HAMILTON,
ON and BOSTON, March 6,
2024 /PRNewswire/ -- Fusion Pharmaceuticals Inc.
(Nasdaq: FUSN), a clinical-stage oncology company focused on
developing next-generation radiopharmaceuticals as precision
medicines, today announced that the compensation committee of the
Company's Board of Directors granted stock option awards to
purchase an aggregate of 245,300 shares of its common stock to four
employees outside Fusion's 2020 Stock Option and Incentive Plan.
The stock options were granted as an inducement material to the
individual becoming an employee of Fusion in accordance with Nasdaq
Listing Rule 5635(c)(4).
The options have an exercise price of $10.79 per share, which is equal to the closing
price of Fusion's common stock on March 4,
2024. Each option has a ten-year term and vests over four
years, with 25% of the original number of shares vesting on the
one-year anniversary of the grant date and then in equal
installments for 36 months thereafter, subject to the employee's
continued service with Fusion through the applicable vesting
dates.
About Fusion
Fusion Pharmaceuticals is a
clinical-stage oncology company focused on developing
next-generation radiopharmaceuticals as precision medicines. Fusion
connects alpha particle emitting isotopes to various targeting
molecules in order to selectively deliver the alpha emitting
payloads to tumors. Fusion's clinical-stage development portfolio
includes lead program, FPI-2265, targeting prostate specific
membrane antigen for metastatic castration resistant prostate
cancer currently in a Phase 2 trial and novel targeted alpha
therapies (TATs) including next-generation antibody drug conjugates
(ADCs). Fusion has a collaboration with AstraZeneca to jointly
develop novel TATs and combination programs between Fusion's TATs
and AstraZeneca's DNA damage response inhibitors and
immuno-oncology agents. Fusion has a fully operational Good
Manufacturing Practice compliant state-of-the-art
radiopharmaceutical manufacturing facility to meet supply demand
for the Company's growing pipeline of TATs. The Company has
strategic actinium supply agreements with Niowave, Inc. and BWXT
Medical.
For further information: Amanda
Cray, Senior Director of Investor Relations & Corporate
Communications, 617-967-0207, cray@fusionpharma.com
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SOURCE Fusion Pharmaceuticals