Assembly Biosciences Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
December 08 2017 - 5:53PM
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 four new employees
to purchase an aggregate of 10,400 shares of Assembly’s common
stock with an exercise price of $44.28 per share, the closing price
on December 8, 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 Biosciences Assembly
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 ending September 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.
ContactsInvestors:Lauren Glaser (415)
521-3828lglaser@assemblybio.com
Media:Barbara Lindheim (212)
584-2276barbara@assemblybio.com
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