IVERIC bio (Nasdaq: ISEE) granted a non-statutory stock option for 14,000 shares to a newly hired employee on October 1, 2020, under its 2019 Inducement Stock Incentive Plan. The stock option's exercise price is set at $5.98, equivalent to the closing stock price on the grant date. It has a ten-year term and vests over four years, with 25% vesting on October 1, 2021, followed by monthly vesting. This grant aimed to incentivize the employee's acceptance of the position, adhering to Nasdaq Listing Rule 5635(c)(4).
IVERIC bio, Inc. (Nasdaq: ISEE) reported positive 18-month results from its Phase 3 trial (OPH2003) for Zimura® (avacincaptad pegol), a complement C5 inhibitor for geographic atrophy due to age-related macular degeneration (AMD). The data indicates a 28.11% and 29.97% reduction in GA growth for the Zimura 2 mg and 4 mg groups, respectively, compared to the sham control. The treatment showed a favorable safety profile, with no significant adverse events. The company plans to initiate its second pivotal trial (ISEE2008) soon, enhancing its position in a market lacking approved therapies.