Adicet Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
January 31 2025 - 5:06PM
Business Wire
Adicet Bio, Inc. (Nasdaq: ACET), a clinical stage biotechnology
company discovering and developing allogeneic gamma delta T cell
therapies for autoimmune diseases and cancer, today announced it
granted inducement awards on January 31, 2025.
Two individuals were hired by Adicet in January 2025. In the
aggregate, Adicet granted new hires non-qualified stock options to
purchase 28,600 shares of Adicet’s common stock with an exercise
price of $0.89 per share, the closing price of Adicet’s common
stock as reported by Nasdaq on January 31, 2025. One-fourth of the
shares underlying each employee’s option will vest on the one-year
anniversary of each recipient’s start date and thereafter the
remaining three-fourths of the shares underlying each employee’s
option will vest in thirty-six substantially equal monthly
installments, such that the shares underlying the option granted to
each employee will be fully vested on the fourth anniversary of the
recipient’s start date, in each case, subject to each such
employee’s continued employment with Adicet on such vesting
dates.
In addition, effective as of January 31, 2025, the board of
directors approved an inducement award of non-statutory stock
options to Julie Maltzman, M.D., Adicet’s newly appointed Chief
Medical Officer, to purchase 750,000 shares of Adicet’s common
stock with an exercise price of $0.89 per share, the closing price
of Adicet’s common stock as reported by Nasdaq on January 31, 2025.
One-fourth of the shares underlying Dr. Maltzman’s option will vest
on the one-year anniversary of December 7, 2024 and thereafter the
remaining three-fourths of the shares underlying the option will
vest in thirty-six substantially equal monthly installments, such
that the shares underlying the option granted to Dr. Maltzman will
be fully vested on the fourth anniversary of December 7, 2024,
subject to Dr. Maltzman’s continued employment with Adicet on each
such vesting date. The options are subject to the terms and
conditions of the award agreement covering the grant.
All of the above-described awards were granted outside of
Adicet’s stockholder-approved equity incentive plans pursuant to
Adicet’s 2022 Inducement Plan (the Inducement Plan), which was
adopted by the board of directors in January 2022 and subsequently
amended in January 2023. The awards were authorized by a majority
of Adicet’s independent directors or the compensation committee of
the board of directors, which is comprised solely of independent
directors, as a material inducement to the employees entering into
employment with Adicet in accordance with Nasdaq Listing Rule
5635(c)(4).
About Adicet Bio, Inc.
Adicet Bio, Inc. is a clinical stage biotechnology company
discovering and developing allogeneic gamma delta T cell therapies
for autoimmune diseases and cancer. Adicet is advancing a pipeline
of “off-the-shelf” gamma delta T cells, engineered with chimeric
antigen receptors (CARs), to facilitate durable activity in
patients. For more information, please visit our website at
https://www.adicetbio.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250131113740/en/
Adicet Bio, Inc. Investor and Media Contacts
Investors: Anne Bowdidge abowdidge@adicetbio.com
Janhavi Mohite Precision AQ 212-362-1200
janhavi.mohite@precisionaq.com
Media: Kerry Beth Daly kbdaly@adicetbio.com
Adicet Bio (NASDAQ:ACET)
Historical Stock Chart
From Jan 2025 to Feb 2025
Adicet Bio (NASDAQ:ACET)
Historical Stock Chart
From Feb 2024 to Feb 2025
