Chimerix Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Chimerix (NASDAQ:CMRX) announced that its Compensation Committee granted inducement stock options to a new employee on March 2, 2025. The award consists of non-statutory stock options to purchase up to 70,000 shares of common stock at an exercise price equal to Chimerix's closing trading price on the grant date.

The stock options have a 10-year term with a four-year vesting schedule: 25% vests on the one-year employment anniversary, with the remaining 75% vesting in equal monthly installments over the following three years. While subject to Chimerix's 2024 Equity Incentive Plan terms, these options were granted outside of it.

Chimerix, a biopharmaceutical company, is developing dordaviprone (ONC201) for H3 K27M-mutant glioma and conducting Phase 1 dose escalation studies of ONC206 to evaluate safety and PK data.

Positive

• Advancing clinical pipeline with dordaviprone (ONC201) for glioma
• Progress in Phase 1 trials for ONC206

Negative

• None.

DURHAM, N.C., March 07, 2025 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), today announced that on March 2, 2025, the Compensation Committee of Chimerix’s Board of Directors granted an inducement award to a new employee of non-statutory stock options to purchase up to a total of 70,000 shares of Chimerix’s common stock. The Compensation Committee of Chimerix’s Board of Directors approved the award as an inducement material to the new employee’s employment in accordance with Nasdaq Listing rule 5635(c)(4).

The stock options have an exercise price per share equal to Chimerix’s closing trading price as of the grant date. The stock options have a 10-year term and will vest over four years, with one-fourth vesting on the one-year anniversary of the date of hire and the remaining three-fourths vesting over the following three years in equal monthly installments. The stock options are subject to the terms of Chimerix’s 2024 Equity Incentive Plan but were granted outside of the 2024 Equity Incentive Plan.

Chimerix is a biopharmaceutical company with a mission to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases. The Company’s most advanced clinical-stage development program, dordaviprone (ONC201), is in development for H3 K27M-mutant glioma. The Company is conducting Phase 1 dose escalation studies of ONC206 to evaluate safety and PK data.

CONTACTS:

Will O’Connor
Stern Investor Relations
212-362-1200
ir@chimerix.com
will@sternir.com

FAQ

What type of stock options did Chimerix (CMRX) grant to its new employee in March 2025?

Non-statutory stock options to purchase 70,000 shares at Chimerix's closing price on the grant date.

How long is the vesting period for CMRX's March 2025 inducement stock options?

4-year vesting: 25% after first year, remaining 75% monthly over next three years.

What is the main clinical development program at Chimerix (CMRX)?

Dordaviprone (ONC201) for H3 K27M-mutant glioma treatment.

What phase of development is ONC206 currently in at Chimerix?

Phase 1 dose escalation studies evaluating safety and PK data.