LEXINGTON, Mass., Jan. 8, 2021 /PRNewswire/ -- Curis,
Inc. (NASDAQ: CRIS), a biotechnology company focused on the
development of innovative therapeutics for the treatment of cancer,
today announced that on January 4,
2021, the independent Compensation Committee of the Board of
Directors of Curis approved the grant of inducement stock options
to purchase a total of 185,000 shares of Curis common stock to
three new employees, with a grant date of January 4, 2021 (the "Q1 2021 Inducement
Grants").
Each of the Q1 2021 Inducement Grants has an exercise price per
share equal to the closing price of the Company's common stock on
January 4, 2021. Each stock option
has a 10 year term and vests over four years, with 25% of the
original number of shares underlying the award vesting on the first
anniversary of the employee's date of hire and an additional 6.25%
of the original number of shares underlying the award vesting on
each successive three-month period thereafter, subject to the
employee's continued service with the Company through the
respective vesting dates. Each stock option was granted as an
inducement equity award outside of the Company's Third Amended and
Restated 2010 Stock Incentive Plan and was made as an inducement
material to the employee's acceptance of employment with the
Company.
About Curis, Inc.
Curis is a biotechnology company focused on the development of
innovative therapeutics for the treatment of cancer. In 2015, Curis
entered into a collaboration with Aurigene in the areas of
immuno-oncology and precision oncology. As part of this
collaboration, Curis has exclusive licenses to oral small molecule
antagonists of immune checkpoints including the VISTA/PDL1
antagonist CA-170, and the TIM3/PDL1 antagonist CA-327, as well as
the IRAK4 kinase inhibitor, CA-4948. CA-4948 is currently
undergoing testing in a Phase 1 trial in patients with
non-Hodgkin's lymphoma and in a Phase 1 trial in patients with
acute myeloid leukemia and myelodysplastic syndromes. In addition,
Curis is engaged in a collaboration with ImmuNext for development
of CI-8993, a monoclonal anti-VISTA antibody, which is
currently undergoing testing in a Phase 1a/1b trial in
patients with solid tumors. Curis is also party to a collaboration
with Genentech, a member of the Roche Group, under which Genentech
and Roche are commercializing Erivedge® for the
treatment of advanced basal cell carcinoma. For more information,
visit Curis' website at www.curis.com.
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SOURCE Curis, Inc.