Verastem Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 06 2018 - 4:05PM
Business Wire
Verastem, Inc. (Nasdaq:VSTM), focused on discovering and
developing drugs to improve the survival and quality of life of
cancer patients, today announced the grant of stock options to six
new employees to purchase an aggregate of 219,000 shares of
Verastem’s common stock. The options were granted as an inducement
material to the employees’ acceptance of employment with Verastem
in accordance with Nasdaq Listing Rule 5635(c)(4). The options have
an exercise price equal to $3.55, the closing price of Verastem's
common stock as reported by Nasdaq on February 1, 2018. One-fourth
of the shares underlying each employee's option will vest on the
one-year anniversary of his or her date of hire, and thereafter, an
additional 6.25% of the shares subject to the options will vest at
the end of each successive three-month period, provided that the
employees continue to serve as an employee of or other service
provider to Verastem on each such vesting date.
About Verastem, Inc.
Verastem, Inc. (Nasdaq:VSTM) is a biopharmaceutical company
focused on discovering and developing drugs to improve outcomes for
patients with cancer. Verastem is currently developing duvelisib, a
dual inhibitor of PI3K-delta and PI3K-gamma, which has successfully
met its primary endpoint in a Phase 2 study in patients with
refractory indolent non-Hodgkin lymphoma and a Phase 3 clinical
trial in patients with relapsed or refractory chronic lymphocytic
leukemia/small lymphocytic lymphoma. In addition, Verastem is
developing the focal adhesion kinase inhibitor defactinib, which is
currently being evaluated in three separate clinical collaborations
in combination with immunotherapeutic agents for the treatment of
several different cancer types, including pancreatic cancer,
ovarian cancer, non-small cell lung cancer, and mesothelioma.
Verastem’s product candidates seek to treat cancer by modulating
the local tumor microenvironment, enhancing anti-tumor immunity,
and reducing cancer stem cells. For more information, please visit
www.verastem.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180206006245/en/
Verastem, Inc.Marianne M. Lambertson, 781-292-4273Vice
President, Corporate Communicationsmlambertson@verastem.com
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