Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
July 06 2020 - 7:00AM
Business Wire
Verastem, Inc. (Nasdaq:VSTM) (also known as Verastem Oncology),
a biopharmaceutical company committed to developing and
commercializing new medicines for patients battling cancer, today
announced the grant of options to purchase 20,000 shares of its
common stock to two new employees. The awards were granted as an
inducement material to the employees' acceptance of employment with
Verastem Oncology in accordance with Nasdaq Listing Rule
5635(c)(4). The options have an exercise price equal to $1.68 per
share, the closing price of Verastem Oncology's common stock as
reported by Nasdaq on July 1, 2020. The stock options that were
granted to the two new employees will vest at a rate of twenty-five
percent (25%) on the one year anniversary of the employee's date of
hire, with the remaining shares vesting quarterly over the next
three (3) years in equal quarterly amounts, provided the employees
continue to serve as employees of or other service providers to
Verastem Oncology on each such vesting date.
About Verastem Oncology
Verastem Oncology (Nasdaq: VSTM) is a commercial
biopharmaceutical company committed to the development and
commercialization of new medicines to improve the lives of patients
diagnosed with cancer. Our pipeline is focused on novel small
molecule drugs that inhibit critical signaling pathways in cancer
that promote cancer cell survival and tumor growth, including
phosphoinositide 3-kinase (PI3K), focal adhesion kinase (FAK) and
RAF/MEK inhibition.
Our first FDA approved product is available for the treatment of
patients with certain types of indolent non-Hodgkin’s lymphoma
(iNHL).
For more information, please visit www.verastem.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200706005039/en/
Investors:
John Doyle Vice President, Investor Relations & Finance +1
781-469-1546 jdoyle@verastem.com
Media:
Lisa Buffington Corporate Communications +1 781-292-4205
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