Assembly Biosciences Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
October 05 2017 - 7:00AM
Assembly Biosciences, Inc. (NASDAQ:ASMB), a clinical-stage
biotechnology company advancing a new class of oral therapeutics
for the treatment of hepatitis B virus (HBV) infection and novel
oral live biotherapeutics for disorders associated with the
microbiome, today announced grants of options to six new employees
to purchase an aggregate of 30,650 shares of Assembly’s common
stock with an exercise price of $34.47 per share, the closing price
on October 2, 2017. 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
equal monthly installments thereafter. The options in all cases are
subject to such employees’ continued service with Assembly through
the applicable vesting dates and to acceleration upon the
occurrence of certain events as set forth in the option agreements.
None of these new employees are executive officers.
The stock options were granted outside of Assembly’s
stockholder-approved equity incentive plan 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 an inducement
material to the employees entering into employment with Assembly in
accordance with NASDAQ Listing Rule 5635(c)(4), which requires this
public announcement.
About Assembly BiosciencesAssembly Biosciences,
Inc. is a clinical-stage public biotechnology company developing
two innovative platform programs: an HBV program advancing a new
class of oral therapeutics for the treatment of hepatitis B virus
(HBV) infection and a microbiome program developing novel oral live
biotherapeutics designed to address diseases associated with the
microbiome. Assembly’s HBV program is advancing multiple drug
candidates with the aim of increasing cure rates in patients with
chronic HBV. The company's microbiome program consists of a fully
integrated platform that includes a robust strain identification
and selection process, methods for strain isolation and growth
under current Good Manufacturing Practices and a patent-pending
delivery system, GEMICEL®, which allows for targeted oral delivery
of live biologic and conventional therapies to the lower
gastrointestinal tract. Assembly is developing a robust pipeline of
product candidates in multiple disease indications. For more
information, visit www.assemblybio.com.
Forward-Looking StatementsThe information in
this press release contains forward-looking statements regarding
future events, including statements about the clinical and
therapeutic potential of Assembly’s development programs. Certain
forward-looking statements may be identified by reference to a
future period or periods or by use of forward-looking terminology
such as “designed” or “developing.” Assembly intends such
forward-looking statements to be covered by the safe harbor
provisions contained in Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Actual results or developments may differ materially
from those projected or implied in these forward-looking
statements. More information about the risks and uncertainties
faced by Assembly are more fully detailed under the heading “Risk
Factors” in Assembly's Annual Report on Form 10-K for the year
ended December 31, 2016, and Quarterly Reports on Form 10-Q for the
quarter ended June 30, 2017 filed with the Securities and Exchange
Commission. Except as required by law, Assembly assumes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contacts
Investors:Lauren Glaser (415)
521-3828lglaser@assemblybio.com
Media:Barbara Lindheim (212)
584-2276barbara@assemblybio.com
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