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G1 Therapeutics, Inc. announced the grant of inducement stock options and restricted stock units to a newly hired employee under the Amended and Restated 2021 Plan. The stock options are exercisable for 2,100 shares at $4.13 per share, with a ten-year term and vesting over four years. The RSUs consist of 1,050 units, vesting over four years as well. These awards were granted to induce the new employee to join G1 as per Nasdaq rules.
G1 Therapeutics reported $14.1 million in net revenue from sales of COSELA for Q1 2024, reaffirming $60-$70 million guidance for 2024. They announced updated efficacy results and final analysis from key trials. Cash runway extends to Q3 2025.
The financial results for Q1 2024 showed total revenue of $14.5 million, including $14.1 million from COSELA sales. Operating expenses decreased compared to Q1 2023. G1 reaffirmed its 2024 financial guidance of $60-$70 million in COSELA net revenue.
G1 Therapeutics, Inc. and Pepper Bio have announced a global licensing agreement for lerociclib, excluding Asia-Pacific, where Pepper Bio gains exclusive rights for clinical development, regulatory submissions, and commercialization in the US, Europe, Japan, and other global markets. Lerociclib, a selective CDK4/6 inhibitor, has shown promising efficacy in clinical studies, particularly in HR+/Her2- metastatic breast cancer and hepatocellular carcinoma. Pepper Bio's COMPASS platform identifies novel drug targets and will advance lerociclib to Phase 2 trials. G1 Therapeutics will receive mid-single-digit millions upfront and up to $135M in milestone payments, along with double-digit royalties on lerociclib sales.