Terns Pharmaceuticals Welcomes New Talent with Equity Grants
Celebrating New Talent at Terns Pharmaceuticals
Terns Pharmaceuticals, Inc. is taking significant steps to boost its team by granting equity inducement awards to two of its newest employees. This initiative, announced recently, reflects the company's commitment to nurturing top talent and advancing their innovative pipeline.
Details of the Equity Inducement Award
On April 1, 2025, Terns Pharmaceuticals executed an equity inducement award under its 2022 Employment Inducement Award Plan. The award, sanctioned by the Compensation Committee of the Board of Directors, allows for a substantial grant of stock options to its new hires, aligning with Nasdaq Listing Rule 5635(c)(4).
The company has issued options to purchase a total of 611,000 shares of Terns common stock. These options feature a ten-year term and an exercise price of $2.56 per share, corresponding to the common stock's closing price on the grant date. The options are set to vest over four years, reinforcing the importance of long-term commitment and service to Terns.
About Terns Pharmaceuticals
Terns Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing a portfolio of small-molecule product candidates that aim to tackle significant health issues such as cancers and metabolic disorders like obesity. The company proudly maintains an innovative pipeline that includes three clinical-stage development programs. Among these are an allosteric BCR-ABL inhibitor and a small-molecule GLP-1 receptor agonist, alongside a THR-? agonist which targets obesity treatments.
Moreover, Terns is engaging in a preclinical discovery effort focused on a GIPR modulator, particularly prioritizing finding a GIPR antagonist candidate. Their comprehensive approach to drug development underscores a robust commitment to addressing critical medical needs and improving patient outcomes.
Contact Information for Terns Pharmaceuticals
For inquiries, Terns Pharmaceuticals provides direct contact points for both investors and media representatives. Investors can reach out to Kaytee Bock via email at investors@ternspharma.com. Additionally, media inquiries can be directed to Jenna Urban at CG Life, who is available at media@ternspharma.com.
Frequently Asked Questions
What is the purpose of the equity inducement award?
The award aims to attract and retain talented individuals by offering a stake in the company, aligning their interests with the company's long-term growth.
How many shares are involved in the options granted?
The options granted total 611,000 shares of Terns common stock.
What is the exercise price for the options?
The exercise price is set at $2.56 per share, which reflects the closing price on the grant date.
How long will the options be valid?
The options have a ten-year term from the grant date.
What programs does Terns Pharmaceuticals focus on?
Terns focuses on developing treatments for serious diseases, including their work on oncology and obesity through multiple innovative drug programs.
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