XenoPort Announces New Employment Inducement Awards

SANTA CLARA, Calif.--(BUSINESS WIRE)-- XenoPort, Inc. (Nasdaq: XNPT) reported today that equity awards were made to three new employees subject to the terms and conditions of the XenoPort 2010 Inducement Award Plan. The employees were granted restricted stock units representing an aggregate of 950 shares of XenoPort’s common stock. The restricted stock units vest in four equal annual installments on anniversaries of the February 1, 2011 grant date. The equity awards were approved by the independent compensation committee of XenoPort’s board of directors and were granted as an inducement material to the new employees entering into employment with XenoPort in accordance with Nasdaq Market Place Rule 5635(c)(4).

About XenoPort

XenoPort, Inc. is a biopharmaceutical company focused on developing a portfolio of internally discovered product candidates that utilize the body’s natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs. XenoPort is developing its lead product candidate in collaboration with Astellas Pharma Inc. and GlaxoSmithKline. XenoPort’s product candidates are being studied for the potential treatment of restless legs syndrome, gastroesophageal reflux disease, neuropathic pain, spasticity and Parkinson’s disease.

To learn more about XenoPort, please visit the Web site at www.XenoPort.com.

XenoPort is a registered trademark of XenoPort, Inc.

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CONTACT:

XenoPort, Inc.
Jackie Cossmon, 408-616-7220
[email protected]

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:   Health  Biotechnology  Pharmaceutical  Professional Services  Finance

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