Connetics Names Stefan C. Weiss, M.D., Senior Medical Director; Reports New Option Grant under NASDAQ Marketplace Rule 4350.PALO ALTO, Calif. -- Connetics Corporation (Nasdaq:CNCT CNCT Connect CNCT Certified Network Computer Technician ), a specialty pharmaceutical company that develops and commercializes dermatology products, announced today that it has named Stefan C. Weiss, M.D., to the position of Senior Medical Director. Dr. Weiss will be assisting with clinical operations and product development activities. Dr. Weiss joins Connetics from Stanford University where he recently completed his residency training in dermatology. Dr. Weiss received his B.A. from Yale University and his M.H.Sc and M.D. from the Duke University School of Medicine The Duke University School of Medicine is part of the Duke University Medical Center in Durham, North Carolina. Curriculum The School of Medicine has a unique curriculum among American medical schools. . During medical school, Dr. Weiss completed a fellowship in Clinical Bioethics bioethics, in philosophy, a branch of ethics concerned with issues surrounding health care and the biological sciences. These issues include the morality of abortion, euthanasia, in vitro fertilization, and organ transplants (see transplantation, medical). at the National Institutes of Health. Dr. Weiss is the author of numerous publications in peer-reviewed journals and he has presented his research internationally. Additionally, the Company's Board of Directors approved an inducement grant to Dr. Weiss of a non-qualified stock option Non-qualified stock options are stock options which do not qualify for the special treatment accorded to incentive stock options. Incentive stock options are only available for employees and other restrictions apply for them. to purchase 20,000 shares of Connetics' common stock. This option award was granted without stockholder approval pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) and with the following material terms: (a) an exercise price of $17.93 which is equal to the fair market value of Connetics' common stock on the grant date (July 11, 2005), (b) a term of 10 years, and (c) a vesting schedule Vesting Schedule Schedule setting forth when, and to what extent, options become exercisable or restricted stock or stock units are no longer subject to forfeiture (for example, 20% per year over five years). providing that the option is exercisable as to 1/8th of the total grant on the six-month anniversary of Dr. Weiss's hire, and 1/48th of the total grant each month thereafter until the grant is fully vested. About Connetics Connetics Corporation is a specialty pharmaceutical company focused on the development and commercialization of innovative therapeutics for the dermatology market. Connetics has branded its proprietary foam drug delivery vehicle VersaFoam(R). The Company's marketed products are OLUX(R) (clobetasol propionate) Foam, 0.05%, Luxiq(R) (betamethasone betamethasone /be·ta·meth·a·sone/ (ba?tah-meth´ah-son) a synthetic glucocorticoid, the most active of the antiinflammatory steroids; used topically as the benzoate, dipropionate, or valerate salts as an antiinflammatory, topically or valerate) Foam, 0.12%, Soriatane(R) (acitretin) capsules and Evoclin(TM) (clindamycin) Foam, 1%. Connetics is developing Velac(R) (a combination of 1% clindamycin and 0.025% tretinoin tretinoin /tret·i·noin/ (tret´i-noin?) the all-trans stereoisomer of retinoic acid, used as a topical keratolytic in the treatment of acne vulgaris and disorders of keratinization and administered orally in the treatment of acute ) Gel, for treating acne, Desilux(TM) (desonide) VersaFoam-EF, 0.05%, a low-potency topical steroid formulated to treat atopic dermatitis, Primolux(TM) (clobetasol propionate) VersaFoam-EF, 0.05%, a super high-potency topical steroid formulation to treat atopic dermatitis and plaque psoriasis and Extina(R), a foam formulation of the antifungal drug ketoconazole ketoconazole /ke·to·co·na·zole/ (ke?to-kon´ah-zol) a derivative of imidazole used as an antifungal agent. ke·to·co·na·zole n. . Connetics' product formulations aim to improve the management of dermatological diseases and provide significant product differentiation. In Connetics' marketed products, these formulations have earned wide acceptance by both physicians and patients due to their clinical effectiveness, high quality and cosmetic elegance. For more information about Connetics and its products, please visit www.connetics.com. Press Release Code: (CNCT-G) |
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