Agenus Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
January 14 2016 - 4:01PM
Business Wire
Agenus Inc. (NASDAQ: AGEN), an immunotherapy company developing
innovative treatments for patients with cancer, announced that in
connection with its acquisition of XOMA Corporation’s antibody
manufacturing pilot plant it granted stock options and restricted
stock units to 28 new employees covering a total of 535,824 shares
of Agenus common stock. The awards were approved by Agenus’
compensation committee and granted as inducements material to the
new employees entering into employment with Agenus, as permitted
under NASDAQ Listing Rule 5635(c)(4).
The stock options are exercisable for an aggregate of 314,000
shares of Agenus common stock, with each stock option having an
exercise price equal to $4.46, the closing price per share of
Agenus’ common stock as reported by NASDAQ on January 4, 2016.
One-third of each option will vest on each of the one-year,
two-year and three-year anniversaries of the grant date, assuming
in each case the employee remains continuously employed by Agenus.
The restricted stock units cover a total of 221,824 shares of
Agenus common stock and vest in two equal installments based upon
the achievement of certain company milestones, assuming in each
case the employee remains continuously employed by Agenus through
such vesting date.
About Agenus
Agenus is an immunotherapy company focused on the discovery and
development of revolutionary new treatments that engage the body’s
immune system to benefit patients suffering from cancer. By
combining multiple powerful platforms, Agenus has established a
highly integrated approach to target identification and validation,
and for the discovery, development and manufacturing of monoclonal
antibodies that modulate targets of interest. The company’s broad
portfolio of novel checkpoint modulator and other immuno-modulatory
monoclonal antibodies, vaccines and adjuvants, work in combination
to provide the opportunity to create best-in-class therapeutic
regimens. Agenus’ heat shock protein-based vaccine, Prophage™, has
successfully completed Phase 2 studies in newly-diagnosed
glioblastoma. The company is collaborating with Merck and Incyte to
discover and develop multiple checkpoint modulators. For more
information, please visit www.agenusbio.com; information that
may be important to investors will be routinely posted on our
website.
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version on businesswire.com: http://www.businesswire.com/news/home/20160114005794/en/
Agenus:Agenus Inc.Michelle Linn,
774-696-3803michelle.linn@agenusbio.comorMedia:BMC
CommunicationsBrad Miles,
646-513-3125bmiles@bmccommunications.com
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