Assembly Biosciences Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
June 08, 2018
INDIANAPOLIS and SAN FRANCISCO, June 08, 2018 (GLOBE NEWSWIRE) -- Assembly Biosciences, Inc. (NASDAQ:ASMB) a clinical-stage biotechnology company advancing a new class of oral therapeutics for the treatment of hepatitis B virus (HBV) infection and novel oral synthetic live biotherapeutics for disorders associated with the microbiome, today announced grants of options to four new employees to purchase an aggregate of 17,600 shares of Assembly’s common stock with an exercise price of $41.36 per share, the closing price on May 23, 2018. The stock options have a ten-year term and vest over four years, with one-fourth vesting on the first anniversary of the date of grant and the remaining three-fourths vesting in equal monthly installments thereafter. The options in all cases are subject to such employees’ continued service with Assembly through the applicable vesting dates and to acceleration upon the occurrence of certain events as set forth in the option agreements. None of these new employees are executive officers.
The stock options were granted outside of Assembly’s stockholder-approved equity incentive plan pursuant to Assembly’s 2017 Inducement Award Plan. The stock options were approved by the Compensation Committee of the Board of Directors, which is comprised solely of independent directors, as an inducement material to the employees entering into employment with Assembly in reliance on NASDAQ Listing Rule 5635(c)(4), which requires this public announcement.
About Assembly Biosciences
Assembly Biosciences, Inc. is a clinical-stage public biotechnology company developing two innovative platform programs: an HBV program advancing a new class of oral therapeutics for the treatment of hepatitis B virus (HBV) infection and a microbiome program developing novel oral synthetic live biotherapeutics for disorders associated with the microbiome. Assembly’s HBV-cure program is advancing multiple drug candidates with the aim of increasing cure rates in patients with chronic HBV. Assembly’s microbiome program consists of a fully integrated platform that includes a robust strain identification and selection process, methods for strain isolation and growth under current Good Manufacturing Practices and a patented delivery system, GEMICEL®, which allows for targeted oral delivery of live biologic and conventional therapies to the lower gastrointestinal tract. For more information, visit assemblybio.com.
Source: Assembly Biosciences
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