TCR² Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
March 04 2022 - 4:15PM
TCR2 Therapeutics Inc. (Nasdaq: TCRR), a clinical-stage cell
therapy company with a pipeline of novel T cell therapies for
patients suffering from solid tumors, today announced that on
February 28, 2022 (the “Grant Date”), the Compensation Committee of
the Board of Directors of TCR2’s approved the grant of inducement
stock options covering an aggregate of 15,200 shares of TCR2’s
common stock to 3 new non-executive employees. The stock options
were granted as an inducement material to the employees’ acceptance
of employment with TCR2 in accordance with Nasdaq Listing Rule
5635(c)(4).
The stock options have an exercise price per
share equal to $2.71, which represents the closing market price on
the Nasdaq Stock Market of TCR2’s common stock on the Grant Date.
The stock options have a ten-year term and will vest over a
four-year period, with 25% of the options vesting on the first
anniversary of the employees’ date of hire, and the remaining 75%
of the options vesting in equal monthly installments for three
years thereafter, subject to the employees’ continued employment
with TCR2 on such vesting dates. The options are subject to the
terms and conditions of TCR2’s 2022 Inducement Plan and the stock
option agreement covering the grant.
About
TCR2
Therapeutics
TCR2 Therapeutics Inc. is a
clinical-stage cell therapy company developing a pipeline of novel
T cell therapies for patients suffering from solid
tumors. The company is focused on the discovery and
development of product candidates against novel and complex targets
utilizing its proprietary T cell receptor (TCR) Fusion
Construct T cells (TRuC®-T cells). The TRuC platform is
designed to specifically recognize and kill cancer cells by
harnessing signaling from the entire TCR, independent of human
leukocyte antigens (HLA). For more information about TCR2, please
visit www.tcr2.com.
Forward-looking
Statements
This press release contains forward-looking
statements, including statements pertaining to the continued
service of employees and future vesting of inducement grants. Such
forward-looking statements are subject to risks and uncertainties
and cannot be guaranteed. Forward-looking statements in this press
release should be evaluated together with the many risks and
uncertainties that affect TCR2’s business, particularly those
identified in the risk factors discussion in TCR2’s Annual Report
on Form 10-K, as updated by our subsequent Quarterly Reports on
Form 10-Q, Current Reports on Form 8-K and other filings with the
Securities and Exchange Commission.
Moreover, except as required by law, neither
TCR2 nor any other person assumes responsibility for the accuracy
and completeness of the forward-looking statements included in this
press release. Any forward-looking statement included in this press
release speaks only as of the date on which it was made. We
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by law.
Investor and
Media Contact:Carl MauchSenior
Director, Investor Relations and Corporate Communications(617)
949-5667carl.mauch@tcr2.com
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