Replimune Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 04 2024 - 8:00AM
Replimune Group, Inc. (NASDAQ: REPL), a clinical stage
biotechnology company pioneering the development of a novel class
of oncolytic immunotherapies, today announced the grant of
inducement equity awards to Carolyn Trott, the Company’s newly
appointed Senior Vice President, Quality Assurance.
The inducement awards consist of a non-qualified stock option to
purchase 75,000 shares of the Company's common stock and restricted
stock units representing 50,000 shares of the Company's common
stock. The option has an exercise price of $7.73 per
share, which is equal to the closing price of the Company's common
stock on the date of grant. The option has a 10-year term and will
vest over four years, with 25% of the underlying shares vesting on
the one-year anniversary of the grant date and the remainder
vesting monthly for three years thereafter. The restricted stock
units vest in approximately four equal annual installments
beginning on May 15, 2025.
The inducement awards were granted under the Company's
previously approved Employment Commencement Incentive Plan and were
approved by the compensation committee of the Company's board of
directors in reliance on the employment inducement exception under
Nasdaq Listing Rule 5635(c)(4). While the inducement awards were
granted outside of Replimune's 2018 Equity Incentive Plan, the
awards will have terms and conditions consistent with those set
forth under the plan.
About Replimune Replimune
Group, Inc., headquartered in Woburn, MA, was founded in 2015
with the mission to transform cancer treatment by pioneering the
development of a novel portfolio of oncolytic immunotherapies.
Replimune’s proprietary RPx platform is based on a potent HSV-1
backbone intended to maximize immunogenic cell death and the
induction of a systemic anti-tumor immune response. The RPx
platform is designed to have a unique dual local and systemic
activity consisting of direct selective virus-mediated killing of
the tumor resulting in the release of tumor derived antigens and
altering of the tumor microenvironment to ignite a strong and
durable systemic response. The RPx product candidates are expected
to be synergistic with most established and experimental cancer
treatment modalities, leading to the versatility to be developed
alone or combined with a variety of other treatment options. For
more information, please visit www.replimune.com.
Forward Looking Statements This press
release contains forward looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including
statements regarding our expectations about the design and
advancement of our clinical trials, the timing and sufficiency of
our clinical trial outcomes to support potential approval of any of
our product candidates, our goals to develop and commercialize our
product candidates, patient enrollments in our existing and planned
clinical trials and the timing thereof, and other statements
identified by words such as “could,” “expects,” “intends,” “may,”
“plans,” “potential,” “should,” “will,” “would,” or similar
expressions and the negatives of those terms. Forward-looking
statements are not promises or guarantees of future performance,
and are subject to a variety of risks and uncertainties, many of
which are beyond our control, and which could cause actual results
to differ materially from those contemplated in such
forward-looking statements. These factors include risks related to
our limited operating history, our ability to generate positive
clinical trial results for our product candidates, the costs and
timing of operating our in-house manufacturing facility, the timing
and scope of regulatory approvals, the availability of combination
therapies needed to conduct our clinical trials, changes in laws
and regulations to which we are subject, competitive pressures, our
ability to identify additional product candidates, political and
global macro factors including the impact of the coronavirus as a
global pandemic and related public health issues and the
Russian-Ukrainian and Israel-Hamas political and military
conflicts, and other risks as may be detailed from time to time in
our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q
and other reports we file with the Securities and Exchange
Commission. Our actual results could differ materially from the
results described in or implied by such forward-looking statements.
Forward-looking statements speak only as of the date hereof, and,
except as required by law, we undertake no obligation to update or
revise these forward-looking statements.
Investor InquiriesChris BrinzeyICR
Westwicke339.970.2843chris.brinzey@westwicke.com
Media InquiriesArleen
GoldenbergReplimune917.548.1582media@replimune.com
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