CytomX Therapeutics Announces New Employment Inducement Grants
14 Abril 2021 - 3:01PM
CytomX Therapeutics, Inc. (Nasdaq: CTMX), a clinical-stage,
oncology-focused biopharmaceutical company pioneering a novel class
of investigational conditionally activated antibody therapeutics
based on its Probody® technology platform, today announced that on
April 1, 2021, the Company granted a new employee an option to
purchase a total of 120,000 shares of the Company’s common stock at
an exercise price per share equal to $7.87, which was the closing
trading price on April 1, 2021, the date of the grant. In addition,
on April 12, 2021, the Company also granted another new employee an
option to purchase a total of 275,000 shares of the Company’s
common stock at an exercise price per share equal to $6.74, which
was the closing trading price on April 12, 2021, the date of the
grant.
The stock options were granted pursuant to the
Company’s 2019 Employment Inducement Incentive Plan, which was
approved by the Company’s board of directors in August 2020 under
Rule 5635(c)(4) of The Nasdaq Global Market for equity grants to
induce new employees to enter into employment with the Company.
About CytomX
TherapeuticsCytomX is a clinical-stage, oncology-focused
biopharmaceutical company with a vision of transforming lives with
safer, more effective therapies. We are developing a novel class of
investigational conditionally activated antibody therapeutics,
based on our Probody® technology platform, for the treatment of
cancer. CytomX has strategic drug discovery and development
collaborations with AbbVie, Amgen, Astellas, and Bristol Myers
Squibb.
Probody therapeutics are conditionally activated
antibodies designed to remain inactive until they are activated by
proteases in the tumor microenvironment. As a result, Probody
therapeutics are intended to bind selectively to tumors and
decrease binding to healthy tissue, to minimize toxicity and
potentially create safer, more effective therapies. As leaders in
the field, our innovative technology is designed to turn previously
undruggable targets into druggable targets and to enable more
effective combination therapies. CytomX and its partners, comprised
of leading biotechnology and pharmaceutical companies, have
developed a robust pipeline of potential first-in-class therapeutic
candidates against novel, difficult to drug targets and potential
best-in-class immunotherapeutic candidates against clinically
validated targets. The CytomX clinical-stage pipeline comprises
five assets, four of which are in Phase 2 clinical studies.
First-in-class product candidates against previously undruggable
targets include a CD166-targeting conditionally activated
antibody-drug conjugate wholly owned by CytomX (praluzatamab
ravtansine, CX-2009) and a CD71-targeting conditionally activated
antibody-drug conjugate partnered with AbbVie (CX-2029). CD166 and
CD71 are among cancer targets that are considered to be
inaccessible to conventional antibody-drug conjugates due to their
presence on many healthy tissues. The CytomX clinical-stage
pipeline also includes cancer immunotherapeutic candidates against
validated targets such as the CTLA-4-targeting Probodies,
BMS-986249 and BMS-986288, partnered with Bristol Myers Squibb, and
our wholly-owned conditionally activated anti-PD-L1 antibody,
pacmilimab (CX-072). For additional information about CytomX
Therapeutics, visit www.cytomx.com and follow us on LinkedIn and
Twitter.
Probody is a U.S. registered trademark of CytomX
Therapeutics, Inc.
CytomX Contact:Chau Cheng, PhD
MBAVP, Investor Relations & Corp.
Communicationsccheng@cytomx.com Direct: (650) 273-4999
Investor and Media
Contact:Stern Investor RelationsStephanie
Ascherstephanie.ascher@sternir.com 212-362-1200
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