Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
September 27 2019 - 5:30PM
Apellis Pharmaceuticals Inc., (Nasdaq:APLS) a clinical-stage
biopharmaceutical company focused on the development of novel
therapeutic compounds to treat disease through the inhibition of
the complement system, announced that, on July 5 and August 27,
2019, the Company approved the grant of equity awards to two new
employees with a grant date of September 23, 2019, as equity
inducement awards outside of the Company's 2017 Stock Incentive
Plan and material to the employees’ acceptance of employment with
the Company. The equity awards were approved in accordance with
Nasdaq Listing Rule 5635(c)(4).
The employees received as inducement grants, in the aggregate,
options to purchase 79,200 shares of Apellis common stock. The
options have an exercise price of $26.49 per share, which is equal
to the closing price of Apellis common stock on September 23, 2019,
the grant date of the options. One-fourth of the shares underlying
each employee option will vest on the one year anniversary of each
employee’s date of employment and thereafter 1/48th of the shares
underlying each employee option will vest monthly, such that the
shares underlying the options granted to each employee will be
fully vested on the fourth anniversary of each employee’s date of
hire, subject to each employee’s continued employment with Apellis
on such vesting dates.
About Apellis Apellis Pharmaceuticals,
Inc. is a clinical-stage biopharmaceutical company focused on
the development of novel therapeutic compounds for the treatment of
a broad range of life-threatening or debilitating autoimmune
diseases based upon complement immunotherapy through the inhibition
of the complement system at the level of C3. Apellis is the first
company to advance chronic therapy with a C3 inhibitor into
clinical trials. For additional information about Apellis and
APL-2, please visit http://www.apellis.com.
Forward-Looking Statements
Statements in this press release about future expectations, plans
and prospects, as well as any other statements regarding matters
that are not historical facts, may constitute “forward-looking
statements” within the meaning of The Private Securities Litigation
Reform Act of 1995. These statements include, but are not limited
to, statements relating to the implications of preliminary clinical
data. The words “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “will,” “would” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Actual results may differ materially from
those indicated by such forward-looking statements as a result of
various important factors, including: whether the Company’s
clinical trials will be fully enrolled and completed when
anticipated; whether preliminary or interim results from a clinical
trial will be predictive of the final results of the trial; whether
results obtained in preclinical studies and clinical trials will be
indicative of results that will be generated in future clinical
trials; whether APL-2 or APL-9 will successfully advance through
the clinical trial process on a timely basis, or at all; whether
the results of such clinical trials will warrant regulatory
submissions and whether APL-2 will receive approval from the FDA or
equivalent foreign regulatory agencies for GA, PNH, CAD, wAIHA or
any other indication; whether, if Apellis’ products receive
approval, they will be successfully distributed and marketed; and
other factors discussed in the “Risk Factors” section of Apellis’
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission on July 31, 2019 and the risks described in
other filings that Apellis may make with the Securities and
Exchange Commission. Any forward-looking statements contained in
this press release speak only as of the date hereof, and Apellis
specifically disclaims any obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Investor Contact: Alex
Kaneakane@w2ogroup.com212.301.7218 (office)
929.400.2691 (mobile)
Media Contact: Tracy
Vineistracy.vineis@apellis.com617.420.4839 (office)
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