Since the fall of 2006, Mr. Loar held the position of Chief Financial Officer at Osteologix, Inc. Prior to his tenure at Osteologix, he spent eleven years with Genelabs Technologies, Inc. where he held several positions, including Chief Financial Officer, Vice President of Finance and Controller. Earlier in his career, from 1991 through 1995, Mr. Loar was Corporate Accounting Manager for an international manufacturing company with approximately $500 million in annual product sales. From 1986 to 1991 he was audit manager with Coopers & Lybrand, a predecessor firm to PriceWaterhouseCoopers. Mr. Loar graduated from the University of California, Berkeley and is a member of the American Institute of CPAs. He is a member of Financial Executives International and for two years served as treasurer of their Silicon Valley Chapter.
As an inducement to his entering into employment with the Company, Mr. Loar was awarded an option in accordance with NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) to purchase up to 150,000 shares of the Company's common stock outside of the Company's stockholder-approved equity incentive plans, at an exercise price per share equal to the fair market value of the Company's common stock on April 1, 2008. The inducement option, which will have a term of 10 years, will vest with respect to one-eighth of the underlying shares six months after the date of grant and then with respect to the remaining shares ratably over the next 42 months.
About Neurobiological Technologies
Neurobiological Technologies, Inc, (Nasdaq: NTII) is a
biopharmaceutical company focused on developing novel, first-in-class
agents for central nervous system conditions and other serious unmet
|SOURCE Neurobiological Technologies, Inc.|
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