Curis Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Curis (NASDAQ: CRIS) has announced the approval of inducement stock options for its newly appointed Chief Medical Officer, Dr. Ahmed Hamdy. The grant, approved by the Board of Directors, allows Dr. Hamdy to purchase 200,000 shares of Curis common stock at an exercise price equal to the closing price on May 1, 2025.

The stock options have a 10-year term and will vest over four years, with 25% vesting on the first anniversary and an additional 6.25% vesting every three months thereafter, contingent on Dr. Hamdy's continued employment. The grant was made outside of Curis's Fifth Amended and Restated 2010 Stock Incentive Plan as an inducement for Dr. Hamdy's employment.

LEXINGTON, Mass., May 6, 2025 /PRNewswire/ -- Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of emavusertib (CA-4948), an orally available, small molecule IRAK4 inhibitor, today announced that the Board of Directors of Curis approved the grant of inducement stock options to its newly appointed Chief Medical Officer, Dr. Ahmed Hamdy to purchase 200,000 shares of Curis common stock, with a grant date of May 1, 2025 (the "Inducement Grant").

The Inducement Grant has an exercise price per share equal to the closing price of the Company's common stock on May 1, 2025. The Inducement Grant has a 10 year term and vests over four years, with 25% of the award vesting on the first anniversary of the grant date and an additional 6.25% of the award vesting on each successive three-month period thereafter, subject to Dr. Hamdy's continued service with the Company through the respective vesting dates. Dr. Hamdy's stock option was granted as an inducement equity award outside of the Company's Fifth Amended and Restated 2010 Stock Incentive Plan and was made as an inducement material to his acceptance of employment with the Company.

About Curis, Inc.

Curis is a biotechnology company focused on the development of emavusertib, an orally available, small molecule IRAK4 inhibitor. Emavusertib is currently being evaluated in the TakeAim Lymphoma Phase 1/2 study (CA-4948-101) in patients with relapsed/refractory primary central nervous system lymphoma (PCNSL) in combination with the BTK inhibitor ibrutinib, as a monotherapy in the TakeAim Leukemia Phase 1/2 study (CA-4948-102) in patients with relapsed/refractory acute myeloid leukemia (AML) and relapsed/refractory high risk myelodysplastic syndrome (hrMDS), and as a frontline combination therapy with venetoclax and azacitidine in patents with AML (CA-4948-104). Emavusertib has received Orphan Drug Designation from the U.S. Food and Drug Administration for the treatment of PCNSL, AML and MDS and from the European Commission for the treatment of PCNSL. Curis, through its 2015 collaboration with Aurigene, has the exclusive license to emavusertib (CA-4948). Curis licensed its rights to Erivedge® to Genentech, a member of the Roche Group, under which they are commercializing Erivedge® for the treatment of advanced basal cell carcinoma. For more information, visit Curis's website at www.curis.com.

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SOURCE Curis, Inc.

FAQ

Who is the new Chief Medical Officer of Curis (CRIS)?

Dr. Ahmed Hamdy has been appointed as the new Chief Medical Officer of Curis.

How many stock options were granted to Curis's new CMO?

Dr. Ahmed Hamdy was granted inducement stock options to purchase 200,000 shares of Curis common stock.

What is the vesting schedule for the CRIS stock options granted to Dr. Hamdy?

The options vest over 4 years, with 25% vesting after the first year and 6.25% vesting every three months thereafter, subject to continued employment.

What is the expiration term of the stock options granted by Curis?

The inducement stock options have a 10-year term.