LEXINGTON, Mass., July 29,
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
July 22, 2022, the independent
Compensation Committee of the Board of Directors of Curis approved
the grant of an inducement stock option to purchase a total of
540,000 shares of Curis common stock to a new employee, with a
grant date of July 26, 2022, which is
the employee's date of hire (the "Inducement Grant").
Such Inducement Grant has an exercise price per share equal to
the closing price of the Company's common stock on July 26, 2022, which is the employee's date of
hire. Such Inducement Grant 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. Such Inducement
Grant 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 hematologic malignancies, such as
non-Hodgkin's lymphoma and other B cell malignancies, both as a
monotherapy and in combination with BTK inhibitor ibrutinib, and
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 U.S. Food and Drug Administration.
The FDA has placed a partial clinical hold on the TakeAim Leukemia
and TakeAim Lymphoma trials during which no new patients will be
enrolled, and current study participants benefiting from treatment
may continue to be treated with emavusertib at doses of 300mg BID
or lower. 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.