IRVINE, Calif., July 11. 10, 2022 (GLOBE NEWSWIRE) — Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM), a clinical-stage pharmaceutical company focused on developing and commercializing therapies for patients with rare mitochondrial genetic disorders, today announced that the Compensation Committee of Reneo’s Board of Directors (the Compensation Committee) granted incentive awards to a new non-executive employee, consisting of an option to purchase an aggregate of 75,000 common shares, plus an award of performance-based restricted share units covering 25,000 common shares. The Compensation Committee approved the awards as material incentives for these new non-executive employees entering Reneo pursuant to Nasdaq listing rule 5635(c)(4).
About Reneo Pharmaceuticals
Reneo is a clinical-stage pharmaceutical company focused on developing and commercializing therapies for patients with rare mitochondrial genetic diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Our lead product candidate, REN001, is a potent and selective peroxisome proliferator-activated receptor delta (PPARδ) agonist. REN001 has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation, and may increase production of new mitochondria.
contacts:
Joyce Allaire
General director
LifeSci Advisors, LLC
jallaire@lifesciadvisors.com
Gregory J. Flesher
Chief executive officer
Reneo Pharmaceuticals, Inc.
investors@reneopharma.com
