Cullinan Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
June 01 2022 - 5:00PM
Cullinan Oncology, Inc. (Nasdaq: CGEM) (“Cullinan”) today
announced that the compensation committee of the Company's Board of
Directors granted stock option awards to purchase an aggregate of
174,000 shares of its common stock to four employees outside
Cullinan Oncology, Inc’s 2021 Stock Option and Incentive Plan. The
stock options were granted as an inducement material to the
individuals entering into employment with Cullinan, in accordance
with Nasdaq Listing Rule 5635(c)(4).
Four employees received options to purchase an aggregate of
174,000 shares of Cullinan’s common stock on June 1, 2022 and have
an exercise price of $11.34, which is equal to the closing price of
Cullinan’s common stock on June 1, 2022. Each option has a ten-year
term and vests over four years, with 25 percent of the original
number of shares underlying each option vesting on the one-year
anniversary of the vesting commencement date and then in equal
installments for 36 months thereafter, subject to the employee's
continued service with Cullinan through the applicable vesting
dates.
About Cullinan Oncology
Cullinan Oncology, Inc. (NASDAQ: CGEM) is a
biopharmaceutical company dedicated to creating new standards of
care for patients with cancer. We innovate without borders to find
the most promising clinic-ready cancer therapies, whether from our
own discovery efforts or through exceptional engagement with our
academic and industry partners. Anchored in a deep understanding of
immuno-oncology and translational cancer medicine, we leverage our
scientific excellence in small molecules and biologics to create
differentiated ideas, identify unique targets, and select the
optimal modality to develop transformative therapeutics across
cancer indications. Powered by our novel research model, we push
conventional boundaries from candidate selection to cancer
therapeutic, applying rigorous early experimentation to fast-track
only the most promising assets to the clinic and ultimately
commercialization. As a result, our diversified pipeline is
strategically built with assets that activate the immune system or
inhibit key oncogenic drivers across a wide range of modalities,
each with the potential to be the best or first in their class.
Our people possess deep scientific expertise, seek innovation
openly, and exercise creativity and urgency to deliver on our
promise to bring new therapeutic solutions to patients with cancer.
Learn more about our Company at www.cullinanoncology.com, and
follow us on LinkedIn and Twitter.
ContactsInvestor RelationsChad Messer+1
203.464.8900cmesser@cullinanoncology.com
MediaRose Weldon+1 215.801.7644rweldon@cullinanoncology.com
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