Cullinan Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
July 01 2022 - 3:37PM
Cullinan Oncology, Inc. (Nasdaq: CGEM) (“Cullinan”) today
announced that the compensation committee of the Company's Board of
Directors granted stock option awards to purchase an aggregate of
70,000 shares of its common stock to two employees outside Cullinan
Oncology, Inc’s 2021 Stock Option and Incentive Plan. The stock
options were granted as an inducement material to the individuals
entering into employment with Cullinan, in accordance with Nasdaq
Listing Rule 5635(c)(4).
Two employees received options to purchase an aggregate of
70,000 shares of Cullinan’s common stock on July 1, 2022 and have
an exercise price of $12.93, which is equal to the closing price of
Cullinan’s common stock on July 1, 2022. Each option has a ten-year
term and vests over four years, with 25 percent of the original
number of shares underlying each option vesting on the one-year
anniversary of the vesting commencement date and then in equal
installments for 36 months thereafter, subject to the employee's
continued service with Cullinan through the applicable vesting
dates.
About Cullinan OncologyCullinan Oncology,
Inc. (NASDAQ: CGEM) is a biopharmaceutical company dedicated
to creating new standards of care for patients with cancer. We
innovate without borders to find the most promising clinic-ready
cancer therapies, whether from our own discovery efforts or through
exceptional engagement with our academic and industry partners.
Anchored in a deep understanding of immuno-oncology and
translational cancer medicine, we leverage our scientific
excellence in small molecules and biologics to create
differentiated ideas, identify unique targets, and select the
optimal modality to develop transformative therapeutics across
cancer indications. Powered by our novel research model, we push
conventional boundaries from candidate selection to cancer
therapeutic, applying rigorous early experimentation to fast-track
only the most promising assets to the clinic and ultimately
commercialization. As a result, our diversified pipeline is
strategically built with assets that activate the immune system or
inhibit key oncogenic drivers across a wide range of modalities,
each with the potential to be the best or first in their class.Our
people possess deep scientific expertise, seek innovation openly,
and exercise creativity and urgency to deliver on our promise to
bring new therapeutic solutions to patients with cancer. Learn more
about our Company at www.cullinanoncology.com, and follow us
on LinkedIn and Twitter.
ContactsInvestor RelationsChad Messer+1
203.464.8900cmesser@cullinanoncology.com
MediaRose Weldon+1 215.801.7644rweldon@cullinanoncology.com
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