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Cartesian Therapeutics Announces New Employment Inducement Grant
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Rhea-AI Summary
Cartesian Therapeutics, Inc. (RNAC) granted an inducement award to a new employee, offering 375,000 shares at $0.69 per share. The option vests over four years, fully by 2028, under Nasdaq Listing Rules. The award aims to attract and retain talent.
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GAITHERSBURG, Md., March 05, 2024 (GLOBE NEWSWIRE) -- Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a clinical-stage biotechnology company developing mRNA cell therapies for the treatment of autoimmune diseases, today announced the granting of an inducement award to a new employee. On March 1, 2024, the Company issued to this employee an option to purchase 375,000 shares of the Company’s common stock with an exercise price of $0.69, the closing trading price of the Company’s common stock on the Nasdaq Global Market on the date of grant. This option was granted pursuant to the Company’s Amended and Restated 2018 Employment Inducement Incentive Award Plan and was approved by the Company’s board of directors. The option vests as to 25% on March 1, 2025, and then in three equal installments thereafter such that the option will be fully vested on March 1, 2028. The option has a ten-year term. The option was granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to the employee’s entry into employment with the Company.
About Cartesian Therapeutics
Cartesian Therapeutics is a clinical-stage company developing mRNA cell therapies for the treatment of autoimmune diseases. The Company’s lead asset, Descartes-08, is a potential first-in-class mRNA CAR-T in Phase 2b clinical development for patients with generalized myasthenia gravis. Additional Phase 2 studies are planned in systemic lupus erythematosus under an allowed IND, as well as basket trials in additional autoimmune indications. The Company’s clinical-stage pipeline also includes Descartes-15, a next-generation, autologous anti-BCMA mRNA CAR-T. For more information, please visit www.cartesiantherapeutics.com or follow the Company on LinkedIn or X, formerly known as Twitter.
What did Cartesian Therapeutics, Inc. (RNAC) announce recently?
Cartesian Therapeutics, Inc. announced the granting of an inducement award to a new employee.
How many shares were offered in the inducement award by Cartesian Therapeutics, Inc. (RNAC)?
Cartesian Therapeutics, Inc. offered 375,000 shares in the inducement award.
At what price were the shares offered in the inducement award by Cartesian Therapeutics, Inc. (RNAC)?
The shares in the inducement award by Cartesian Therapeutics, Inc. were offered at $0.69 per share.
When will the option granted by Cartesian Therapeutics, Inc. (RNAC) be fully vested?
The option granted by Cartesian Therapeutics, Inc. will be fully vested on March 1, 2028.
Under which rules was the option granted by Cartesian Therapeutics, Inc. (RNAC)?
The option was granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to the employee’s entry into employment with the Company.
selecta biosciences, inc. is a clinical-stage biopharmaceutical company that is focused on unlocking the full potential of biologic therapies by mitigating unwanted immune responses. selecta plans to combine its tolerogenic synthetic vaccine particles (svp™) to a range of biologics for rare and serious diseases that require new treatment options. the company’s current proprietary pipeline includes svp-enabled enzyme, oncology and gene therapies. sel-212, the company’s lead candidate in phase 2, is being developed to treat severe gout patients and resolve their debilitating symptoms, including flares and gouty arthritis. selecta’s sel-403 product candidate, a combination therapy consisting of svp-rapamycin and lmb-100, recently entered a phase 1 trial in 2018 for the treatment of patients with malignant pleural or peritoneal mesothelioma. selecta’s proprietary gene therapy product candidates are being developed for rare inborn errors of metabolism and have the potential to enable repeat
