Gemini Therapeutics Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
October 14 2021 - 7:00AM
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 inducement awards under Gemini’s 2021
Inducement Plan to two new employees of options to purchase an
aggregate of 217,000 shares of Gemini’s common stock. In accordance
with NASDAQ Listing Rule 5635(c)(4), the awards were approved by
Gemini’s Compensation Committee and made as a material inducement
to each employee’s entry into employment with Gemini.
The agreements covering these option awards are consistent with
Gemini’s standard stock option inducement award agreement. Each
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 each
employee’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. Gemini is also working to advance a potentiating
antibody for CFH, GEM307, towards 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/20211014005087/en/
Investor Contact: Argot Partners Sherri Spear
212-600-1902 gemini@argotpartners.com
Media Contact: Argot Partners Joshua R. Mansbach
212-600-1902 gemini@argotpartners.com
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