LEXINGTON, Mass., April 5,
2024 /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, 2024, the independent
Compensation Committee of the Board of Directors of Curis approved
the grant of inducement stock options to purchase a total of 8,550
shares of Curis common stock to a new employee, with a grant date
of April 1, 2024 (the "Q2 2024
Inducement Grant").
The Q2 2024 Inducement Grant has an exercise price per share
equal to the closing price of the Company's common stock on
April 1, 2024. The 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. The 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
emavusertib, an orally available, small molecule IRAK4 inhibitor.
Emavusertib is currently undergoing testing in the Phase 1/2
TakeAim Lymphoma study in patients with relapsed/refractory
primary central nervous system lymphoma (PCNSL) in combination with
the BTK inhibitor ibrutinib, as a monotherapy in the Phase 1/2
TakeAim Leukemia study in patients with relapsed/refractory acute
myeloid leukemia (AML) and relapsed/refractory high risk
myelodysplastic syndrome (hrMDS), both of which have received
Orphan Drug Designation from the U.S. Food and Drug Administration.
Emavusertib is also being evaluated as a frontline combination
therapy with azacitidine and venetoclax in patents with
AML. Curis, through its 2015 collaboration with Aurigene, has
the exclusive license to emavusertib (CA-4948). Curis licensed its
rights to Erivedge® to Genentech, a member of the Roche Group,
under which they 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.