Assembly Biosciences Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
November 06 2020 - 4:30PM
Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage
biotechnology company developing innovative therapeutics targeting
hepatitis B virus (HBV) and diseases associated with the
microbiome, today announced a grant of stock options to a new
employee to purchase 6,520 shares of the Company’s common stock
with an exercise price of $14.75 per share, the closing price of
Assembly’s common stock on November 2, 2020. The stock options were
granted as a material inducement to the new employee to accept the
Company’s offer of employment.
The stock options have a ten-year term and vest over four years,
with one-fourth vesting on the first anniversary of the date of
grant and the remaining three-fourths vesting in approximately
equal monthly installments. The stock options are, in all cases,
subject to the new employee’s continued service with Assembly
through the applicable vesting dates and to acceleration upon the
occurrence of certain events as set forth in the award agreement
evidencing the stock options. The new employee is not an executive
officer.
The stock options were granted outside of Assembly’s
stockholder-approved equity incentive plans pursuant to Assembly’s
2020 Inducement Award Plan. The stock option award was approved by
the Compensation Committee of Assembly’s Board of Directors, which
is comprised solely of independent directors, as a material
inducement to entering into employment with Assembly in accordance
with Nasdaq Listing Rule 5635(c)(4), which requires this public
announcement.
About Assembly BiosciencesAssembly
Biosciences, Inc. is a clinical-stage biotechnology company
developing innovative therapeutics targeting hepatitis B virus
(HBV) and diseases associated with the microbiome. The HBV program
is focused on advancing a new class of potent, oral core inhibitors
that have the potential to increase cure rates for chronically
infected patients. The microbiome program is developing novel
oral live microbial biotherapeutic candidates with Assembly’s fully
integrated platform, including a robust process for strain
identification and selection, GMP banking and production, and
targeted delivery to the lower gastrointestinal tract with the
GEMICEL® technology. For more information,
visit assemblybio.com.
ContactsAssembly Biosciences, Inc.Lauren
GlaserSenior Vice President, Investor Relations and Corporate
Affairs(415) 521-3828lglaser@assemblybio.com
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