Loxo Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 07 2018 - 4:30PM
Loxo Oncology, Inc. (Nasdaq:LOXO), a biopharmaceutical company
innovating the development of highly selective medicines for
patients with genetically defined cancers, today announced that
between April 23, 2018 and May 7, 2018, the Compensation Committee
of Loxo Oncology’s Board of Directors granted non-qualified stock
options to purchase an aggregate of 98,525 shares of its common
stock to thirteen new employees. The options were granted as an
inducement material to the employees’ acceptance of employment with
Loxo Oncology in accordance with Nasdaq Listing Rule 5635(c)(4).
Each option has an exercise price equal to the closing price of
Loxo Oncology’s common stock on the day of grant. Each option will
vest and become exercisable as to 25% of the shares on the first
anniversary of the recipient’s start date, and will vest and become
exercisable as to the remaining 2.08333% of the shares in 36 equal
monthly installments following the first anniversary, in each case,
subject to each such employee’s continued employment with Loxo
Oncology on such vesting dates.
About Loxo OncologyLoxo Oncology is a
biopharmaceutical company innovating the development of highly
selective medicines for patients with genetically defined cancers.
Our pipeline focuses on cancers that are uniquely dependent on
single gene abnormalities, such that a single drug has the
potential to treat the cancer with dramatic effect. We believe that
the most selective, purpose-built medicines have the highest
probability of maximally inhibiting the intended target, thereby
delivering best-in-class disease control and safety. Our management
team seeks out experienced industry partners, world-class
scientific advisors and innovative clinical-regulatory approaches
to deliver new cancer therapies to patients as quickly and
efficiently as possible. For more information, please visit the
company's website at www.loxooncology.com.
Contacts for Loxo Oncology, Inc.
Company: Lauren Cohen Director, Corporate Communications
lcohen@loxooncology.com
Investors:Peter RahmerEndurance Advisors,
LLC415-515-9763prahmer@enduranceadvisors.com
Media: Dan Budwick 1AB Media 973-271-6085 dan@1abmedia.com
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