Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 07 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 August 6, 2019, the
Company approved the grant of an equity award to a new employee
with a grant date of November 1, 2019 as an equity inducement award
outside of the Company's 2017 Stock Incentive Plan and material to
the employee’s acceptance of employment with the Company. The
equity award was approved in accordance with Nasdaq Listing Rule
5635(c)(4).
The employee received an option to purchase 24,600 shares of
Apellis common stock. The option has an exercise price of $30.50
per share, which is equal to the closing price of Apellis common
stock on November 1, 2019, the grant date of the option. One-fourth
of the shares underlying the employee option will vest on the one
year anniversary of the employee’s date of employment and
thereafter 1/48th of the shares underlying the employee option will
vest monthly, such that the shares underlying the option granted to
the employee will be fully vested on the fourth anniversary of the
employee’s date of hire, subject to the 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 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 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 November 5, 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: Sam Martin / Maghan
Meyers Argot Partners
sam@argotpartners.com / maghan@argotpartners.com
212.600.1902
Media Contact: Tracy Vineis
tracy.vineis@apellis.com 617.420.4839
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