treatment of partial onset seizures in patients with epilepsy. Additionally, Adamas’ licensed assets, are currently marketed by Allergan under the brand names NAMENDA XR® and NAMZARIC®, and Adamas is eligible to receive royalties on sales of these medicines beginning in June 2018 and May 2020, respectively. For more information, please visit www.adamaspharma.com.
NAMENDA XR® and NAMZARIC® are trademarks of Merz Pharma GmbH & Co. KGaA.