Aligos Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 11 2024 - 8:00AM
Aligos Therapeutics, Inc. (Nasdaq: ALGS, “Aligos”, “Company”), a
clinical stage biopharmaceutical company focused on improving
patient outcomes through best-in-class therapies for liver and
viral diseases, today announced that the Compensation Committee of
the Company’s Board of Directors granted non-qualified stock
options to purchase an aggregate of 95,000 shares of the Company’s
stock (the “Inducement Grants”) to newly hired employees on October
8, 2024 (the “Grant Date”), in connection with the commencement of
employment. Included in the aggregate number is the grant of an
option to purchase 75,000 shares to Dr. Hardean Achneck, in
connection with the commencement of his role as Chief Medical
Officer.
The Inducement Grants were granted pursuant to
Aligos’ 2024 Employment Inducement Award Plan (the “Plan”) as an
inducement material to entering employment in accordance with
Nasdaq Listing Rule 5635(c)(4). The Plan is used exclusively for
the grant of equity awards to individuals who were not previously
employed by Aligos.
The Inducement Grants have an exercise price per
share equal to the closing price of Aligos’ common stock on the
Grant Date. The shares subject to the Inducement Grants will vest
over a four-year period, with 25% vesting on the first anniversary
of the Grant Date and the remainder vesting in equal monthly
installments, subject to the continued employment through the
applicable vesting dates.
About Aligos
Aligos Therapeutics, Inc. (NASDAQ: ALGS) is a
clinical stage biopharmaceutical company founded with the mission
to improve patient outcomes by developing best-in-class therapies
for the treatment of liver and viral diseases. Aligos applies its
science driven approach and deep R&D expertise to advance its
purpose-built pipeline of therapeutics for metabolic
dysfunction-associated steatohepatitis (MASH) and viruses with high
unmet medical need such as hepatitis B and coronaviruses.
For more information, please visit www.aligos.com
or follow us on LinkedIn or X.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Any statements in this press release
that are not historical facts may be considered “forward-looking
statements,” including without limitation, statements regarding the
Aligos’ mission to improve patient outcomes by developing
best-in-class therapies for the treatment of liver and viral
diseases. Such forward-looking statements are subject to
substantial risks and uncertainties that could cause actual results
to differ materially from those anticipated in the forward-looking
statements. Such risks and uncertainties include, without
limitation, risks and uncertainties inherent in the drug
development process, including Aligos’ clinical stage of
development, the process of designing and conducting clinical
trials and the regulatory approval processes. For a further
description of the risks and uncertainties that could cause actual
results to differ from those anticipated in these forward-looking
statements, as well as risks relating to the business of Aligos in
general, see Aligos’ Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission on August 6, 2024 and its future
periodic reports to be filed or submitted with the Securities and
Exchange Commission. Except as required by law, Aligos undertakes
no obligation to update any forward-looking statements to reflect
new information, events or circumstances, or to reflect the
occurrence of unanticipated events.
Aligos Therapeutics
Contact Jordyn TaraziVice
President, Investor Relations & Corporate Communications+1
(650) 910-0427jtarazi@aligos.com
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