Neoleukin Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
September 05 2019 - 04:05PM
Neoleukin Therapeutics, Inc. (“Neoleukin”) (NASDAQ:NLTX), a
biopharmaceutical company utilizing sophisticated computational
methods to design de novo protein therapeutics,
today announced it has granted equity awards that were
approved by the Compensation Committee of its Board of Directors on
August 31, 2019 as a material inducement to employment to four
individuals hired by Neoleukin. The equity awards were approved in
accordance with Nasdaq Listing Rule 5635(c)(4).
Neoleukin granted, in the aggregate, options to purchase
3,300,000 shares of Neoleukin common stock, including options to
purchase 1,650,000 shares granted to Jonathan Drachman, M.D.,
in connection with Dr. Drachman's appointment as Neoleukin’s Chief
Executive Officer. Each of the options has an exercise price of
$2.80 per share, which is equal to the closing price of Neoleukin’s
common stock on September 3, 2019. One-fourth of the shares
underlying each employee's option will vest on the one year
anniversary of his or her date of hire and thereafter 1/48th of the
shares underlying each employee's option will vest monthly, such
that the shares underlying the option granted to each employee will
be fully vested on the fourth anniversary of his or her date of
hire, in each case, subject to each such employee's continued
employment with Neoleukin on such vesting dates.
About Neoleukin Therapeutics, Inc.Neoleukin is
a biopharmaceutical company creating next generation
immunotherapies using de novo protein design
technology. Neoleukin uses sophisticated computational
methods to design proteins that demonstrate specific pharmaceutical
properties that provide potentially superior therapeutic benefit
over native proteins. Neoleukin’s lead product candidate,
NL-201, is a combined IL-2 and IL-15 agonist designed to eliminate
alpha receptor binding. For more information, please visit the
Neoleukin website: www.neoleukin.com.
Contacts:
MediaJulie
Rathbun206-769-9219jrathbun@neoleukin.com
InvestorsSolebury TroutBrian
Korb646-378-2923bkorb@troutgroup.com
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