Kura Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 03 2024 - 7:30AM
Kura Oncology, Inc. (the “Company”) (Nasdaq: KURA), a
clinical-stage biopharmaceutical company committed to realizing the
promise of precision medicines for the treatment of cancer, today
announced that on May 1, 2024, the Compensation Committee of the
Company’s Board of Directors (the “Compensation Committee”) granted
inducement awards consisting of nonstatutory stock options to
purchase 67,950 shares of common stock to six (6) new employees
under the Company’s 2023 Inducement Option Plan. The Compensation
Committee approved the stock options as an inducement material to
such employees’ employment in accordance with Nasdaq Listing Rule
5635(c)(4).
Each stock option has an exercise price per
share equal to $20.28 per share, the Company’s closing sales price
on May 1, 2024, and will vest over four years, with 25% of the
underlying shares vesting on the one-year anniversary of the
applicable vesting commencement date and the balance of the
underlying shares vesting monthly thereafter over 36 months,
subject to the new employees’ continued service relationship with
the Company through the applicable vesting dates. The stock options
are subject to the terms and conditions of the Company’s 2023
Inducement Option Plan and the terms and conditions of an
applicable stock option agreement covering the grant.
About Kura Oncology
Kura Oncology is a clinical-stage biopharmaceutical company
committed to realizing the promise of precision medicines for the
treatment of cancer. The Company’s pipeline consists of small
molecule drug candidates that target cancer signaling pathways.
Ziftomenib, a once-daily, oral drug candidate targeting the
menin-KMT2A protein-protein interaction, has received Breakthrough
Therapy Designation for the treatment of R/R NPM1-mutant AML. Kura
is currently enrolling patients in a Phase 2 registration-directed
trial of ziftomenib in NPM1-mutant R/R AML (KOMET-001). The Company
is also conducting a series of clinical trials to evaluate
ziftomenib in combination with current standards of care in
NPM1-mutant and KMT2A-rearranged newly diagnosed and R/R AML.
Tipifarnib, a potent and selective FTI, is currently in a Phase 1/2
trial in combination with alpelisib for patients with
PIK3CA-dependent HNSCC (KURRENT-HN). Kura is also evaluating
KO-2806, a next-generation FTI, in a Phase 1 dose-escalation trial
as a monotherapy and in combination with targeted therapies
(FIT-001). For additional information, please visit Kura’s website
at https://kuraoncology.com/ and follow us on X and LinkedIn.
Contacts
Investors:Pete De SpainExecutive Vice President, Investor
Relations &Corporate Communications(858)
500-8833pete@kuraoncology.com
Media:Alexandra WeingartenAssociate Director, Corporate
Communications & Investor Relations(858)
500-8822alexandra@kuraoncology.com
Kura Oncology (NASDAQ:KURA)
Historical Stock Chart
From Apr 2024 to May 2024
Kura Oncology (NASDAQ:KURA)
Historical Stock Chart
From May 2023 to May 2024