LEXINGTON, Mass., April 7,
2022 /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, 2022, the independent
Compensation Committee of the Board of Directors of Curis approved
the grant of inducement stock options to purchase a total of
380,850 shares of Curis common stock to seven new employees, with a
grant date of April 1, 2022 (the "Q2
2022 Inducement Grants").
Each of the Q2 2022 Inducement Grants has an exercise price per
share equal to the closing price of the Company's common stock on
April 1, 2022. 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 Fourth 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, emavusertib (CA-4948). Emavusertib is
currently undergoing testing in the Phase 1/2 TakeAim Lymphoma
trial, in patients with non-Hodgkin's lymphoma both as a
monotherapy and in combination with BTK inhibitor ibrutinib. The
U.S. Food and Drug Administration ("FDA") has placed a partial
clinical hold on Curis's evaluation of emavusertib in the Phase 1/2
TakeAim Leukemia trial in patients with acute myeloid leukemia and
myelodysplastic syndrome, for which it has received Orphan Drug
Designation from the FDA. 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 1 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's website at www.curis.com.
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SOURCE Curis, Inc.