LEXINGTON, Mass., April 7, 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 April 1,
2021, the independent Compensation Committee of the Board of
Directors of Curis approved the grant of inducement stock options
to purchase a total of 167,300 shares of Curis common stock to five
new employees, with a grant date of April 1,
2021 (the "Q2 2021 Inducement Grants").
Each of the Q2 2021 Inducement Grants has an exercise price per
share equal to the closing price of the Company's common stock on
April 1, 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
lymphoma both as a monotherapy and in combination with BTK
inhibitor, ibrutinib. Curis is also evaluating CA-4948 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.