Kura Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 02 2024 - 7:30AM
Kura Oncology, Inc. (the “Company”) (Nasdaq: KURA), a
clinical-stage biopharmaceutical company committed to realizing the
promise of precision medicines for the treatment of cancer, today
announced that on February 1, 2024, the Compensation Committee of
the Company’s Board of Directors (the “Compensation Committee”)
granted inducement awards consisting of nonstatutory stock options
to purchase 59,750 shares of common stock to three (3) new
employees under the Company’s 2023 Inducement Option Plan. The
Compensation Committee approved the stock options as an inducement
material to such employees’ employment in accordance with Nasdaq
Listing Rule 5635(c)(4).
Each stock option has an exercise price per
share equal to $21.02 per share, the Company’s closing sales price
on February 1, 2024, and will vest over four years, with 25% of the
underlying shares vesting on the one-year anniversary of the
applicable vesting commencement date and the balance of the
underlying shares vesting monthly thereafter over 36 months,
subject to the new employees’ continued service relationship with
the Company through the applicable vesting dates. The stock options
are subject to the terms and conditions of the Company’s 2023
Inducement Option Plan and the terms and conditions of an
applicable stock option agreement covering the grant.
About Kura Oncology
Kura Oncology is a clinical-stage
biopharmaceutical company committed to realizing the promise of
precision medicines for the treatment of cancer. The Company’s
pipeline consists of small molecule drug candidates that target
cancer signaling pathways. Ziftomenib is a once-daily, oral drug
candidate targeting the menin-KMT2A protein-protein interaction for
the treatment of genetically defined acute myeloid leukemia (AML)
patients with high unmet need. Kura is currently enrolling patients
in a Phase 2 registration-directed trial of ziftomenib in
NPM1-mutant relapsed or refractory AML (KOMET-001). The Company is
also conducting a series of studies to evaluate ziftomenib in
combination with current standards of care, beginning with
venetoclax and azacitidine and 7+3 in NPM1-mutant and
KMT2A-rearranged newly diagnosed and relapsed/refractory AML
(KOMET-007). Tipifarnib, a potent and selective farnesyl
transferase inhibitor (FTI), is currently in a Phase 1/2 trial in
combination with alpelisib for patients with PIK3CA-dependent head
and neck squamous cell carcinoma (KURRENT-HN). Kura is also
evaluating KO-2806, a next-generation FTI, in a Phase 1
dose-escalation trial as a monotherapy and in combination with
cabozantinib in clear cell renal cell carcinoma and adagrasib in
KRASG12C-mutated non-small cell lung cancer (FIT-001). For
additional information, please visit Kura’s website
at www.kuraoncology.com and follow us
on X and LinkedIn.
Contacts
Investors:Pete De SpainExecutive Vice President, Investor
Relations &Corporate Communications(858)
500-8833pete@kuraoncology.com
Media:Alexandra WeingartenAssociate Director, Corporate
Communications & Investor Relations(858)
500-8822alexandra@kuraoncology.com
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