Elicio Therapeutics Reports Inducement Grant to New Chief Strategy and Financial Officer and Other New Hires

Rhea-AI Summary

Elicio Therapeutics (Nasdaq: ELTX) has announced inducement awards for its newly appointed Chief Strategy and Financial Officer, Preetam Shah, and two other new employees. The grants were approved under the Elicio 2024 Inducement Incentive Award Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

Dr. Shah received 191,624 stock options, while the two additional employees were granted a total of 21,000 stock options. All options are priced at $4.98 per share, matching Elicio's closing price on April 15, 2025. The options vest over four years, with 25% vesting on the first employment anniversary and the remainder vesting monthly thereafter, contingent on continued employment.

Positive

• Strengthened executive team with new Chief Strategy and Financial Officer appointment
• Company expanding workforce with strategic new hires
• Structured compensation plan aligned with long-term retention through 4-year vesting schedule

Negative

• Potential shareholder dilution from issuance of 212,624 new stock options

BOSTON, April 16, 2025 (GLOBE NEWSWIRE) -- Elicio Therapeutics, Inc. (Nasdaq: ELTX, “Elicio Therapeutics” or “Elicio”), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, today announced that on April 15, 2025, Elicio granted inducement awards to Elicio’s newly appointed Chief Strategy and Financial Officer, Preetam Shah, and two additional new employees, as an inducement material to Dr. Shah and such employees entering into employment with Elicio in accordance with Nasdaq Listing Rule 5635(c)(4), which grants were approved by the compensation committee of Elicio’s board of directors in accordance with the Elicio 2024 Inducement Incentive Award Plan.

The grant to Dr. Shah provides for the issuance of 191,624 stock options. Additionally, the grants to the two employees provide for the issuance of an aggregate of 21,000 stock options. Each grant provides for the purchase of shares of Elicio common stock at a price of $4.98 per share, the closing price per share of Elicio common stock as reported by Nasdaq on April 15, 2025, the date of each grant.

Each of the grants vest over four years, with 25 percent of the shares vesting on the first anniversary of Dr. Shah’s and each employee’s respective start date, and the remainder vesting ratably at the end of each subsequent month thereafter, subject to such individual’s continued service relationship with Elicio through the applicable vesting dates.

About Elicio Therapeutics

Elicio Therapeutics, Inc. (Nasdaq: ELTX) is a clinical-stage biotechnology company advancing novel immunotherapies for the treatment of high-prevalence cancers, including mKRAS-positive pancreatic and colorectal cancers. Elicio intends to build on recent clinical successes in the personalized cancer vaccine space to develop effective, off-the-shelf vaccines. Elicio’s Amphiphile (“AMP”) technology aims to enhance the education, activation and amplification of cancer-specific T cells relative to conventional vaccination strategies, with the goal of promoting durable cancer immunosurveillance in patients. Elicio’s ELI-002 lead program is an off-the-shelf vaccine candidate targeting the most common KRAS mutations, which drive approximately 25% of all solid tumors. ELI-002 is being studied in an ongoing, randomized clinical trial in patients with mKRAS-positive pancreatic cancer who completed standard therapy but remain at high risk of relapse. Elicio’s pipeline includes additional off-the-shelf therapeutic cancer vaccines, including ELI-007 and ELI-008, that target BRAF-driven cancers and p53 hotspot mutations, respectively. For more information, please visit www.elicio.com.

Investor Relations Contact

Brian Ritchie
LifeSci Advisors, LLC
(212) 915-2578

FAQ

What stock options did Elicio Therapeutics (ELTX) grant to its new CFO in April 2025?

Elicio granted 191,624 stock options to new CFO Preetam Shah at $4.98 per share, vesting over 4 years with 25% vesting in the first year.

How does the vesting schedule work for ELTX's April 2025 inducement grants?

The grants vest over 4 years, with 25% vesting on the first employment anniversary and the remaining portion vesting monthly thereafter, subject to continued employment.

What was the total number of stock options granted by ELTX in their April 2025 inducement awards?

Elicio granted a total of 212,624 stock options, with 191,624 to the new CFO and 21,000 to two other new employees.

What was the strike price for ELTX's April 2025 inducement stock options?

The stock options were granted at $4.98 per share, which was Elicio's closing price on April 15, 2025.