Assembly Biosciences Reports Inducement Grant under NASDAQ Listing Rule 5635(c)(4)
October 28 2019 - 5:15PM
Assembly Biosciences, Inc. (NASDAQ: ASMB), a clinical-stage
biotechnology company developing innovative therapeutics targeting
hepatitis B virus (HBV) and diseases associated with the
microbiome, today announced a grant of inducement awards to its
Chief Financial Officer, Thomas J. Russo, CFA on October 28, 2019.
The Company granted Mr. Russo non-qualified stock options to
purchase 185,000 shares of the company’s common stock with an
exercise price of $15.69 per share, the closing price of Assembly’s
common stock as reported by Nasdaq on October 28, 2019. The option
grant was made as a material inducement to Mr. Russo to accept the
Company’s offer of employment as its Chief Financial Officer. The
stock options have a ten-year term and vest over four years, with
one-fourth vesting on the first anniversary of the date of grant
and the remaining three-fourths vesting in substantially equal
monthly installments over the next 36 months. The options are
subject to Mr. Russo’s continued service with Assembly through the
applicable vesting dates and to acceleration upon the occurrence of
certain events as set forth in the award agreement evidencing the
options.
The option grant was granted outside of Assembly’s
stockholder-approved equity incentive plans pursuant to Assembly’s
2017 Inducement Award Plan. The stock options were approved by the
compensation committee of the board of directors, which is
comprised solely of independent directors, as a material inducement
to Mr. Russo entering into employment with the Company in
accordance with Nasdaq Listing Rule 5635(c)(4).
About Assembly Biosciences Assembly
Biosciences, Inc. is a clinical-stage biotechnology company
developing innovative therapeutics targeting hepatitis B virus
(HBV) and diseases associated with the microbiome. The HBV program
is focused on advancing a new class of potent, oral core inhibitors
that have the potential to increase cure rates for chronically
infected patients. The microbiome program is developing novel
oral live microbial biotherapeutic candidates with Assembly’s fully
integrated platform, including a robust process for strain
identification and selection, GMP banking and production, and
targeted delivery to the lower gastrointestinal tract with the
GEMICEL® technology. For more information,
visit assemblybio.com.
Contacts Assembly Biosciences, Inc. Investors:
Lauren Glaser (415) 521-3828 lglaser@assemblybio.com
Assembly Biosciences (NASDAQ:ASMB)
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