Ocuphire Pharma Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

FARMINGTON HILLS, Mich., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Ocuphire Pharma, Inc. (Nasdaq: OCUP), a clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing small-molecule therapies for the treatment of retinal and refractive eye disorders, today announced that the independent members of its Board of Directors approved equity awards under Ocuphire’s 2021 Inducement Plan, as a material inducement to Ashwath Jayagopal, Ph.D., M.B.A., the Company’s newly appointed Chief Scientific and Development Officer and to Nirav Jhaveri, C.F.A.., M.B.A., the Company’s newly appointed Chief Financial Officer in connection with their employment with the Company effective on February 12, 2024. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.

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