WESTLAKE VILLAGE, Calif., Oct. 21, 2014 (GLOBE NEWSWIRE) -- KYTHERA Biopharmaceuticals, Inc. (Nasdaq:KYTH) today announced that on October 17, 2014, the Compensation Committee of the Company's Board of Directors granted three new employees options to purchase an aggregate of 28,500 shares of the Company's common stock. The exercise price of each option was $32.85, the closing trading price on the date of grant. The stock options were granted pursuant to the Company's 2014 Employment Commencement Incentive Plan, which was approved by the Company's Board of Directors in August 2014 under Rule 5653(c)(4) of The Nasdaq Global Select Market for equity grants to induce new employees to enter into employment with the Company.
About KYTHERA Biopharmaceuticals, Inc.
KYTHERA Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel prescription products for the aesthetic medicine market. KYTHERA's product candidate, ATX-101, is currently in late-stage development for the reduction of submental fat, which commonly presents as a double chin, and is a potential first-in-class submental contouring injectable drug. KYTHERA submitted its New Drug Application for ATX-101 in May 2014, which the FDA has determined is sufficiently complete to permit a substantive review. KYTHERA also maintains an active research interest in hair and fat biology, pigmentation modulation and facial contouring.
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Source:KYTHERA Biopharmaceuticals, Inc.