Aligos Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Aligos Therapeutics (ALGS) has announced an inducement grant of non-qualified stock options to a newly hired employee. The grant, issued on December 10, 2024, allows for the purchase of 5,500 shares of company stock. The exercise price equals the closing price of Aligos' common stock on the grant date. The shares will vest over four years, with 25% vesting after the first year and the remainder vesting in equal monthly installments, contingent on continued employment. The grant was made under Aligos' 2024 Inducement Plan, exclusively used for equity awards to new hires, in compliance with Nasdaq Listing Rule 5635(c)(4).

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SOUTH SAN FRANCISCO, Calif., Dec. 13, 2024 (GLOBE NEWSWIRE) -- 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 a non-qualified stock option to purchase an aggregate of 5,500 shares of the Company’s stock (the “Inducement Grant”) to a newly hired employee on December 10, 2024 (the “Grant Date”), in connection with the commencement of employment.

The Inducement Grant was granted pursuant to Aligos’ 2024 Inducement Plan (the “Plan”) as an inducement material to this individual 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 Grant has an exercise price per share equal to the closing price of Aligos’ common stock on the Grant Date. The shares subject to the Inducement Grant 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 diseases with high unmet medical need such as chronic hepatitis B infection (CHB), metabolic dysfunction-associated steatohepatitis (MASH), 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’s mission to improve patient outcomes by developing best-in-class molecules 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 November 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 Tarazi
Vice President, Investor Relations & Corporate Communications
+1 (650) 910-0427
jtarazi@aligos.com

FAQ

What are the vesting terms for Aligos Therapeutics' December 2024 inducement grant?

The inducement grant vests over four years, with 25% vesting on the first anniversary and the remainder vesting in equal monthly installments, subject to continued employment.

How many shares were included in Aligos Therapeutics' December 2024 inducement grant?

The inducement grant included options to purchase 5,500 shares of Aligos Therapeutics stock.

What is the exercise price for ALGS December 2024 inducement grant?

The exercise price equals the closing price of Aligos' common stock on December 10, 2024 (the Grant Date).

Under which plan was the ALGS December 2024 inducement grant issued?

The grant was issued under Aligos' 2024 Inducement Plan, which is exclusively used for equity awards to individuals not previously employed by the company.