Gemini Therapeutics Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
April 13 2021 - 8:00AM
Business Wire
Gemini Therapeutics, Inc. (Nasdaq: GMTX), a clinical stage
precision medicine company developing innovative treatments for
genetically defined age-related macular degeneration (AMD), today
announced the grant of an inducement award to Brian Piekos,
Gemini’s Chief Financial Officer and the grant of an inducement
award to Dr. Sam Barone, Gemini’s Chief Medical Officer. In
accordance with NASDAQ Listing Rule 5635(c)(4), the award was
approved by Gemini’s Compensation Committee and made as a material
inducement to both Mr. Piekos’ and Dr. Barone’s entry into
employment with the Company.
In connection with the appointment, Mr. Piekos received an
option to purchase 377,734 shares shares of Gemini common stock on
April 12, 2021 at an exercise price of $12.59 per share, the
closing trading price on the Nasdaq Global Select Market on the
date of grant.
In connection with the appointment, Dr. Barone received an
option to purchase 255,212 shares shares of Gemini common stock on
April 12, 2021 at an exercise price of $12.59 per share, the
closing trading price on the Nasdaq Global Select Market on the
date of grant.
The agreement covering these option awards is consistent with
Gemini’s standard stock option inducement award agreement. The
option has a ten-year term and a four-year vesting schedule, with
25% of the shares subject to the option vesting on the first
anniversary of the grant date and the remainder in equal monthly
installments over the following three years, subject to Mr. Piekos’
and Dr. Barone’s continued service with Gemini through the
applicable vesting date.
About Gemini Therapeutics
Gemini Therapeutics is a clinical stage precision medicine
company developing novel therapeutic compounds to treat genetically
defined age-related macular degeneration (AMD). Gemini’s lead
candidate, GEM103, is a recombinant form of human complement factor
H protein (CFH) and is designed to address both complement
hyperactivity and restore retinal health in patients with AMD.
GEM103 is currently in a Phase 2a trial in dry AMD patients with a
CFH risk variant and a Phase 1/2a study in patients with
neovascular age-related macular degeneration with or at risk for
macular atrophy. The company has generated a rich pipeline
including recombinant proteins, gene therapies, and monoclonal
antibodies and is advancing a potentiating antibody for CFH,
GEM307, into clinical development for treatment of systemic
diseases.
For more information, visit www.geminitherapeutics.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210413005475/en/
Investor Contact:
Argot Partners Sherri Spear 212-600-1902
gemini@argotpartners.com
Media Contact: Argot Partners Joshua Mansbach
212-600-1902 gemini@argotpartners.com
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