LEXINGTON, Mass., Oct. 6, 2023
/PRNewswire/ -- Curis, Inc. (NASDAQ: CRIS), a biotechnology
company focused on the development of innovative therapeutics for
the treatment of cancer, today announced that on October 2, 2023, the independent Compensation
Committee of the Board of Directors of Curis approved the grant of
inducement stock options to purchase a total of 11,340 shares of
Curis common stock to two new employees, with a grant date of
October 2, 2023 (the "Q4 2023
Inducement Grants").
Each of the Q4 2023 Inducement Grants has an exercise price per
share equal to the closing price of the Company's common stock on
October 2, 2023. Each stock option
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 the employee's date of hire and an additional 6.25%
of the original number of shares underlying the award vesting on
each successive three-month period thereafter, subject to the
employee's continued service with the Company through the
respective vesting dates. Each 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 the employee's acceptance of employment with the
Company.
About Curis, Inc.
Curis is a biotechnology company focused on the development of
emavusertib, an orally available, small molecule IRAK4 inhibitor
for the treatment of hematologic malignancies. 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. 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.