Assembly Biosciences Reports Inducement Grant under Nasdaq Listing Rule 5635(c)(4)
May 01, 2020
SOUTH SAN FRANCISCO, Calif., May 01, 2020 (GLOBE NEWSWIRE) -- Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage biotechnology company developing innovative therapeutics targeting hepatitis B virus (HBV) and diseases associated with the microbiome, today announced grants of stock options to two new employees to purchase an aggregate of 7,000 shares of Assembly’s common stock with an exercise price of $17.01 per share, the closing price on May 1, 2020.
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 approximately equal monthly installments thereafter. The stock options in all cases are subject to the employees’ continued service with Assembly through the applicable vesting dates and to acceleration upon the occurrence of certain events as set forth in the stock option agreements. Neither of the new employees are executive officers.
The stock options were granted outside of Assembly’s stockholder-approved equity incentive plans pursuant to Assembly’s 2020 Inducement Award Plan. The stock options awards were approved by the Compensation Committee of Assembly’s Board of Directors, which is comprised solely of independent directors, as a material inducement to entering into employment with Assembly in accordance with Nasdaq Listing Rule 5635(c)(4), which requires this public announcement.
About Assembly Biosciences
Assembly Biosciences, Inc. is a clinical-stage biotechnology company developing innovative therapeutics targeting hepatitis B virus (HBV) and diseases associated with the microbiome. The HBV program is focused on advancing a new class of potent, oral core inhibitors that have the potential to increase cure rates for chronically infected patients. The microbiome program is developing novel oral live microbial biotherapeutic candidates with Assembly’s fully integrated platform, including a robust process for strain identification and selection, GMP banking and production, and targeted delivery to the lower gastrointestinal tract with the GEMICEL® technology. For more information, visit assemblybio.com.
Contacts Assembly Biosciences, Inc. Amy Figueroa, CFA Investor Relations Consultant (415) 366-5158 email@example.com Solebury Trout Luke Brown (646) 378-2944 firstname.lastname@example.org
Source: Assembly Biosciences, Inc.
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