Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 17 2024 - 4:30PM
Business Wire
Geron Corporation (Nasdaq: GERN), a commercial stage
biopharmaceutical company, today reported that it has granted
non-statutory stock options to purchase an aggregate of 680,220
shares of Geron common stock as inducements to newly hired
employees in connection with commencement of employment with the
Company.
The stock options were granted on October 16, 2024, at an
exercise price of $4.17 per share, which is equal to the closing
price of Geron common stock on the date of grant. The stock options
have a 10-year term and vest over four years, with 12.5% of the
shares underlying the options vesting on the six-month anniversary
of commencement of employment for the respective employees and the
remaining shares vesting over the following 42 months in equal
installments of whole shares, subject to continued employment with
Geron through the applicable vesting dates. All of the stock
options were granted as a material inducement to employment in
accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to
the terms and conditions of the stock option agreements covering
the grants and Geron’s 2018 Inducement Award Plan, which was
adopted December 14, 2018, and provides for the granting of stock
options to new employees.
About Geron
Geron is a commercial-stage biopharmaceutical company aiming to
change lives by changing the course of blood cancer. Our
first-in-class telomerase inhibitor RYTELO™ (imetelstat) is
approved in the United States for the treatment of certain adult
patients with lower-risk myelodysplastic syndromes (LR-MDS) with
transfusion dependent anemia. We are also conducting a pivotal
Phase 3 clinical trial of imetelstat in JAK-inhibitor
relapsed/refractory myelofibrosis (R/R MF), as well as studies in
other myeloid hematologic malignancies. Inhibiting telomerase
activity, which is increased in malignant stem and progenitor cells
in the bone marrow, aims to reduce proliferation and induce death
of malignant cells. To learn more, visit www.geron.com or follow us
on LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20241017555168/en/
Aron Feingold Vice President, Investor Relations and Corporate
Communications
Kristen Kelleher Associate Director, Investor Relations and
Corporate Communications
investor@geron.com media@geron.com
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