GlobeNewswire Inc | Oct 2, 2020 04:30PM EDT

October 02, 2020

BOSTON, Oct. 02, 2020 (GLOBE NEWSWIRE) -- Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, today announced the grant of inducement stock options exercisable for an aggregate of 23,000 shares of Albireos common stock. The stock options are exercisable at a price of $32.90 per share, the closing price of Albireos common stock on September 28, 2020, the grant date, and were granted as inducements material to the employees acceptance of employment with Albireo in accordance with Nasdaq Listing Rule 5635(c)(4). Each stock option has a 10-year term and vests over a four-year period, subject to the employees continued service with Albireo through the applicable vesting dates. The vesting schedule for each stock option is 25 percent on the one-year anniversary of the employees start date with Albireo and 75 percent in 12 equal quarterly installments thereafter. The stock options are subject to the terms and conditions of Albireos 2020 Inducement Equity Incentive Plan.

About AlbireoAlbireo Pharmais a clinical-stage biopharmaceutical company focused on the development of novel bile acid modulators to treat orphan pediatric liver diseases, and other liver and gastrointestinal diseases and disorders. Albireos lead product candidate, odevixibat, is being developed to treat rare pediatric cholestatic liver diseases and is in Phase 3 development in progressive familial intrahepatic cholestasis (PFIC) and biliary atresia, with a third Phase 3 trial being planned in Alagille syndrome. Albireo was spun out from AstraZeneca in 2008. Albireo Pharma is located in Boston, Massachusetts, and its key operating subsidiary is located in Gothenburg, Sweden.

Investor Contact: Hans VitzthumLifeSci Advisors, LLC617-430-7578

Media Contact:Colleen Alabiso, 857-356-3905, colleen.alabiso@albireopharma.comClaire LaCagnina, 6 Degrees, 315-765-1462, clacagnina@6degreespr.com