CytomX Therapeutics Announces New Employment Inducement Grant
February 19 2021 - 8:00AM
CytomX Therapeutics, Inc. (Nasdaq: CTMX), a clinical-stage
oncology-focused biopharmaceutical company pioneering a novel class
of investigational conditionally-active antibody therapeutics based
on its Probody® technology platform, today announced that on
February 15, 2021, the Company granted a new employee an option to
purchase a total of 65,000 shares of the Company’s common stock at
an exercise price per share equal to $8.64, which was the closing
trading price on February 16, 2021, 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 August 2020 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 TherapeuticsCytomX
is a clinical-stage, oncology-focused biopharmaceutical company
with a vision of transforming lives with safer, more effective
therapies. We are developing a novel class of investigational
conditionally-active antibody therapeutics, based on our Probody®
technology platform, for the treatment of cancer. CytomX has
strategic drug discovery and development collaborations with
AbbVie, Amgen, Astellas, and Bristol Myers Squibb.
Probody therapeutics are conditionally-active
antibodies designed to remain inactive until they are activated by
proteases in the tumor microenvironment. As a result, Probody
therapeutics are intended to bind selectively to tumors and
decrease binding to healthy tissue, to minimize toxicity and
potentially create safer, more effective therapies. As leaders in
the field, our innovative technology is designed to turn previously
undruggable targets into druggable targets and to enable more
effective combination therapies. CytomX and its partners, comprised
of leading biotechnology and pharmaceutical companies, have
developed a robust pipeline of potential first-in-class therapeutic
candidates against novel, difficult to drug targets and potential
best-in-class immunotherapeutic candidates against clinically
validated targets. The CytomX clinical-stage pipeline comprises
five assets, four of which are in Phase 2 clinical studies.
First-in-class product candidates against previously undruggable
targets include a CD166-targeting conditionally-active
antibody-drug conjugate wholly owned by CytomX (praluzatamab
ravtansine, CX-2009) and a CD71-targeting conditionally-active
antibody-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. The CytomX clinical-stage
pipeline also includes cancer immunotherapeutic candidates against
validated targets such as the CTLA-4-targeting conditionally-active
antibody therapeutics, BMS-986249 and BMS-986288, partnered with
Bristol Myers Squibb, and our wholly-owned conditionally-active
anti-PD-L1 antibody, pacmilimab (CX-072). For additional
information about CytomX Therapeutics, visit www.cytomx.com and
follow us on LinkedIn and Twitter.
Probody is a U.S. registered trademark of CytomX
Therapeutics, Inc.
CytomX Contact:Chau Cheng, PhD
MBAVP, Investor Relations & Corp.
Communicationsccheng@cytomx.comDirect: (650) 273-4999
Investor and Media
Contact:Stern Investor RelationsStephanie
Ascherstephanie.ascher@sternir.com212-362-1200
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