LEXINGTON, Mass., May 5, 2023
/PRNewswire/ -- Curis, Inc. (NASDAQ: CRIS), a biotechnology company
focused on the development of innovative therapeutics for the
treatment of cancer, today announced that the Board of Directors of
Curis approved the grant of inducement stock options to its newly
appointed Chief Development Officer, Jonathan B. Zung, Ph.D. to purchase a total of
500,000 shares of Curis common stock, with a grant date of
May 1, 2023 (the "Inducement
Grant").
The Inducement Grant has an exercise price per share equal to
the closing price of the Company's common stock on May 1, 2023. The Inducement Grant has a 10
year term and vests over four years, with 25% of the original
number of shares underlying the award vesting on the first
anniversary of Dr. Zung's start date and an additional 6.25% of the
original number of shares underlying the award vesting on each
successive three-month period thereafter, subject to Dr. Zung's
continued service with the Company through the respective vesting
dates. Dr. Zung's stock option was granted as an inducement
equity award outside of the Company's Fourth Amended and Restated
2010 Stock Incentive Plan and was made as an inducement material to
his acceptance of employment with the Company.
About Curis, Inc.
Curis is a biotechnology company focused on the development of
innovative therapeutics for the treatment of cancer. In 2015, Curis
entered into a collaboration with Aurigene in the areas of
immuno-oncology and precision oncology. As part of this
collaboration, Curis has exclusive licenses to oral 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). Emavusertib is
currently undergoing testing in the Phase 1/2 TakeAim Lymphoma
trial, in patients with hematologic malignancies, such as
non-Hodgkin's lymphoma and other B cell malignancies, both as a
monotherapy and in combination with BTK inhibitor ibrutinib, and
the Phase 1/2 TakeAim Leukemia trial in patients with acute myeloid
leukemia and myelodysplastic syndrome, for which it has received
Orphan Drug Designation from the U.S. Food and Drug
Administration. The FDA has placed a partial clinical hold on
the TakeAim Leukemia trial during which no new patients will be
enrolled in the monotherapy expansion phase (Phase 2a) or the
combination phase (Phase 1b) of
emavusertib with azacitidine or venetoclax. In addition, Curis
is engaged in a collaboration with ImmuNext for development of
CI-8993, a monoclonal anti-VISTA antibody. Curis is also party to a
collaboration with Genentech, a member of the Roche Group, under
which Genentech and Roche are commercializing Erivedge®
for the treatment of advanced basal cell carcinoma. For more
information, visit Curis's website at www.curis.com.
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SOURCE Curis, Inc.