Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
19 Octubre 2023 - 3:30PM
Business Wire
Geron Corporation (Nasdaq: GERN), a late-stage clinical
biopharmaceutical company, today reported that it has granted
non-statutory stock options to purchase an aggregate of 401,220
shares of Geron common stock as inducements to newly hired
employees in connection with commencement of employment with the
Company.
The stock options were granted on October 18, 2023 at an
exercise price of $1.77 per share, which is equal to the closing
price of Geron common stock on the date of grant. Stock options
representing an aggregate of 396,000 shares have a 10-year term and
vest over four years, with 12.5% of the shares underlying the
options vesting on the six-month anniversary of commencement of
employment for the respective employees and the remaining shares
vesting over the following 42 months in equal installments of whole
shares, subject to continued employment with Geron through the
applicable vesting dates. Stock options representing an aggregate
of 5,220 shares have a 10-year term and vest in full upon
achievement of a certain regulatory milestone, subject to continued
employment with Geron through the applicable vesting date. All of
the stock options were granted as material inducement to employment
in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject
to the terms and conditions of the stock option agreements covering
the grants and Geron’s 2018 Inducement Award Plan, which was
adopted December 14, 2018 and provides for the granting of stock
options to new employees.
About Geron
Geron is a late-stage clinical biopharmaceutical company
pursuing therapies with the potential to extend and enrich the
lives of patients living with hematologic malignancies. Our
first-in-class investigational telomerase inhibitor, imetelstat,
harnesses Nobel Prize-winning science in a treatment that may alter
the underlying drivers of disease. The New Drug Application (NDA)
for imetelstat in lower risk myelodysplastic syndromes (LR MDS),
based on the results from the Phase 3 IMerge clinical trial, is
currently under review by the United States Food and Drug
Administration (FDA) with a Prescription Drug User Fee Act (PDUFA)
target action date of June 16, 2024. In addition, an MAA is now
under regulatory review by the European Committee for Medicinal
Products for Human Use (CHMP) for the same proposed indication.
Furthermore, Geron currently has an ongoing pivotal Phase 3
clinical trial evaluating imetelstat in relapsed/refractory
myelofibrosis (MF). To learn more, visit www.geron.com or follow us
on LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20231019884086/en/
Aron Feingold Vice President, Investor Relations and Corporate
Communications
Kristen Kelleher Senior Manager, Investor Relations
investor@geron.com media@geron.com
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