BRIDGEWATER, N.J., Feb. 28, 2019 (GLOBE NEWSWIRE) -- Valeritas Holdings, Inc. (NASDAQ: VLRX), a medical technology company and maker of V-Go^® Wearable Insulin Delivery device, a simple, all-in-one, wearable insulin delivery option for patients with diabetes, today announced that the Compensation Committee of Valeritas’ Board of Directors granted stock options to purchase an aggregate of 244,400 shares of Valeritas’ common stock to 31 newly-hired employees, with a grant date of February 27, 2019, pursuant to the Valeritas Holdings, Inc. 2018 Inducement Plan that was previously disclosed. The stock options were granted as inducements material to the new employees entering into employment with Valeritas in accordance with NASDAQ Listing Rule 5635(c)(4).

Each of the stock options has an exercise price of $0.479 per share, the closing price of Valeritas’ common stock on February 27, 2019. Each stock option vests over 4 years, with 25% of the original number of shares underlying the stock option vesting on the one-year anniversary of the applicable employee’s employment commencement date, with the remaining amount vesting in equal quarterly installments, subject to the employee’s continued service as an employee of, or other service provider to, Valeritas through the applicable vesting dates.

About Valeritas Holdings, Inc.

Valeritas is a commercial-stage medical technology company focused on improving health and simplifying life for people with diabetes by developing and commercializing innovative technologies. Valeritas’ flagship product, V-Go^® Wearable Insulin Delivery device, is a simple, affordable, all-in-one basal-bolus insulin delivery option for patients with type 2 diabetes that is worn like a patch and can eliminate the need for taking multiple daily shots. V-Go administers a continuous preset basal rate of insulin over 24 hours, and it provides discreet on-demand bolus dosing at mealtimes. It is the only basal-bolus insulin delivery device on the market today specifically designed keeping in mind the needs of type 2 diabetes patients. Headquartered in Bridgewater, New Jersey, Valeritas operates its R&D functions in Marlborough, Massachusetts.

More information is available at www.valeritas.com and our Twitter feed @Valeritas_US, www.twitter.com/Valeritas_US.