Mersana Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Mersana Therapeutics (NASDAQ:MRSN) has announced an inducement grant under Nasdaq Listing Rule 5635(c)(4). The company granted a restricted stock unit (RSU) award to one new employee who joined in March 2025. The award consists of 26,790 shares of common stock.

The RSU award will vest in four equal annual installments starting from February 15, 2025, contingent on the employee's continued service with Mersana. The grant is subject to Mersana's 2022 Inducement Stock Incentive Plan and RSU agreement terms.

CAMBRIDGE, Mass., April 04, 2025 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (NASDAQ:MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced that on April 1, 2025, an authorized sub-committee of the Board of Directors of Mersana granted an inducement award, consisting of a restricted stock unit (RSU) award to acquire 26,790 shares of its common stock, to one new employee whose employment commenced in March 2025. The award was granted as an inducement material to the new employee entering employment with Mersana in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSU award will vest in equal annual installments on the first four anniversaries of February 15, 2025, subject to the employee’s continued service with Mersana on each such vesting date. The RSU award is subject to the terms and conditions of Mersana’s 2022 Inducement Stock Incentive Plan and the terms and conditions of an RSU agreement covering the grant.

About Mersana Therapeutics
Mersana Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel antibody-drug conjugates (ADCs) and driven by the knowledge that patients are waiting for new treatment options. The company has developed proprietary cytotoxic (Dolasynthen) and immunostimulatory (Immunosynthen) ADC platforms that are generating a pipeline of wholly-owned and partnered product candidates with the potential to treat a range of cancers. Its pipeline includes Emi-Le (emiltatug ledadotin; XMT-1660), a Dolasynthen ADC targeting B7-H4, and XMT-2056, an Immunosynthen ADC targeting a novel epitope of human epidermal growth factor receptor 2 (HER2). Mersana routinely posts information that may be useful to investors on the “Investors & Media” section of its website at www.mersana.com.

Contact:
Jason Fredette
617-498-0020
jason.fredette@mersana.com

FAQ

What is the size of Mersana Therapeutics' (MRSN) latest RSU inducement grant?

The RSU inducement grant consists of 26,790 shares of common stock awarded to one new employee.

What is the vesting schedule for MRSN's April 2025 inducement grant?

The RSU award vests in equal annual installments over four years, beginning February 15, 2025, subject to continued employment.

When was the MRSN inducement grant approved?

The inducement grant was approved by an authorized sub-committee of Mersana's Board of Directors on April 1, 2025.

Under which regulatory rule was MRSN's inducement grant issued?

The inducement grant was issued under Nasdaq Listing Rule 5635(c)(4).