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Mersana Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Mersana Therapeutics, a biopharmaceutical company, granted an inducement award of 35,100 shares of common stock to a new employee. The award is part of an RSU and will vest in annual installments over four years, subject to the employee's service with Mersana. This award was given in accordance with Nasdaq Listing Rule 5635(c)(4).
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CAMBRIDGE, Mass., April 04, 2024 (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, 2024, 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 35,100 shares of its common stock, to one new employee whose employment commenced in March 2024. 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, 2024, 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 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
Mersana Therapeutics granted an inducement award consisting of a restricted stock unit (RSU) award.
The award included 35,100 shares of common stock.
The RSU award will vest in equal annual installments over the first four anniversaries of February 15, 2024.
The RSU award is subject to the employee's continued service with Mersana on each vesting date.
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).
mersana is rewriting the rules for immunoconjugate therapies by leveraging our fleximer platform to create precisely targeted and highly tailored drugs that radically improve patients’ lives. our fleximer platform allows us to custom design an adc with specific properties to overcome limitations of current adc approaches and increase the drug’s chances of effectively attacking a particular cancer. we engineer immunoconjugates to deliver industry-leading payloads of an array of anti-tumor agents directly to cancerous cells, controlling when, where and how those agents are released. because we can safely deliver higher quantities of therapeutic payloads directly to a tumor, mersana’s adc therapies have the potential to more effectively treat broader populations of cancer patients while significantly reducing the side effects associated with many of today’s cancer treatments.
