CytomX Therapeutics Announces New Employment Inducement Grants
October 18 2019 - 4:05PM
CytomX Therapeutics, Inc. (NASDAQ:CTMX), a clinical-stage
oncology-focused biopharmaceutical company pioneering a novel class
of investigational antibody therapeutics based on its Probody™
therapeutic technology platform, today announced that on October
15, 2019, the Company granted four new employees options to
purchase a total of 411,000 shares of the Company’s common
stock.
The Company has granted its recently appointed executive vice
president and chief development officer, Amy C. Peterson, M.D., an
option to purchase 400,000 shares of the Company’s common stock and
granted three new non-executive employees options to purchase an
aggregate of 11,000 shares of the Company’s common stock at an
exercise price per share equal to $7.16, which was the closing
trading price on October 15, 2019, the date of the grant.
The stock options were granted pursuant to the Company’s 2019
Employment Inducement Incentive Plan, which was approved by the
Company’s board of directors in September 2019 under Rule
5635(c)(4) of The Nasdaq Global Market for equity grants to induce
new employees to enter into employment with the Company.
About CytomX Therapeutics
CytomX Therapeutics is a clinical-stage oncology-focused
biopharmaceutical company pioneering a novel class of
investigational antibody therapeutics based on its Probody™
therapeutic technology platform. Probody therapeutics are designed
to exploit unique conditions of the tumor microenvironment to more
effectively localize antibody binding and activity while minimizing
activity in healthy tissues. CytomX and its partners have four
programs in the clinic. The Company’s clinical stage pipeline
includes cancer immunotherapies against clinically validated
targets, including a PD-L1-targeting Probody therapeutic wholly
owned by CytomX (CX-072) and a CTLA-4-targeting Probody therapeutic
partnered with Bristol Myers Squibb (BMS-986249). The CytomX
clinical stage pipeline also includes first-in-class Probody drug
conjugates against highly attractive targets, including a
CD166-targeting Probody drug conjugate wholly owned by CytomX
(CX-2009), and a CD71-targeting Probody drug conjugate partnered
with AbbVie (CX-2029). CD166 and CD71 are among cancer targets that
are considered to be inaccessible to conventional antibody drug
conjugates due to their presence on many healthy tissues. In
addition to its wholly owned programs, CytomX has strategic
collaborations with AbbVie, Amgen, Bristol-Myers Squibb Company and
ImmunoGen, Inc. For more information, visit www.cytomx.com.
PROBODY is a registered trademark of CytomX Therapeutics.
Contact:
Investors and Media:
Christopher Keenan VP, Investor Relations and Corporate
Communications ckeenan@cytomx.com 650-383-0823
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