Acrivon Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
17 Agosto 2023 - 5:00PM
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
an employee. The equity awards were granted in the form of
restricted stock units (“RSUs”) and stock options and have a grant
date of August 16, 2023.
The employee received 14,475 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 the employee’s
employment, subject to the employee’s continued employment on each
vesting date. The employee also received an option to purchase
43,425 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 the employee’s employment and in
additional 2.083% installments on a monthly basis thereafter,
subject to the employee’s continued employment on each vesting
date.
The inducement grants were approved by Acrivon’s Compensation
Committee of the 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. 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 targeting two critical nodes in the DNA Damage
Response, or DDR, including WEE1, a protein serine/threonine
kinase, and the closely related PKMYT1.
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
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