Kura Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Kura Oncology, Inc. granted inducement awards of nonstatutory stock options to two new employees, totaling 93,000 shares of common stock. The options have an exercise price of $21.59 per share and will vest over four years. This move aligns with the Company's commitment to precision medicines for cancer treatment.
03/01/2024 - 05:00 PM
SAN DIEGO, March 01, 2024 (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 March 1, 2024, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) granted inducement awards consisting of nonstatutory stock options to purchase 93,000 shares of common stock to two (2) new employees under the Company’s 2023 Inducement Option Plan. 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 per share equal to $21.59 per share, the Company’s closing sales price on March 1, 2024, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees’ continued service relationship with the Company through the applicable vesting dates. The stock options are subject to the terms and conditions of the Company’s 2023 Inducement Option Plan and the terms and conditions of an applicable stock option agreement covering the grant.
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 is a once-daily, oral drug candidate targeting the menin-KMT2A protein-protein interaction for the treatment of genetically defined AML patients with high unmet need. Kura is currently enrolling patients in a Phase 2 registration-directed trial of ziftomenib in NPM1-m R/R AML (KOMET-001). The Company is also conducting a series of studies to evaluate ziftomenib in combination with current standards of care, beginning with ven/aza and 7+3 in NPM1-m and KMT2A-r newly diagnosed and R/R AML (KOMET-007). Tipifarnib, a potent and selective FTI, is currently in a Phase 1/2 trial in combination with alpelisib for patients with PIK3CA-dependent HNSCC (KURRENT-HN). Kura is also evaluating KO-2806, a next-generation FTI, in a Phase 1 dose-escalation trial as a monotherapy and in combination with cabozantinib in ccRCC and with adagrasib in KRASG12C -mutated NSCLC (FIT-001). For additional information, please visit Kura’s website at www.kuraoncology.com X LinkedIn
Contacts
Investors:pete@kuraoncology.com
Media:alexandra@kuraoncology.com
Kura Oncology, Inc. granted 93,000 shares of common stock as inducement awards to two new employees.
The exercise price per share for the stock options granted by Kura Oncology, Inc. is $21.59.
The stock options will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the rest vesting monthly over 36 months.
The stock options were granted under the Company's 2023 Inducement Option Plan.
The stock options were granted as inducement awards to new employees as part of their employment agreement.
The stock options signify the Company's commitment to precision medicines for cancer treatment.
KURA Rankings
#4684 Ranked by Stock Gains
KURA Stock Data
Industry
Pharmaceutical Preparation Manufacturing
Sector
Manufacturing
Tags
Health Technology, Biotechnology, Manufacturing, Pharmaceutical Preparation Manufacturing
Country
US
City
San Diego
About KURA
at kura oncology, we are committed to realizing the promise of precision medicines for cancer. the genomics revolution is transforming how we treat cancer. we now understand that how a patient responds to treatment depends in part on the genetic makeup of the cancer and, importantly, we have the knowledge and tools to create targeted treatments and companion diagnostics to identify those patients most likely to benefit. this new era offers the potential for innovative treatments that are safer and more effective for patients with particular cancers. we are leveraging our insights into cancer genetics as well as our core strength of translating novel science into life-saving medicines to advance a pipeline of precision medicines. our development programs target cancers with high unmet need, including lung, colorectal, thyroid and pancreatic cancers as well as blood cancers such as lymphoma and leukemias. our goal is to help patients with cancer lead better, longer lives.
