Mersana Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
June 03 2022 - 4:05PM
Mersana Therapeutics, Inc. (NASDAQ:MRSN), a clinical-stage
biopharmaceutical company focused on discovering and developing a
pipeline of antibody-drug conjugates (ADCs) targeting cancers in
areas of high unmet medical need, today announced that on May 1,
2022, an authorized sub-committee of the Compensation Committee of
the Board of Directors of Mersana granted inducement awards,
consisting of stock options to purchase an aggregate of 104,475
shares of its common stock and restricted stock unit awards (RSUs)
to acquire an aggregate of 72,600 shares of its common stock, to 11
new employees whose employment commenced in May 2022. The awards
were granted pursuant to terms and conditions fixed by the
Compensation Committee and as an inducement material to each new
employee entering employment with Mersana in accordance with Nasdaq
Listing Rule 5635(c)(4).
The option awards have an exercise price of $3.21 per share,
which is equal to the closing price of Mersana’s common stock on
June 1, 2022. Each option has a 10-year term and will vest over a
period of four years, with 25% of the shares vesting on the
one-year anniversary of the commencement of the employee’s
employment and the remainder vesting in equal quarterly
installments over the following three years, subject to the
applicable employee’s continued service with Mersana on each such
vesting date. The options are subject to the terms and conditions
of Mersana’s 2022 Inducement Stock Incentive Plan and the terms and
conditions of a stock option agreement covering each grant.
The RSUs will vest in four equal annual installments starting
May 15, 2023, subject to the applicable employee’s continued
service with Mersana on each such vesting date. The RSUs are
subject to the terms and conditions of Mersana’s 2022 Inducement
Stock Incentive Plan and the terms and conditions of an RSU
agreement covering each grant.
About Mersana TherapeuticsMersana Therapeutics
is a clinical-stage biopharmaceutical company using its
differentiated and proprietary ADC platforms to rapidly develop
novel ADCs with optimal efficacy, safety and tolerability to
meaningfully improve the lives of people fighting cancer. Mersana’s
lead product candidate, upifitamab rilsodotin (UpRi), is a
Dolaflexin ADC targeting NaPi2b and is being studied in UPLIFT, a
single-arm registrational trial in patients with platinum-resistant
ovarian cancer, as well as in UPGRADE, a Phase 1/2 umbrella trial
evaluating UpRi in combination with other ovarian cancer therapies.
Mersana’s early-stage programs include XMT-1660, a Dolasynthen ADC
targeting B7-H4, and XMT-2056, a STING-agonist ADC developed using
the company’s Immunosynthen platform and targeting a novel epitope
of human epidermal growth factor receptor 2 (HER2). In addition,
multiple partners are using Mersana’s platforms to advance their
ADC pipelines. Mersana Therapeutics was recently named among the
2021 Top Places to Work in Massachusetts by The Boston Globe.
Mersana routinely posts information that may be useful to investors
on the “Investors and Media” section of its website at
www.mersana.com.
Contact:Jason
Fredette617-498-0020jason.fredette@mersana.com
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