Mersana Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 03 2023 - 4:05PM
Mersana Therapeutics, Inc. (NASDAQ:MRSN), a clinical-stage
biopharmaceutical company focused on discovering and developing a
pipeline of antibody-drug conjugates (ADCs) targeting cancers in
areas of high unmet medical need, today announced that on February
1, 2023, an authorized sub-committee of the Board of Directors of
Mersana granted inducement awards, consisting of stock options to
purchase an aggregate of 42,000 shares of its common stock and
restricted stock unit awards (RSUs) to acquire an aggregate of
97,665 shares of its common stock, to 10 new employees whose
employment commenced in January 2023. The awards were granted
pursuant to terms and conditions fixed by the Compensation
Committee and as an inducement material to each new employee
entering employment with Mersana in accordance with Nasdaq Listing
Rule 5635(c)(4).
The option awards have an exercise price of $6.72 per share,
which is equal to the closing price of Mersana’s common stock on
February 1, 2023. Each option has a 10-year term and will vest over
a period of four years, with 25% of the shares vesting on the
one-year anniversary of the commencement of the employee’s
employment and the remainder vesting in equal quarterly
installments over the following three years, subject to the
applicable employee’s continued service with Mersana on each such
vesting date. The options are subject to the terms and conditions
of Mersana’s 2022 Inducement Stock Incentive Plan and the terms and
conditions of a stock option agreement covering each grant.
The RSUs will vest in four equal annual installments following
February 15, 2023, subject to the applicable employee’s continued
service with Mersana on each such vesting date. The RSUs are
subject to the terms and conditions of Mersana’s 2022 Inducement
Stock Incentive Plan and the terms and conditions of an RSU
agreement covering each grant.
About Mersana TherapeuticsMersana Therapeutics
is a clinical-stage biopharmaceutical company using its
differentiated and proprietary ADC platforms to rapidly develop
novel ADCs with optimal efficacy, safety and tolerability to
meaningfully improve the lives of people fighting cancer. Mersana’s
lead product candidate, upifitamab rilsodotin (UpRi), is a
Dolaflexin ADC targeting NaPi2b that is being studied in UPLIFT, a
single-arm registrational trial in patients with platinum-resistant
ovarian cancer; UPGRADE-A, a Phase 1 clinical trial evaluating UpRi
in combination with carboplatin; and UP-NEXT, a Phase 3 clinical
trial of UpRi as monotherapy maintenance following treatment with
platinum doublets in recurrent platinum-sensitive ovarian cancer.
Mersana is also advancing XMT-1660, a Dolasynthen ADC targeting
B7-H4, and XMT-2056, an Immunosynthen ADC targeting a novel epitope
of human epidermal growth factor receptor 2 (HER2), in addition to
other earlier-stage assets. In addition, multiple partners are
using Mersana’s platforms to advance their ADC pipelines. Mersana
routinely posts information that may be useful to investors on the
“Investors & Media” section of its website at
www.mersana.com.
Contact:Jason
Fredette617-498-0020jason.fredette@mersana.com
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