Acrivon Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
29 9월 2023 - 5:05AM
Acrivon Therapeutics, Inc. (“Acrivon” or “Acrivon Therapeutics”)
(Nasdaq: ACRV), a clinical stage biopharmaceutical company
developing precision oncology medicines that it matches to patients
whose tumors are predicted to be sensitive to each specific
medicine by utilizing its proprietary proteomics-based patient
responder identification platform, announced that the company
approved a grant of equity awards under its 2023 Inducement Plan to
two employees. The equity awards were granted in the form of
restricted stock units (“RSUs”) and stock options and have a grant
date of September 26, 2023.
The employees received an aggregate 18,356 RSUs, which represent
a right to receive shares of Acrivon common stock, with the award
vesting in 25% annual increments on the first anniversary of the
first day of the month following the effective date of each such
employee’s employment, subject to each such employee’s continued
employment on each vesting date. The employees also received
aggregate options to purchase 55,069 shares of Acrivon common
stock. The stock options will vest 25% on the first anniversary of
the first day of the month following the effective date of each
such employee’s employment and in additional 2.083% installments on
a monthly basis thereafter, subject to each such employee’s
continued employment on each vesting date.
The inducement grants were approved by Acrivon’s Board of
Directors, as required by Nasdaq Rule 5635(c)(4), and were granted
as a material inducement to employment in accordance with Nasdaq
Rule 5635(c)(4).
About Acrivon Therapeutics Acrivon is a
clinical stage biopharmaceutical company developing precision
oncology medicines that it matches to patients whose tumors are
predicted to be sensitive to each specific medicine by utilizing
Acrivon’s proprietary proteomics-based patient responder
identification platform, Acrivon Predictive Precision Proteomics,
or AP3. The AP3 platform enables the creation of drug-specific
proprietary OncoSignature companion diagnostics that are used to
identify the patients most likely to benefit from Acrivon’s drug
candidates. Acrivon is currently advancing its lead candidate,
ACR-368, a selective small molecule inhibitor targeting CHK1 and
CHK2 in a potentially registrational Phase 2 trial across multiple
tumor types. The company has received fast track designation from
the Food and Drug Administration, or FDA, for the investigation of
ACR-368 as monotherapy based on OncoSignature-predicted sensitivity
in patients with platinum-resistant ovarian or endometrial cancer.
Acrivon’s ACR-368 OncoSignature test, which has not yet obtained
regulatory approval, has been extensively evaluated in preclinical
studies, including in two separate, blinded, prospectively-designed
studies on pretreatment tumor biopsies collected from past third
party Phase 2 trials in patients with ovarian cancer treated with
ACR-368. In addition to ACR-368, Acrivon is also leveraging its
proprietary AP3 precision medicine platform for developing its
internally-discovered preclinical stage pipeline programs,
consisting of its development candidate, ACR-2316, a selective,
dual WEE1/PKMYT1 inhibitor, and additional programs targeting these
two critical nodes in the DNA Damage Response, or DDR,
pathways.
Forward-Looking Statements This press release
includes certain disclosures that contain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 about us and our industry that involve
substantial risks and uncertainties. All statements other than
statements of historical facts contained in this press release,
including statements regarding our future results of operations or
financial condition, business strategy and plans and objectives of
management for future operations, are forward-looking statements.
In some cases, you can identify forward-looking statements because
they contain words such as “anticipate,” “believe,” “contemplate,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,” or
“would” or the negative of these words or other similar terms or
expressions. Forward-looking statements are based on Acrivon’s
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Factors that
could cause actual results to differ include, but are not limited
to, risks and uncertainties that are described more fully in the
section titled “Risk Factors” in our reports filed with the
Securities and Exchange Commission. Forward-looking statements
contained in this press release are made as of this date, and
Acrivon undertakes no duty to update such information except as
required under applicable law.
Investor and Media Contacts: Adam
Levyalevy@acrivon.com
Alexandra Santos asantos@wheelhouselsa.com
Acrivon Therapeutics (NASDAQ:ACRV)
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