SOUTH PLAINFIELD, N.J., Nov. 18, 2016 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that on November 17, 2016 it approved non-statutory stock options to purchase an aggregate of 33,600 shares of its common stock to eight new employees. The awards were made pursuant to the NASDAQ inducement grant exception as a component of our new hires' employment compensation. The inducement grants were approved by PTC's Compensation Committee on November 17, 2016 and are being made as an inducement material to each employee's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4). Seven of the stock option awards have an exercise price of $12.64 per share, the closing price of PTC's common stock on November 17, 2016, the date of the grant. The remaining stock option award will have an exercise price equal to the closing price of PTC's common stock on the applicable employee's new hire date, or the first trading day thereafter, which will be the date of the grant. The stock options each have a 10-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee's new hire date and an additional 6.25% of the original number of shares vesting at the end of each subsequent three-month period thereafter, subject to the employee's continued service with the Company through the applicable vesting dates.