Repare Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
May 22 2023 - 7:00AM
Business Wire
Repare Therapeutics Inc., (Nasdaq: RPTX), (“Repare”, or “the
Company”), a leading clinical-stage precision oncology company,
today announced that, in connection with the appointment of Daniel
Belanger as the Company’s EVP, Human Resources, the Company granted
Mr. Belanger an inducement stock option to purchase an aggregate of
240,000 of the Company’s common shares. The award was approved by
the Compensation Committee of the Company’s Board of Directors and
was granted outside of the Company’s 2020 Equity Incentive Plan,
with a grant date of May 18, 2023, as an inducement material to Mr.
Belanger entering into employment with Repare, in accordance with
Nasdaq Listing Rule 5635(c)(4).
The stock option has a ten-year term and an exercise price of
$9.83 per share, the average of the daily volume-weighted average
trading prices for the Company’s common shares on each of the five
trading days immediately preceding the grant date. The award will
vest over four years, with 25% of the underlying shares vesting on
the one-year anniversary of the applicable employment start date
and the remaining underlying shares vesting in substantially equal
monthly installments thereafter on the same day of the month as the
vesting commencement date, subject to Mr. Belanger’s continued
employment with Repare through the applicable vesting date. The
stock option is subject to the terms of the stock option agreement
pursuant to which the award was granted.
About Repare Therapeutics Inc.
Repare Therapeutics is a leading clinical-stage precision
oncology company enabled by its proprietary synthetic lethality
approach to the discovery and development of novel therapeutics.
The Company utilizes its genome-wide, CRISPR-enabled SNIPRx®
platform to systematically discover and develop highly targeted
cancer therapies focused on genomic instability, including DNA
damage repair. The Company’s pipeline includes RP-6306, a PKMYT1
inhibitor currently in Phase 1 clinical development; camonsertib
(also known as RP-3500 or RG6526), a potential leading ATR
inhibitor currently in Phase 1/2 clinical development and partnered
with Roche; a preclinical Polθ inhibitor program; as well as
several undisclosed preclinical programs, including RP-1664. For
more information, please visit reparerx.com.
SNIPRx® is a registered trademark of Repare Therapeutics
Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230522005366/en/
Repare Contact: Robin Garner Executive Director and Head
of Investor Relations Repare Therapeutics Inc.
investor@reparerx.com Investors: Matthew DeYoung Argot
Partners repare@argotpartners.com Media: David Rosen Argot
Partners david.rosen@argotpartners.com 212-600-1902
Repare Therapeutics (NASDAQ:RPTX)
Historical Stock Chart
From Apr 2024 to May 2024
Repare Therapeutics (NASDAQ:RPTX)
Historical Stock Chart
From May 2023 to May 2024