LEXINGTON, Mass., Jan. 5, 2024
/PRNewswire/ -- Curis, Inc. (NASDAQ: CRIS), a biotechnology company
focused on the development of innovative therapeutics for the
treatment of cancer, today announced that on January 2, 2024, the independent Compensation
Committee of the Board of Directors of Curis approved the grant of
inducement stock options to purchase a total of 5,800 shares of
Curis common stock to a new employee, with a grant date of
January 2, 2024 (the "Q1 2024
Inducement Grant").
The Q1 2024 Inducement Grant has an exercise price per share
equal to the closing price of the Company's common stock on
January 2, 2024. The stock option has
a 10 year term and vests over four years, with 25% of the original
number of shares underlying the award vesting on the first
anniversary of the employee's date of hire and an additional 6.25%
of the original number of shares underlying the award vesting on
each successive three-month period thereafter, subject to the
employee's continued service with the Company through the
respective vesting dates. The stock option was granted as an
inducement equity award outside of the Company's Fourth Amended and
Restated 2010 Stock Incentive Plan and was made as an inducement
material to the employee's acceptance of employment with the
Company.
About Curis, Inc.
Curis is a biotechnology company focused on the development of
emavusertib, an orally available, small molecule IRAK4 inhibitor.
Emavusertib is currently undergoing testing in the Phase 1/2
TakeAim Lymphoma study in patients with hematologic malignancies,
such as non-Hodgkin's lymphoma and other B cell malignancies in
combination with the BTK inhibitor ibrutinib, and as a monotherapy
in the Phase 1/2 TakeAim Leukemia study in patients with acute
myeloid leukemia and myelodysplastic syndrome, for which it has
received Orphan Drug Designation from the U.S. Food and Drug
Administration. Curis, through its 2015 collaboration with
Aurigene, has the exclusive license to emavusertib (CA-4948). Curis
licensed its rights to Erivedge® to Genentech, a member of the
Roche Group, under which they are commercializing Erivedge® for the
treatment of advanced basal cell carcinoma. For more
information, visit Curis's website at www.curis.com.
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SOURCE Curis, Inc.