An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Agenus Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Agenus Inc. (AGEN) announces inducement awards to Manuel Duenas and Benny Johnson for their appointments as Head of Market Access and Senior Medical Director, respectively. The awards consist of options to purchase shares of Agenus common stock and restricted stock units, subject to vesting conditions.
Positive
None.
Negative
None.
LEXINGTON, Mass.--(BUSINESS WIRE)--
Agenus Inc. (“Agenus”) (Nasdaq: AGEN), a leader in discovering and developing novel immunological agents to treat various cancers, today announced that the Compensation Committee of Agenus’ Board of Directors granted, as of January 2, 2024 (“Grant Date”), inducement awards to Manuel Duenas and Benny Johnson in connection with their appointments as Head of Market Access and Senior Medical Director, respectively. The Compensation Committee approved the awards pursuant to Agenus' 2015 Inducement Equity Plan and in accordance with Nasdaq Listing Rule 5635(c)(4).
The awards to Manuel Duenas consist of (i) options to purchase 95,000 shares of Agenus common stock with a 10-year term, an exercise price equal to the closing price of Agenus' common stock on the Grant Date, and vesting over four years in equal annual installments and (ii) 110,000 restricted stock units that vest over three years in equal annual installments; provided that each equity award to Manuel Duenas is subject to him maintaining a service relationship with the company through the relevant vest date.
The awards to Benny Johnson consist of (i) options to purchase 24,500 shares of Agenus common stock with a 10-year term, an exercise price equal to the closing price of Agenus' common stock on the Grant Date, and vesting over four years in equal annual installments and (ii) 20,000 restricted stock units that vest over three years in equal annual installments; provided that each equity award to Benny Johnson is subject to him maintaining a service relationship with the company through the relevant vest date.
About Agenus
Agenus is a leading immuno-oncology company targeting cancer and infectious diseases with a comprehensive pipeline of immunological agents. The company’s mission is to expand patient populations benefiting from cancer immunotherapy through combination approaches, using a broad repertoire of antibody therapeutics, adoptive cell therapies (through MiNK Therapeutics) and adjuvants (through SaponiQx). Agenus is headquartered in Lexington, MA. For more information, visit www.agenusbio.com or @agenus_bio. Information that may be important to investors will be routinely posted on our website and social media channels.
What did Agenus announce regarding Manuel Duenas and Benny Johnson?
Agenus announced inducement awards to Manuel Duenas and Benny Johnson in connection with their appointments as Head of Market Access and Senior Medical Director, respectively.
What do the awards consist of?
The awards consist of options to purchase shares of Agenus common stock and restricted stock units.
What are the vesting conditions for the awards?
The options and restricted stock units vest over a period of three to four years in equal annual installments, subject to maintaining a service relationship with the company through the relevant vest date.
agenus is an immunology company discovering and developing novel checkpoint modulators, vaccines and adjuvants to treat cancer and other diseases. we are a dedicated group of scientists, researchers, biotechnologists, physicians, and businesspeople working together toward one goal: to discover and develop therapies that can unleash the innate power of the body’s immune system to treat and potentially cure hard-to-treat cancers and other diseases. our product candidates are designed to work by educating and activating the body’s immune system for a precise and potent attack on cancer. our strategy is to help unlock the potential of one of the most exciting breakthrough areas in cancer treatment in decades, and to develop single agent and combination immune-oncology therapies that can help save lives. our approaches are driven by three platform technologies, including: • our antibody platforms, including our proprietary retrocyte display™ and secant® technologies, and our antibody