Cullinan Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 03 2022 - 4:50PM
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
242,000 shares of its common stock to seven 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).
Seven employees received options to purchase an aggregate of
242,000 shares of Cullinan’s common stock on October 3, 2022 and
have an exercise price of $12.83, which is equal to the closing
price of Cullinan’s common stock on October 3, 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 OncologyCullinan 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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