Chimerix Announces Inducement Grant of Stock Options
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Chimerix Announces Inducement Grant of Stock Options
Chimerix (NASDAQ:CMRX), a leading biopharmaceutical company, has recently revealed a significant inducement award made to a newly hired employee. This grant, consisting of non-statutory stock options for a total of 150,000 shares of the company's common stock, reflects Chimerix's commitment to attracting skilled talent in the competitive biotech sector.
Details of the Stock Options Grant
Approved by the Compensation Committee of Chimerix’s Board of Directors, this award serves as an essential incentive that aligns with Nasdaq Listing Rule 5635(c)(4). The stock options come with an exercise price that matches the closing trading price on the date of the grant, ensuring that the new employee's potential benefits are tied to the company’s market performance.
Vesting Schedule and Plan Terms
The stock options granted have a generous 10-year term. They will vest over four years, providing one-fourth of the options on the one-year anniversary of the employee's hire date. The remaining options will vest in equal monthly installments over the subsequent three years, supporting long-term commitment and engagement from the new team member.
Chimerix's Commitment to Innovation
Chimerix is not only focused on nurturing its workforce but is also dedicated to its fundamental mission: developing innovative medicines that significantly enhance the lives of patients confronted with serious diseases. Among its noteworthy programs is the clinical-stage therapy ONC201, which targets H3 K27M-mutant glioma, reflecting Chimerix's strategic direction toward addressing unmet medical needs.
Advancements in Clinical Trials
Continuing its commitment to research and development, Chimerix is engaged in Phase 1 dose escalation studies for ONC206. This helps assess both the safety and pharmacokinetic data crucial for future advancements in treatment options. By focusing on such critical areas, Chimerix aims to contribute meaningfully to the biopharmaceutical landscape.
Company Contacts
For further inquiries or information about the inducement grant and company developments, please reach out to:
Will O’Connor
Stern Investor Relations
212-362-1200
ir@chimerix.com
will@sternir.com
Frequently Asked Questions
What is the purpose of the inducement grant by Chimerix?
The inducement grant serves to attract and retain talented employees, aligning their potential rewards with the company's performance.
How many stock options were granted to the new employee?
A total of 150,000 shares of Chimerix’s common stock were granted as non-statutory stock options.
What is the vesting schedule for the stock options?
One-fourth of the options will vest on the one-year anniversary of the hire date, with the remaining options vesting in equal monthly installments over the next three years.
Which clinical programs is Chimerix currently pursuing?
Chimerix is actively developing ONC201 for H3 K27M-mutant glioma and conducting studies for ONC206 to evaluate safety and pharmacokinetic data.
How does Chimerix aim to improve patients' lives?
Chimerix focuses on creating and advancing therapies that provide significant improvements in treatment options for patients facing serious health challenges.
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