Imunon Reports Inducement Grants under NASDQ Listing Rule 5646(c)(4)
2023年6月27日 - 6:00AM
Imunon, Inc.
(NASDAQ: IMNN), a clinical-stage
drug development company focused on DNA-based immunotherapy and
next-generation vaccines, today announced that the Compensation
Committee of the Company’s Board of Directors approved the grant of
(i) inducement stock options (the "Inducement Option Grants") to
purchase a total of 5,000 shares of common stock and (ii)
restricted stock grants (the "Inducement Stock Grants") totaling
1,000 shares of common stock as a material inducement to the
employment to one individual hired by Imunon during the second
quarter of 2023. The equity awards were approved in accordance with
Nasdaq Listing Rule 5635(c)(4).
The Inducement Option Grants have an exercise
price per share equal to $1.28, which is equal to the closing price
of Imunon's common stock as reported by Nasdaq on June 26, 2023.
The Inducement Option Grants vest in quarters over four years with
the vesting starting on the one-year anniversary of each employee’s
first day of employment with the Company and thereafter vest in
three additional installments so all Inducement Option Grants will
be fully vested and exercisable as of June 26, 2027, subject to
each employee’s continued service relationship with the Company on
each such date. Each Inducement Option Grant has a ten-year
term.
Each of the Inducement Stock Grants will vest on
the one-year anniversary of each employee’s first date of
employment with the Company and are subject to each such employee’s
continued service relationship with the Company on such vesting
date.
About IMUNON
IMUNON is a fully integrated, clinical stage
biotechnology company focused on advancing a portfolio of
innovative treatments that harness the body’s natural mechanisms to
generate safe, effective and durable responses across a broad array
of human diseases, constituting a differentiating approach from
conventional therapies.
IMUNON has two platform technologies: the
TheraPlas modality for the development of immunotherapies and other
anti-cancer nucleic acid-based therapies, and the PLACCINE modality
for the development of nucleic acid vaccines for infectious
diseases and cancer. The company’s lead clinical program, IMNN-001,
is a DNA-based immunotherapy for the localized treatment of
advanced ovarian cancer currently in Phase 2 development. IMNN-001
works by instructing the body to produce safe and durable levels of
powerful cancer-fighting molecules, such as interleukin-12 and
interferon gamma, at the tumor site. Additionally, the company is
conducting preclinical proof-of-concept studies on a nucleic acid
vaccine candidate targeting the SARS-CoV-2 virus to validate its
PLACCINE platform. IMUNON’s platform technologies are based on the
delivery of nucleic acids with novel synthetic delivery systems
that are independent of viral vectors or devices. IMUNON will
continue to leverage these platforms and to advance the
technological frontier of nucleic acid-based products to better
serve patients with difficult-to-treat conditions. For more
information on IMUNON, visit www.imunon.com.
Forward-Looking Statements
IMUNON wishes to inform readers that
forward-looking statements in this news release are made pursuant
to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Readers are cautioned that such
forward-looking statements involve risks and uncertainties
including, without limitation, unforeseen changes in the course of
research and development activities and in clinical trials; the
uncertainties of and difficulties in analyzing interim clinical
data; the significant expense, time and risk of failure of
conducting clinical trials; the need for IMUNON to evaluate its
future development plans; possible acquisitions or licenses of
other technologies, assets or businesses; possible actions by
customers, suppliers, competitors or regulatory authorities; and
other risks detailed from time to time in IMUNON’s periodic reports
and prospectuses filed with the Securities and Exchange Commission.
IMUNON assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events, new information or otherwise.
Contacts:
Jeffrey W. ChurchExecutive Vice President, CFO
and Corporate Secretary609-482-2455jchurch@imunon.com
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Imunon (NASDAQ:IMNN)
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Imunon (NASDAQ:IMNN)
過去 株価チャート
から 5 2023 まで 5 2024