Gritstone Announces Incentive Grants Under Nasdaq Listing
EMERYVILLE, Calif., June 17, 2021 (GLOBE NEWSWIRE) – Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company developing the next generation of immunotherapies for cancer and infectious disease, announced today hui that the compensation committee of the board of directors of the company granted five employees unqualified stock options to purchase a total of 24,950 common shares, as an incentive to each of the new employees becoming an employee of Gritstone, in accordance with Nasdaq Enrollment Rule 5635 (c) (4).
The stock options have an exercise price of $ 10.20, which corresponds to the closing price of the common shares of Gritstone on June 14, 2021, the grant date. The options will vest over a period of four years, 25% of the options being acquired on the first anniversary of the date of hire of employees, and 1/48e options vested monthly thereafter, subject to continued employment of employees at Gritstone on such vesting dates. The options are subject to the terms and conditions of Gritstone’s 2021 employment incentive plan and the stock option agreement covering the grant.
Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company, is developing the next generation of immunotherapies against several types of cancer and infectious diseases. Gritstone develops its products based on two key pillars: first, a proprietary platform based on machine learning, Gritstone EDGEMT, which is designed to predict which antigens are presented on the surface of cells, such as tumor cells or infected with a virus, which can be seen by the immune system; and, second, the ability to develop and manufacture potent immunotherapies using these antigens to potentially drive the patient’s immune system to specifically attack and destroy pathogenic cells. The Company’s main oncology programs include individualized neoantigen-based immunotherapy, GRANITE, and shared “off-the-shelf” neoantigen-based immunotherapy, SLATE, which are currently being evaluated in clinical studies. In its infectious disease pipeline, Gritstone is advancing CORAL, a COVID-19 program to develop a second generation vaccine, with support from departments at the National Institutes of Health (NIH), the Bill & Melinda Gates Foundation, as well as a license agreement with the Institute of Immunology of La Jolla. In addition, the company has a global collaboration for the development of a therapeutic vaccine against HIV with Gilead Sciences. For more information, please visit gritstonebio.com.
Looking to the future of Gritstone Statements
This press release contains forward-looking statements, including, but not limited to, statements relating to the potential of our product candidates. These forward-looking statements involve substantial risks and uncertainties that could cause Gritstone’s research and clinical development programs, future results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including the initial stage of development of Gritstone’s programs, the process of designing and conducting preclinical and clinical trials, regulatory approval processes. , the timing of regulatory filings, the challenges associated with manufacturing pharmaceuticals, Gritstone’s ability to successfully establish, protect and defend its intellectual property and other matters that could affect the adequacy of existing liquidity to fund operations. . Gritstone assumes no obligation to update or revise any forward-looking statements. For a more detailed description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see Gritstone’s most recent quarterly report. on Form 10- Q filed May 6, 2021 and any current and periodic report filed with the Securities and Exchange Commission.
Wheelhouse Life Science Consultants