Curis, Inc. (NASDAQ: CRIS), a biotechnology company dedicated to creating innovative treatments for cancer, has granted a new employee 135,450 shares of its common stock as an inducement for joining the team.
Approved by the independent Compensation Committee of the Board of Directors on March 31, 2023, the grant, with a grant date of March 31, 2023, marks the first of its kind for the company and is a sign of its commitment to building a dynamic and talented team.
The Q1 2023 Inducement Grant provides a unique opportunity to employees, with an exercise price per share equal to the closing price of the Company’s common stock on March 31, 2023.
This stock option has a 10 year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the employee’s date of hire and an additional 6.25% of the original number of shares vesting on each successive three-month period thereafter.
This grant is awarded as an inducement equity award outside of the Company’s Fourth Amended and Restated 2010 Stock Incentive Plan, offering employees an amazing incentive for joining the Company.
About Curis, Inc.
Curis is a leading biotechnology company on the forefront of cancer therapy, pioneering innovative treatments to help patients. In 2015, the company entered a collaboration with Aurigene, granting exclusive rights to small molecule antagonists of immune checkpoints, including the VISTA/PDL1 antagonist CA-170 and the TIM3/PDL1 antagonist CA-327, as well as the IRAK4 kinase inhibitor, emavusertib (CA-4948).
Currently, emavusertib is being tested in two clinical trials, the TakeAim Lymphoma trial and the TakeAim Leukemia trial, for which it has been granted Orphan Drug Designation from the FDA.
Additionally, Curis is collaborating with ImmuNext to develop CI-8993, a monoclonal anti-VISTA antibody, in a Phase 1 trial in patients with solid tumors. Finally, Curis is partnered with Genentech, a member of the Roche Group, to commercialize Erivedge® for the treatment of advanced basal cell carcinoma.