Wednesday, December 19, 2012
KYTHERA Biopharmaceuticals Unlocks Shares for CEO Donation
In an unusual move, Los Angeles-based KYTHERA Biopharmaceuticals said it has released shares of ts stock ahead of lock-up restrictions for the CEO--for a charitable donation. KYTHERA, which had its IPO in October, is still well within the usual sixth month lockup period for employees. The firm said that J.P. Morgan Securities LLC and Goldman, Sachs & Co. are releaing 7,563 shares of the company's common stock held by CEO KEith Leonard, to allow a charitable donation to a not-for-profit entity. Names of that nonprofit was not announced.