A.P. Pharma Announces Stock Option Grant

Business Wire,  July 9, 2008  

• E-mail
• Print
• Link

REDWOOD CITY, Calif. -- A.P. Pharma, Inc. (NASDAQ:APPA), a specialty pharmaceuticals company, announced today it has made a stock option grant to Ronald J. Prentki, who joined the company on July 7, 2008 as President and Chief Executive Officer, for 1,400,000 shares. The options have a ten year life, vest on a four year schedule, and have an exercise price of $1.19 per share, the closing price of the company's common stock on the date of the grant.

The options were granted under A.P. Pharma's 2000 Non-Qualified Stock Plan, under which awards are limited to grants as an inducement to new employees to join the company. In accordance with NASDAQ rules, these awards were made under a stock incentive plan that has not received stockholder approval, and such rules require a public announcement of equity awards made under this type of plan.

About A.P. Pharma

A.P. Pharma is a specialty pharmaceutical company focused on the development of ethical (prescription) pharmaceuticals utilizing its proprietary polymer-based drug delivery systems. The company's primary focus is the development and commercialization of its bioerodible injectable and implantable systems under the trade name Biochronomer[TM]. Initial target areas of application for the company's drug delivery technology include anti-nausea, pain management, anti-inflammation and DNA/RNAI applications. For further information visit the company's web site at www.appharma.com.

COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning