Eterna Therapeutics Grants New President and CEO Sanjeev Luther Inducement Award Under Nasdaq Listing Rule 5635 (c)(4)
03 Enero 2024 - 3:15PM
Eterna Therapeutics Inc. (Nasdaq: ERNA) (“Eterna” or the
“Company”), a life science company committed to realizing the
potential of mRNA cell engineering to provide patients with
transformational new medicines, today announced that Eterna’s Board
of Directors granted a non-qualified stock option to purchase
1,685,218 shares of Eterna’s common stock (the “Stock Option”) to
its new President and Chief Executive Officer, Sanjeev Luther,
effective January 1, 2024, the first date of his employment. The
Stock Option was granted pursuant to the terms of Mr. Luther’s
employment agreement and as a material inducement to his joining
Eterna as President and Chief Executive Officer in accordance with
Nasdaq Listing Rule 5635(c)(4).
The Stock Option has an exercise price of $1.80 per share, which
is equal to the fair market value of Eterna’s common stock on The
Nasdaq Capital Market on the date of the Stock Option grant. The
Stock Option will vest over four years, with 25% of the shares
vesting on the first anniversary of the grant date and the
remaining 75% of the shares vesting in equal monthly installments
over the three years thereafter. Vesting of the stock options is
subject to Mr. Luther’s continued service to Eterna on each vesting
date.
About Eterna Therapeutics Inc.Eterna
Therapeutics is a life science company committed to realizing the
potential of mRNA cell engineering to provide patients with
transformational new medicines. Eterna has in-licensed a portfolio
of over 130 patents covering key mRNA cell engineering
technologies, including technologies for mRNA cell reprogramming,
mRNA gene editing, the NoveSlice™ and UltraSlice™ gene-editing
proteins, and the ToRNAdo™ mRNA delivery system from Factor
Bioscience. NoveSlice™, UltraSlice™, and ToRNAdo™ are trademarks of
Factor Bioscience. For more information, please
visit www.eternatx.com.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, which are intended
to be covered by the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are any statements that are not statements of historical
fact and may be identified by terminology such as “believe,”
“could,” “estimate,” “anticipate,” “expect,” “plan,” “possible,”
“potential,” “project,” “will” or other similar words and the
negatives of such words. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance. Actual
results could differ materially from those stated or implied in any
forward-looking statement as a result of various factors,
including, but not limited to, uncertainties related to: (i) the
evolution of Eterna’s business model into a platform company
focused on mRNA, induced pluripotent stem (iPS) cell and gene
editing technologies; (ii) Eterna’s ability to successfully,
cost-effectively and efficiently develop its technology and
products; (iii) Eterna’s ability to successfully commence clinical
trials of any products on a timely basis or at all; (iv) Eterna’s
ability to successfully fund and manage the growth of its
development activities; and (v) Eterna’s ability to obtain
regulatory approvals of its products for commercialization. You
should not rely upon forward-looking statements as predictions of
future events. The forward-looking statements made in this
communication speak only as of the date on which they were made,
and Eterna does not undertake any obligation to update the
forward-looking statements contained herein to reflect events that
occur or circumstances that exist after the date hereof, except as
required by applicable law. Factors that may cause Eterna’s actual
results to differ from those expressed or implied in
forward-looking statements contained in this press release are more
fully disclosed in Eterna’s periodic public filings with the U.S.
Securities and Exchange Commission, particularly under the heading
“Risk Factors” in Eterna’s Annual Report on Form 10-K for the year
ended December 31, 2022, as well as under similar headings in
Eterna’s subsequently filed Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K.
Investor Relations
Contact:investors@eternatx.com
Media Contact:EternaPR@westwicke.com
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