Kura Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Kura Oncology (Nasdaq: KURA) has announced that its Compensation Committee granted inducement awards to nine new employees on February 3, 2025. The awards consist of nonstatutory stock options to purchase 164,000 shares of common stock under the Company's 2023 Inducement Option Plan.
The stock options have an exercise price of $8.25 per share, matching the Company's closing sales price on February 3, 2025. The options will vest over four years, with 25% vesting after one year and the remaining balance vesting monthly over the subsequent 36 months, contingent on continued employment.
Positive
- Expansion of workforce with nine new employees indicating company growth
- Implementation of employee retention strategy through stock options
Negative
- Potential shareholder dilution from 164,000 new stock options
SAN DIEGO, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (the “Company”) (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced that on February 3, 2025, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) granted inducement awards consisting of nonstatutory stock options to purchase 164,000 shares of common stock to nine (9) new employees under the Company’s 2023 Inducement Option Plan, as amended. The Compensation Committee approved the stock options as an inducement material to such employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).
Each stock option has an exercise price equal to
About Kura Oncology
Kura Oncology is a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer. The Company’s pipeline consists of small molecule drug candidates that target cancer signaling pathways. Ziftomenib, a once-daily, oral menin inhibitor, is the first and only investigational therapy to receive Breakthrough Therapy Designation from the U.S. Food and Drug Administration (the “FDA”) for the treatment of relapsed/refractory (“R/R”) NPM1-mutant acute myeloid leukemia (“AML”). In November 2024, Kura Oncology entered a global strategic collaboration agreement with Kyowa Kirin Co., Ltd. to develop and commercialize ziftomenib for AML and other hematologic malignancies. Enrollment in a Phase 2 registration-directed trial of ziftomenib in R/R NPM1-mutant AML has been completed, and the companies anticipate submission of a New Drug Application to the FDA in the second quarter of 2025. Kura Oncology and Kyowa Kirin are also conducting a series of clinical trials to evaluate ziftomenib in combination with current standards of care in newly diagnosed and R/R NPM1-mutant and KMT2A-rearranged AML. KO-2806, a next-generation farnesyl transferase inhibitor, is being evaluated in a Phase 1 dose-escalation trial as a monotherapy and in combination with targeted therapies. Tipifarnib, a potent and selective farnesyl transferase inhibitor, is currently in a Phase 1/2 trial in combination with alpelisib for patients with PIK3CA-dependent head and neck squamous cell carcinoma. For additional information, please visit Kura’s website at https://kuraoncology.com/ and follow us on X and LinkedIn.
Contacts
Investors:
Patti Bank
Managing Director
(415) 513-1284
patti.bank@icrhealthcare.com
Media:
Alexandra Weingarten
Associate Director, Corporate Communications
& Investor Relations
(858) 500-8822
alexandra@kuraoncology.com
FAQ
How many shares are included in KURA's February 2025 inducement stock options grant?
What is the exercise price for KURA's February 2025 inducement stock options?
What is the vesting schedule for KURA's February 2025 inducement stock options?
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