CytomX Therapeutics Announces New Employment Inducement Grants
CytomX Therapeutics (Nasdaq: CTMX) announced on January 18, 2022, the granting of stock options for 127,000 shares to four new employees at an exercise price of $3.83 per share.
Sentiment and the balance of points
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Rhea-AI Summary
CytomX Therapeutics (Nasdaq: CTMX) announced on January 18, 2022, the granting of stock options for 127,000 shares to four new employees at an exercise price of $3.83 per share. These options are part of the 2019 Employment Inducement Incentive Plan approved by the Company’s board in August 2020. CytomX specializes in conditionally activated therapeutics, focusing on various oncology treatments, particularly through its Probody technology platform. The company’s current clinical pipeline includes several investigational drugs aimed at treating difficult cancer types.
Positive
- Grant of stock options for a total of 127,000 shares to new employees, potentially enhancing talent retention and attraction.
- Participation in the 2019 Employment Inducement Incentive Plan aimed at incentivizing new hires.
Negative
- None.
Details
News Market Reaction – CTMX
The recorded move for CTMX in the trading session of this news was +1.96%.
Data tracked by StockTitan Argus. Session date unavailable.
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SOUTH SAN FRANCISCO, Calif., Jan. 20, 2022 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. (Nasdaq: CTMX), a leader in the field of conditionally activated therapeutics, today announced that on January 18, 2022, the Company granted four new employees options to purchase a total of 127,000 shares of the Company’s common stock at an exercise price per share equal to
The stock options were granted pursuant to the Company’s 2019 Employment Inducement Incentive Plan, which was approved by the Company’s board of directors in August 2020 under Rule 5635(c)(4) of The Nasdaq Global Market for equity grants to induce new employees to enter into employment with the Company.
About CytomX Therapeutics, Inc.
CytomX is a clinical-stage, oncology-focused biopharmaceutical company dedicated to destroying cancer differently. By pioneering a novel class of conditionally activated biologics, powered by its Probody® technology platform, CytomX’s goal is to transcend the limits of current cancer treatments and successfully leverage therapeutic targets that were once thought to be inaccessible. CytomX’s robust and differentiated pipeline includes the wholly-owned praluzatamab ravtansine (CX-2009), an investigational conditionally activated antibody-drug conjugate (ADC) directed toward CD166, and CX-2029, an investigational conditionally activated ADC directed toward CD71 co-developed with AbbVie. These two programs are currently being evaluated in Phase 2 studies, targeting a variety of late-stage, difficult-to-treat cancer types, including breast cancer for praluzatamab ravtansine, and squamous non-small cell lung cancer, and head and neck squamous cell carcinoma for CX-2029. CytomX’s clinical pipeline also includes cancer immunotherapeutic candidates against validated targets such as the CTLA-4-targeting Probody therapeutics, BMS-986249 and BMS-986288, partnered with Bristol Myers Squibb, and our wholly-owned conditionally activated anti-PD-L1 antibody, pacmilimab (CX-072), as well as the Amgen-partnered CX-904, a conditionally activated T-cell-engaging bispecific antibody against the epidermal growth factor receptor on tumor cells and the CD3 receptor on T cells. In addition, CytomX has a diverse preclinical portfolio and strategic collaborations with other leaders in oncology, including AbbVie, Amgen, Astellas, and Bristol Myers Squibb. For more information about CytomX and how it is working to make conditionally activated treatments the new standard-of-care in the fight against cancer, visit www.cytomx.com and follow us on LinkedIn and Twitter.
Probody is a U.S. registered trademark of CytomX Therapeutics, Inc.
Investor Contact:
Chau Cheng, PhD MBA
VP, Investor Relations & Corp. Communications
ccheng@cytomx.com
Direct: (650) 273-4999
Media Contact:
Bret Coons
Director, Corporate Communications
bcoons@cytomx.com
Direct: (650) 528 2929
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