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

Rhea-AI Summary

Context Therapeutics (Nasdaq: CNTX), a biopharmaceutical company focused on solid tumor treatments, has granted stock options to two new employees as employment inducements. The grants total 46,000 shares of common stock, awarded outside the company's 2021 Long-Term Performance Incentive Plan, complying with Nasdaq Rule 5635(c)(4).

The options were granted on February 18 and 24, 2025, with exercise prices of $0.83 and $0.8314 per share respectively, matching Context's closing stock prices on those dates. These 10-year options follow a four-year vesting schedule: 25% vests after one year, with the remaining 75% vesting in 36 monthly installments. Vesting is contingent on continued employment with Context.

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PHILADELPHIA, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Context Therapeutics Inc. (“Context” or the “Company”) (Nasdaq: CNTX), a biopharmaceutical company advancing medicines for solid tumors, today announced that Context has granted non-qualified stock option awards to purchase an aggregate of 46,000 shares of its common stock to two new employees as an inducement material for accepting employment with Context.

The stock option awards were granted outside of the Context Therapeutics Inc. 2021 Long-Term Performance Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options were granted to the new employees on their respective hire dates (February 18, 2025 and February 24, 2025) with an exercise price equal to the closing price of Context’s common stock as reported by Nasdaq on the grant date ($0.83 and $0.8314 per share, respectively).

The stock options have a 10-year term and vest over four years, with one-fourth of the shares underlying the stock option vesting on the first anniversary of the grant date and the remainder vesting in thirty-six equal monthly installments thereafter. Vesting of the stock options is subject to continued service with Context through the applicable vesting date.

About Context Therapeutics^®
Context Therapeutics Inc. (Nasdaq: CNTX) is a biopharmaceutical company advancing T cell engaging (“TCE”) bispecific antibodies for solid tumors. Context is building an innovative portfolio of TCE bispecific therapeutics, including CTIM-76, a Claudin 6 x CD3 bispecific antibody, CT-95, a Mesothelin x CD3 bispecific antibody, and CT-202, a Nectin-4 x CD3 bispecific antibody. Context is headquartered in Philadelphia. For more information, please visit www.contexttherapeutics.com or follow the Company on X (formerly Twitter) and LinkedIn.

Forward-looking Statements
This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, included in this press release regarding strategy, future operations, prospects, plans and objectives of management, including words such as “may,” “will,” “expect,” “anticipate,” “look forward,” “plan,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are forward-looking statements. These include, without limitation, statements regarding (i) the potential benefits, characteristics, safety and side effect profile of our product candidates, (ii) the likelihood data will support future development of our product candidates, and (iii) the likelihood of obtaining regulatory approval for our product candidates. Forward-looking statements in this release involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, and we therefore cannot assure you that our plans, intentions, expectations, or strategies will be attained or achieved. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in our filings with the U.S. Securities and Exchange Commission, including the section titled “Risk Factors” contained therein. Except as otherwise required by law, we disclaim any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events, or circumstances or otherwise.

Investor Relations Contact:
Jennifer Minai-Azary
Context Therapeutics
IR@contexttherapeutics.com

FAQ

How many shares were included in Context Therapeutics' (CNTX) February 2025 inducement grants?

Context Therapeutics granted stock options to purchase an aggregate of 46,000 shares of common stock.

What is the vesting schedule for CNTX's February 2025 inducement stock options?

The stock options vest over four years, with 25% vesting after the first year and the remaining 75% vesting in 36 equal monthly installments.

What were the exercise prices for CNTX's February 2025 inducement grants?

The exercise prices were $0.83 and $0.8314 per share, matching Context's closing stock prices on February 18 and 24, 2025, respectively.

How long is the term of CNTX's February 2025 inducement stock options?

The stock options have a 10-year term.